Tag: CREDAI

IndustryLatest Stories

Builders ask West Bengal to lift high-rise construction ban

Representative AI image KOLKATA: The real estate sector in Kolkata has called on the state government to lift the ban on high-rise construction projects immediately, asserting that the audit process can proceed concurrently with regulated activities at construction sites. Developers are ready to submit formal commitments to ensure compliance with all legal, structural, and safety standards, allowing suspended projects to resume without indefinite delays for approvals. The government’s deadline for completion of the audit expires on Friday, and only around 10% of the affected projects have received clearance to restart construction so far. Construction was halted at 344 high-rise projects…

IndustryLatest Stories

One Lakh Patta Holders Affected; Ramsar Freeze Halts South Chennai Growth

CHENNAI: Over 100,000 patta holders in South Chennai are facing a housing and ownership crisis due to construction valued at approximately ₹1 lakh crore being stalled. This is largely a result of the CMDA freezing planning approvals surrounding the Pallikaranai Ramsar site last October, according to the Confederation of Real Estate Developers’ Associations of India (CREDAI). During a press conference on Tuesday, CREDAI urged the CMDA to reconsider the 1-km Ramsar influence zone that covers 3,358 hectares (8,397 acres), which has made large areas of Velachery, Pallikaranai, Perungudi, Sholinganallur, and Perumbakkam unviable for future construction. Viswajith Kumar, vice-president of CREDAI’s…

IndustryLatest Stories

West Bengal Issues 3-Page SOP for Builders’ Construction Audit

KOLKATA: On Monday, the state government issued a Standard Operating Procedure (SOP) for builders, requiring them to complete a three-page application form detailing project sanctions, permit numbers, and essential personnel involved. Major developers in Kolkata have welcomed this decentralized approach, as they now need to submit forms to relevant borough offices rather than the civic headquarters. Projects located in Salt Lake, New Town, and Rajarhat will submit their documentation to the Bidhannagar Municipal Corporation. In contrast, those in Howrah and Bally will direct theirs to the Howrah Municipal Corporation. Additionally, projects in municipalities like Pujali, Baruipur, Budge Budge, Maheshtala, and…

IndustryLatest Stories

West Bengal Government Launches Worker Safety Audit Today

KOLKATA: An audit of under-construction high-rise buildings in areas like Kolkata, Salt Lake, New Town, Dum Dum, Joka, and Howrah will commence on Monday. This was announced by Kolkata Municipal Corporation administrator Smita Pandey and Kolkata Police commissioner Ajay Nand during a meeting with Credai representatives on Sunday. They mentioned that the standard operating procedure (SOP) for inspection and safety audits will be finalized by late Sunday or early Monday. The newly established SOP will allow for the audit of construction projects to begin promptly on Monday. Credai, the national body for leading developers, was briefed on the various aspects…

IndustryLatest Stories

Telangana Fire Dept Meets Builders on Fire Services Act Changes

HYDERABAD: On Friday, state fire department officials convened a consultative meeting with members of the builders and developers association to discuss proposed amendments to the Telangana Fire Services Act of 1999. The proposed amendments aim to modernize regulations to address urban infrastructure risks, improve safety standards, and enhance enforcement powers. Once finalized, these changes will allow fire department regulations to cover buildings under 15 metres high, as most fire incidents occur in these smaller, often crowded structures. The meeting was held at the fire department’s headquarters in Nanakramguda and included representatives from the Confederation of Real Estate Developers’ Associations of…

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…