With the vision to foster the development and chart the growth roadmap of real estate in non-metro cities, the Confederation of Real Estate Developers’ Associations of India (CREDAI) is organising its 4th edition of the ‘New India Summit (NIS) 2022’, under its Micro Small and Medium Enterprises (MSME) wing, on April 29-30, at Vishakhapatnam.
The New India Summit is a platform to discuss, deliberate, and highlight the issues connected with Tier 2, 3 & 4 cities, come to conclusions and prepare a plan of action to address the challenges. COVID – 19 Pandemic had hit the businesses and economies in all parts of the world. Skyrocketing prices of materials used for construction, scarcity of trained labour and other resources, ever changing statutory and regulatory requirements, are all impacting the growth of the sector.
This new scenario requires innovative ideas to tackle this emerging situation. Even well established and reputed developers are in search of avant-garde methods to face the present situation. The 4th edition of NIS’s endeavour is to address the above issues and is aptly themed as “Cruise: Navigate the Future”.
The event will be addressed by expert speakers from the industry, academicians, consultants, Government stakeholders, who will share the much-needed insights on various topics covering problem-solving skills, handling growth-related issues, usage of technology to boost construction activities, decongesting metros, generating jobs, and contributing to the growth of the GDP and the growth of the nation. The summit is expected to witness participation from more than 500 developers across the nation.
Speaking on the much-needed intervention for real estate developers, G. Ram Reddy, Vice President, CREDAI National, said, “The metro cities have reached their saturation point in terms of development and occupancy. Tier II, Tier III cities remain unexplored and have abundance of scope for the real estate sector to flourish. This segment has immense potential in the tier II and III cities as land prices are affordable and land is easily available. CREDAI
understands and acknowledges the importance and significance of the role that realtors from smaller cities will play in the long-term growth of the industry and the economy as a whole.”
Dharmender Varada, Convenor, New India Summit 2022, said “The Indian real estate sector, being a major catalyst in the country’s economy, is currently prepping up for a revolution in terms of development. We at CREDAI, believe that this new revolution will be led by the non-metro cities of the country. New India Summit aims to celebrate the emergence and the contribution of the Tier II, III, and IV cities towards the immense growth of the sector. Only
through development of these smaller cities and making increased investments in affordable housing segment can help in realizing the vision of Housing for all by 2022.”
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