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CREDAI, the apex body of real estate developers with over 13,000 members, has released its "National Real Estate Development Framework Vision 2047" during its annual conference in Singapore. The plan sets out nine focus areas including land reforms, affordable housing through land banks, development of 100 new cities, easier and faster building approvals, rationalised charges, and dedicated infrastructure funding. It also highlights slum redevelopment, promotion of green buildings, adoption of new technology, skilling and labour welfare, and climate-resilient urban planning. The framework calls for phased implementation with strong oversight at both national and state levels.
At its annual conference in Singapore, CREDAI launched the "National Real Estate Development Framework Vision 2047," which sets out a long-term plan to transform India's real estate sector. CREDAI, which represents more than 13,000 real estate developers, said the industry needs structured reforms and collaboration to be globally competitive. Advertisement
CREDAI President Shekhar Patel noted that the sector should not only focus on building structures but also on supporting communities, livelihoods, and aspirations. He stressed that the real estate industry will play an important role in India's journey towards becoming a developed nation by 2047.
The framework outlines nine pillars. The first is land reforms, where CREDAI has called for conclusive land titling through the Land Titling Act and the creation of a unified national digital land register to improve transparency and access.
The second pillar is affordable housing. The report recommends creation of land banks to make land available at a lower cost for housing projects.
Development of 100 "cities of tomorrow" is the third pillar, aimed at addressing future urban growth. Alongside this, CREDAI has emphasised the need for improved ease of construction by digitising and streamlining building approvals, setting time-bound processes, and reducing approval charges.
The framework further suggests rationalising development and approval fees and establishing dedicated infrastructure financing through government-backed bonds. Other focus areas include slum redevelopment, promotion of green and sustainable buildings, and wider use of technology in both construction and customer services.
Skill development and labour welfare form another major pillar. CREDAI has asked for state-led demand assessments, sector-specific training facilities, and reforms to ensure labour cess collections directly support workers.
The final pillar is ease of living. This involves recognising cultural heritage in urban development, encouraging citizen-driven governance, and ensuring climate resilience in infrastructure planning.
CREDAI has also proposed high-level committees under the Prime Minister, state-level war rooms, and a phased approach to implement the framework. The association underlined that collaboration across government, developers, and financial institutions will be needed to carry the plan forward.
Past reforms such as the Real Estate (Regulation and Development) Act, Goods and Services Tax, and affordable housing schemes have already helped improve transparency and formalisation in the sector. CREDAI's new framework seeks to build on these efforts with a broader roadmap.
Source PTI
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