CREDAI-NCR firmly upholds the belief that prioritizing the interests and requirements of homebuyers is a collective responsibility that should be evident in all facets of the real estate sector. It seeks to accomplish this by ensuring transparency in all transactions, instilling accountability among its members, and striving to fulfill the aspirations of every homebuyer. This perspective was shared by Mr. Manoj Gaur, Chairman of CREDAI-NCR and CMD of Gaurs Group, in an exclusive interview with Sanjeev Sinha. Here are the key insights:
Primary Focus Areas: CREDAI-NCR gives paramount importance to several crucial areas within the real estate sector. These include sustainable development practices, adherence to RERA (Real Estate Regulatory Authority) guidelines, effective implementation of GST (Goods and Services Tax), and adopting a data-driven approach to collect timely and accurate reports. CREDAI-NCR recognizes that these focus areas play a pivotal role in promoting transparency, accountability, and the overall well-being of the real estate sector.
Prioritizing Homebuyers: Homebuyers are placed at the forefront of CREDAI-NCR’s policies and practices. The organization firmly believes that catering to the interests and needs of homebuyers is a shared responsibility that should permeate every aspect of the real estate industry. CREDAI-NCR aims to achieve this by ensuring transparency in all transactions, fostering accountability among its members, and striving to fulfill the aspirations of every homebuyer. By doing so, CREDAI-NCR envisions creating a housing market that is not only customer-centric but also aligns with the dreams and desires of every prospective homeowner.
Commitment to Sustainability: CREDAI-NCR is deeply committed to sustainability and environmental responsibility within the real estate sector. As per CREDAI National’s directives, one of its central goals is to achieve net-zero emissions by 2050. CREDAI-NCR encourages its members to embrace environmentally responsible practices to collectively fulfill this commitment. This involves integrating green technologies into their real estate projects and actively promoting sustainable development and the Green Building Initiative. This showcases the organization’s dedication to minimizing the environmental impact of the real estate industry, ensuring a healthier and more sustainable future for generations to come.
Air Pollution Concerns: The real estate sector acknowledges the significance of air pollution and its impact on the environment and construction activities. While the industry supports efforts to reduce pollution levels, it also expresses concerns about certain aspects. For example, a one-month construction ban is expected to result in project delays of at least two to three months. The strict RERA registration process already obliges real estate developers to minimize their pollution footprint. Despite these challenges, developers take proactive measures like regular water sprinkling and the installation of anti-smog machines and windbreakers to mitigate pollution. The industry emphasizes the need for a case-by-case approach to air pollution regulations and suggests considering RERA-registered projects as public interest projects, potentially exempting them from specific pollution control guidelines. This approach aims to balance environmental concerns with the necessity to sustain construction activity and protect the interests of both homebuyers and construction workers.
Outlook for High-Street Retail and Mixed-Use Developments: High-street retail and mixed-use developments are expected to continue their growth trajectory in the NCR. These developments demonstrate resilience and tend to gain momentum, especially during challenging economic times. Their appeal lies in their capacity to offer a diverse range of functions, including offices, businesses, residences, and recreation, all within one location. This convenience factor ensures ongoing demand for high-street retail and mixed-use developments, making them a promising segment in the NCR’s real estate market.
Festive Season and Realty Market: The real estate market anticipates a significant surge in sales during the upcoming festival season. Interest from buyers has remained strong across various residential segments, including affordable housing, luxury properties, mid-premium, and premium categories. With a range of ready-to-move-in homes and under-construction properties available, there is ample inventory to cater to diverse buyer needs. Sales are expected to show substantial growth compared to the same period in the previous year, driven by the festive spirit and favorable market conditions.