CREDAI Bengal is the state’s chapter of the Confederation of Real Estate Developers’ Association of India (CREDAI), the apex body for private real estate developers in India. CREDAI represents over 9,000 developers through 22 state and 143 city level member associations. In West Bengal, CREDAI Bengal has three chapters and now has more than 300 members, witnessing a fast growth in membership.
CREDAI Bengal has been instrumental in bringing about many changes. People’s perception about real estate has undergone change and real estate practices too have changed. CREDAI Bengal has been instrumental to introducing the concept of group housing in high-rise buildings as opposed to individualized houses, making provisions for lifestyle (including common social amenities and entertainment facilities) and not just houses in real estate projects, adoption of modern technologies in building construction and innovative home financing instruments. Kolkata being an old city, CREDAI Bengal members have facilitated renewal of old and dilapidated buildings involving redevelopment of properties to provide more efficient use of built spaces, in partnership with owners in many cases.
CREDAI Bengal has adopted ‘Mission Transparency’ in order to perpetuate an ethical code of conduct, which is self-imposed and it is mandatory for each CREDAI Bengal member to sign a Code of Conduct enshrining integrity and transparency.
CREDAI Bengal continually endeavours to maintain relationship with the different stakeholders of the industry like the Government, the customers, the financiers, the technology providers and the society at large.
CREDAI Bengal liaises with the different concerned departments and agencies of the State Government and pursues all concerns pertaining to the real estate sector towards facilitating changes in policy and related domains. CREDAI Bengal also works towards formulation of proactive policies in areas of affordable housing, EWS housing, social infrastructure creation etc.
In its bid to establish direct contact with customers at large, CREDAI Bengal organizes two of eastern India’s largest property shows, Home Front and Realty Expo. These are annual shows that bring under one roof the best properties available in Bengal so that the buyer can take an informed decision and put his money in a safe transaction. Worthy of mention is that CREDAI Bengal has introduced a Grievance Cell which registers complaints of consumers who bought property from CREDAI Bengal members, acting as a mediator in these cases, thus striving to arrive at an amicable solution between the two parties through its mediation committee.
The body is also engaged in a range of social and public interest activities. Given that the need for skill development in the real estate sector and infrastructure-creation are two of the major drivers of positive social and economic change, with the sector being the second largest employer in West Bengal, CREDAI Bengal is the industry partner of the Women’s ITI at Gariahat, Kolkata, jointly run by CREDAI Bengal and the state government, imparting vocational training throughout the year. The year-long courses certified by the National Council of Vocational Training help economically backward men and women by training them in various fields like carpentry, plumbing, electrical work, masonry and architecture, so that they can become economically independent. Another ITI at Chengail, Howrah is also being adopted to take care of the education of the economically disadvantaged. Also, in keeping with the growing demand for professionals needed in the realty sector, CREDAI Bengal in association with St Xavier’s College and ILEAD runs a certificate course in Real Estate Management aimed at fresh graduates, final year students and those still in college but with a proven track record in real estate work.
To achieve the objective of bridging the gap in the number of construction workers the sector needs at present, it has also signed an MOU with the Department of MSSE &T, Government of West Bengal, to offer customized, client-specific training programs as per the skill demand of the Sector. CREDAI Bengal has also guaranteed placement to successful candidates of the courses, with the contractors working in projects of its members.
For the members, CREDAI Bengal organizes Open Houses where all members are invited to reflect their opinions and views on specific issues. It also regularly holds numerous events with leading experts from the sphere of real estate, finance, engineering, architecture, environment, technology etc., with an effort to involve its members in an interface of wider knowledge-sharing.
Apart from real estate, CREDAI Bengal also strives to promote West Bengal as a significant investment destination with Kolkata at its fulcrum. To this end, CREDAI Bengal members are actively involved in developing sustainable social infrastructure related to IT/ITeS, hospitals, hotels, warehouses, malls and similar amenities.
CREDAI Bengal is currently celebrating its silver anniversary year.
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