CREDAI Commits to Creating Numerous Units of Affordable Property in India

New and affordable property in India will be built by the members of the CREDAI who plan to erect 250 new affordable housing projects across India. The chapters of the CREDAI that are present in various cities will oversee the launch of the projects which will be built according to the guidelines laid out by CREDAI National. 

The Stated Goal

The CREDAI endeavours to create a large number of affordable housing units with the stated goal that members and customers may take advantage of the government incentives which have made affordable housing within the reach of many who today do not live in formal housing in the urban centres of India. Another goal of the mission by the CREDAI is simply to create more units of affordable real estate in India for Indians.  

CREDAI Quotes Regarding New Projects

The president of the CREDAI has stated that his goal is to take advantage of the post budget government incentives which have been put into place to accelerate demand for affordable housing across India. He believes that post budget, the demand for affordable housing has been highlighted and incentivized and the initial plan to construct 250 new affordable projects is just the tip of the iceberg as the CREDAI hope to create an even larger number of affordable projects in the future.

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Location of the Mentioned Projects

According to reliable property sites in India, the mentioned projects will be built in tier 1, 2, and 3 cities. The 250 projects are expected to be built in 100 different tier 1, 2, and 3 cities. Real estate insiders have stated that while work on the projects mentioned has not begun, the projects have either already received approval or are in the process of receiving the same. This property site has learned that all 250 projects being undertaken by the CREDAI will be completed within three and a half years. 

What does this mean for Real Estate in India?

After agriculture, the second biggest employer in the country is the real estate sector. With the incentivization of the construction of affordable housing, this real estate website believes that the real estate sector will become the largest employer in the country within a decade.