CREDAI members to launch 250 affordable housing projects
Members of builders’ body the Confederation of Real Estate Developers’ Association of India, or CREDAI, are planning to launch 250 affordable housing projects across the country. These projects will be launched under the purview of the various CREDAI state or city chapters according the guidelines laid down by CREDAI National. Through this initiative, CREDAI aims to create a considerable inventory of affordable housing to enable consumers and its member developers to take benefit of various government incentives announced for the segment as well as tackle the shortage of housing in the country. “We have set out to establish a model and accelerate the affordable housing segment, especially in the post budget scenario where the demand for affordable housing segment has been highlighted and incentivized. We are looking to add more affordable housing projects under this programme and 250 projects is just the beginning,” said Jaxay Shah, President Elect, CREDAI. Shah added that these projects will be spread over 100 tier I, II and III cities across the country and have either applied for approvals or already received the same. The projects are expected to be completed in 3.5 years. The real estate sector is the second largest employer in the country next to agriculture, creating more than 45 million jobs either directly or indirectly. Affordable housing segment is expected to become a key job creator in the sector.
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