Established in 1999, CREDAI is the apex body representing 11,940 private Real Estate developers spread across 23 state level chapters and 171 cities in India.
CREDAI is a not-for-profit company registered under Section 25 of Companies Act, 1956.
CREDAI seeks to create a favourable policy climate to ensure housing for all. CREDAI specially articulates the concerns of private housing providers.
CREDAI has become the preferred platform with regard to national discourse on Housing and Habitat through strong networking with Government, Policy Makers, Investors, Financial Institutions and Real Estate Developers.
CREDAI is the prime knowledge sharing forum for latest industry data, technological advancements and industry benchmarks.
CREDAI initiatives have been fruitful in liberalization of FDI and investment regimes, streamlining of approvals and creation of financial instruments culminating in the goal of housing for all by 2022.
In order to inspire confidence in the industry, CREDAI has adopted a Voluntary Code of Conduct ensuring highest ethical standards among its members. To predominantly safeguard consumer interest, CREDAI insists on setting up of Consumer Redressal Forums through all its City Level associations.
CREDAI is the preferred CSR arm of its members with Skill Development, Education Scholarships and Swachh Bharat as thematic areas.
To facilitate synthesis of CSR and Sustainability initiatives of CREDAI Members across the country, CREDAI has set up CREDAI CSR FOUNDATION in May 18, 2015. This foundation is supported entirely through voluntary contributions of CREDAI’s registered members.
The main objectives of the CREDAI are as enlisted below.
To perpetuate a self-imposed ethical code of conduct that is mandatory for all the member developers/builder of CREDAI to maintain integrity and transparency in the profession of real estate development.
To represent the developers/builders across India by communicating and representing with the government authorities for the formulation of proactive policies for this profession.
To encourage support the developers/builders to increase their efficiency in the development/construction activities by introducing the latest chronologies.
To disseminate the data, statistics & other related information in this profession of real estate development.
To promote the interest of construction workers and to educate them on the best practices.
To encourage research in the profession of construction & real estate development.
To facilitate easy housing finance availability to the property purchasers by working in close coordination with the leading housing finance institutions & banks.
Achievements of CREDAI
Confederation of Real Estate Developers’ Associations of India (CREDAI) was established in 1999 with a mandate to pursue the cause of housing and habit providers. It has grown its membership base since then and has more than 11,940 members today spread across 23 state and 171 city chapters.
On the advocacy side, CREDAI is today the preferred platform for National discourse on Housing and Habitat. CREDAI is a recognized partner for the government and is represented on committees working at policy formulation, including the Housing and Habitat Policy 2007, the Steering Committee for Urban Developing, Housing and Poverty Alleviation for the 11th five-year plan, various committees of the Bureau of Indian Standards (BIS), Bureau of Energy Efficiency (BEE), Planning Commission and others.
CREDAI has also worked incessantly to make industry more organized and progressive. CREDAI’s unique achievement is the voluntary Code of Conduct adopted proactively by all its members to promote self-governance and ethical practices. Under the code, it is mandatory for all the member developers of CREDAI to maintain integrity & transparency in the profession of Real Estate Development.
CREDAI is a knowledge sharing network about the latest industry data, technology advancements and industry benchmarks for its members.
CREDAI is taking a major step to fill gaps in housing data. Housing statistics worldwide are amongst the most important real time indicators of health of the economy. Real Estate Sector is a critical sector of the Indian economy, contributing 8.53% of the total GDP of the country. Official statistics are available for agriculture, industry, foreign trade and price indices. However, housing statistics which are an equally significant first-hand indicator of the state of the economy are not being collected officially. The housing data project will fill this gap, by providing details of housing stock, fresh project launches, absorption and the unsold inventory. The first report would cover the quarter beginning April 1, 2016. It’s a pioneer project of its kind in the real estate sector in India.
CREDAI continues to make a conscious effort in bringing Mission Transparency and to protect the interest of buyers. It is in this interest, CREDAI has established a Consumer Grievance Redressal Forum in October 2012, where an aggrieved buyer can register a complaint against CREDAI member developer. By translating investor interest protection into a mechanism, the apex body of real estate developers seeks to resolve consumer complaints expeditiously and promote bestselling practice amongst the developer fraternity. The forum in NCR alone has successfully resolved 1119 cases out of 1265 complaints registered (as in June 2014), with a success rate of 90% Customer Satisfaction. This is the first of its kind initiative, to align the faith of consumers with the member builders, to take up the case of grievances and implement self-regulation of the industry in terms of standards of delivery vis a vis commitment among present / prospective buyers, the government and the media.
CREDAI’s CSR initiatives have given credence to the fact that real estate fraternity is a socially responsible community which has demonstrably carried out large amount of social and charitable efforts in the area of building Schools, Hospitals, Skill Development, Education, Places of Worship, Old Age Homes, Care Centers, Child Centers, Roads and Gardens. To bring a synergy to the sustainability initiatives, CREDAI has launched CSR FOUNDATION which was formally registered on May 18,2015.
With Education and Skill Development as key thematic areas, CREDAI CSR Foundation has initiated CSR awards to recognize the development initiatives of its members. Scholarships were awarded to aid students, to persue their dream career in the area of Real Estate.
CREDAI forayed in the arena of Skilling sector with its state of the art training program ‘’Kushal’’ in 2011 through its Pune Chapter in collaboration with National Skills Development Council (NSDC). Since then, CREDAI is conducting regular On-site Training Programs for construction workers at construction sites through its member developers spread across 23 states and 168 city chapters. CREDAI has so far trained more than 26000 trainees across India. CREDAI is at present conducting these training programs across locations in India covering Delhi-NCR, Gurgaon, Rajasthan, Maharashtra, West Bengal, Karnataka and Gujarat. States/cities like Chennai, Coimbatore, Hyderabad, Vizag, Vijayawada, Indore, Bhopal, Kochi, Jaipur and Patna have shown interest to start these training programs. It also propose to start off- site training at source in states like Jharkhand, Chhattisgarh, Odisha, Bengal and Bihar as per request by the Minister of Skilling, Govt. of India. CREDAI aims to undertake Skilling for at least 1 lakh Construction Workers in a year.CREDAI has inked a partnership with NSDC for India's participation in World Skills Competition at Abu Dhabi in 2017.
The Real Estate fraternity has always been compliant and responsive to the environment related issues. CREDAI Clean City Movement (CCCM) is one such environmental movement initiated by CREDAI. Initiated in the state of Kerala in the year 2007, CCCM has grown by leaps and bounds. Today the initiative covers more than 650 housing condominiums and 80000 apartments, and in giving employment to about 650 women belonging to the economically backward class. CCCM has achieved accolade both from the general public and civil societies.
Building a strong India has been a focus point for CREDAI. Alongside its commitment for Housing for All, CREDAI is now also focusing on empowering country’s sports talent. As a step forward in this direction, CREDAI has adopted Mercy Kuttan Athletic Academy to encourage sports and train talented young women athletes of International caliber. The academy has been named as CREDAI-MERCY KUTTAN NATIONAL ACADEMY FOR EXCELLENCE IN SPORTS.
CREDAI has inscribed the critical importance of real estate to the GDP of India on the minds of the government, policy makers and general public and has become the backbone of the Real Estate Industry.