Credai to hold New India Summit in Vizag on April 29, 30

Visakhapatnam: 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) will organise its 4th edition of the 'New India Summit (NIS) 2022', under its Micro Small and Medium Sized Developers (MSME) wing, on April 29 and 30 in Visakhapatnam.

The 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 has hit businesses and economies in all parts of the world. Skyrocketing prices of material used for construction, scarcity of trained labor and other resources, ever changing statutory and regulatory requirements, are all impacting the growth of the sector.

The 4th edition of NIS will be addressed by expert speakers from the industry, academicians, consultants and government stakeholders, who are expected to share 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. Over 500 developers from across the country are expected.

Speaking on the much-needed intervention for real estate developers, G. Ram Reddy, vice president of Credai National, told media on Tuesday that the metro cities have reached their saturation point in terms of development and

occupancy. Tier II and tier III cities remain unexplored and have an 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 getting ready 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 the affordable housing segment can help in realizing the vision of housing for all by 2022," Credai-AP president, B Raja Srinivas said.

He said that NIS is a knowledge sharing platform and the focus will be on emerging cities, that is tier 2,3 and 4 cities. The NIS will help participants to get educated and gain confidence, said Credai-Visakhapatnam chairman Bayana Srinivasa Rao.

Credai-AP general secretary K Subhash Chandra Bose, joint secretary Peela Koteswara Rao, Credai-Visakhapatnam honorary secretary E Ashok Kumar, Credai-AP youth wing secretary G. Karthik and Visakhapatnam secretary BV Sreedhar, participated.