The Confederation of Real Estate Developers' Associations of India (CREDAI) is the apex body for the real estate industry of India.
Real estate contributes to almost 10% of our nation's GDP and is the second-largest source of employment in India.
According to data released by the Department for Promotion of Industry and Internal Trade Policy (DPIIT), construction is the fourth largest sector in terms of FDI inflow. FDI in the sector stood at US$ 42.50 billion from April 2000 to March 2020.
Established in 1999 with a vision of transforming the landscape of the Indian real estate industry and a mandate to pursue the cause of Housing and Habitat, CREDAI has grown rapidly to a quantum of more than 20000 members, spread across 21 state and 220 city chapters.
CREDAI works closely with all of its stakeholders: the Government, policy makers, investors, finance companies, real estate professionals and consumers in its endeavour to ensure that India's real estate industry is increasingly methodical and thriving.
Today, we are a recognized partner for the Central and State Governments, represented on several committees that work at policy formulations and various committees of the Government, including the Ministry of Housing and Urban Affairs, Ministry of Environment, Forests and Climate Change, Ministry of Finance, Ministry of Civil Aviation, Bureau of Indian Standards (BIS), Bureau of Energy Efficiency (BEE) and others.
The real estate industry in Tamil Nadu contributes to 23% of its GDP and CREDAI Chennai holds a whopping 82.6% of the residential market share (in terms of units).
CREDAI Chennai has 13 expert committees, including the CSR Committee, the Policy Committee and the Banking and Finance Committee.
CREDAI Chennai was the first to establish The Research and Analysis Wing for real estate in India.
CREDAI's code of conduct promotes ethical practices. and is adopted proactively by all its members.
We at CREDAI continue to make a conscious effort to bring transparency and protect the interest of homebuyers. CREDAI has established a Consumer Grievance Redressal Forum (CGRF), where aggrieved buyers can register a complaint against member developers and get their issues resolved at the earliest.
By 2040, the real estate market will grow to Rs. 65,000 crore (US$ 9.30 billion) from Rs. 12,000 crore (US$ 1.72 billion) in 2019. The real estate sector in India is expected to reach a market size of US$ 1 trillion by 2030 from US$ 120 billion in 2017 and contribute to 13 percent of the country's GDP by 2025. Retail, hospitality, and commercial real estate are also growing significantly, providing the much-needed infrastructure for India's growing needs.