Tag: CREDAI

IndustryLatest Stories

Home Prices and Construction Costs May Rise if West Asia Conflict Persists

NEW DELHI: The ongoing West Asian conflict is starting to affect Indian real estate, as industry bodies CREDAI and NAREDCO report rising construction costs due to shortages in some building materials. They expressed concerns over potential delays in project completions caused by these constraints. According to CREDAI National President Shekhar Patel and NAREDCO President Parveen Jain, if the conflict continues, the input costs could rise, inevitably pushing up housing prices as well. “The Indian real estate sector remains relatively stable despite geopolitical tensions, as most raw materials are sourced domestically,” said Patel. However, he noted some temporary supply chain disruptions…

IndustryLatest Stories

CREDAI urges Karnataka government to resolve tech issues

MYSURU: The Confederation of Real Estate Developers’ Associations of India (CREDAI) is calling on the state government to address technical issues in government offices without delay. CREDAI President Harish Shenoy MS stated that citizens are experiencing difficulties in obtaining e-khata due to frequent server outages and software malfunctions. These technical issues are affecting not only developers but also property owners. The organization urged the government to resolve these technical challenges promptly and establish a timeline for e-khata issuance. Additionally, the new requirement for a life certificate for each transaction when registering a General Power of Attorney (GPA) has become a…

InfrastructureLatest Stories

CREDAI Calls for Centralized STPs for Safer Vizag Operations

VISAKHAPATNAM: Addressing rising concerns regarding the operations of Sewage Treatment Plants (STPs) in large apartment complexes, CREDAI-Visakhapatnam is advocating for a structured and centralized system to ensure safety, efficiency, and environmental compliance. According to government regulations, high-rise residential buildings with more than 100 dwelling units are mandated to install STPs. While these systems are crucial for wastewater treatment and recycling, their routine operation is often handed over to apartment associations post-construction. Many associations opt to hire third-party agencies for management due to a lack of technical expertise in-house. CREDAI leaders warn that inadequate vetting of these operators is becoming a…

Latest StoriesRera

Karnataka RERA to Mandate Exact Parking Slot Details in Sale Agreements

BENGALURU: In response to homeowner complaints about vague and changing parking allocations, the Karnataka Real Estate Regulatory Authority (K-Rera) is moving to make it compulsory for builders to clearly outline the number, dimensions, type, and exact locations of parking spaces in both allotment letters and sale agreements. “We are currently finalizing these measures,” K-Rera chairman Rakesh Singh informed TOI. The authority is in discussions with Credai, the leading organization for private real-estate developers, and has consulted with representatives from major real-estate firms in the region. “Clearly identifying parking spaces in residential complexes ensures that buyers are well-informed about what they…

Latest StoriesRegulatory

Builders’ Office E-Registration Gains Popularity in Maharashtra

PUNE: On Tuesday, state property registration officials announced that the online registration process for first-sale properties from builders has gained popularity since its launch two years ago, decreasing the load on sub-registrar offices. Nearly 700 developers have joined the platform. As of September 2023, over 11,000 property documents have been registered online from developer offices, with 3,974 registered in the current financial year, as per departmental data. DIG (IT) Abhay Mohite mentioned that online registrations are expected to increase further during the festive season. “User feedback has been positive. Developer organizations are actively promoting the facility, and we anticipate the…