Credit gives the word to pay either by repaying it or returning those resources later. In other words, this credit is the method of making the reciprocity formal, legally enforceable, and of course, extensible to a vast group of people who are not related.
However, the resources provided may be financial or have goods or services, like consumer credit. The credit covers any form of deferred payment. Credit generally gets extended by the creditor, the debtor or lender, and sometimes the borrower.
The leading organisation for Indian real estate developers is CREDAI. The mission of CREDAI is to encourage housing and real estate projects while disseminating knowledge about the real estate sector. By engaging in these initiatives, CREDAI hopes to promote economic development. This organisation, which has created an ethical code of conduct for all its members, has over 3,500 developers from 18 states.
CREDAI works closely with all stakeholders, including policymakers, investors, financial firms, consumers, and real estate professionals, to make the real estate sector structured and progressive. CREDAI is a respected government partnerwith representatives on several committees involved in creating policy. CREDAI works in policy advocacy with the Government, including:
• Ministry of Housing and Urban Affairs,
• Ministry of Environment, Forests and Climate Change,
• Ministry of Finance,
• Ministry of Civil Aviation,
• Ministry of Skill Development & Entrepreneurship,
• Ministry of Labour & Employment and agencies like the Bureau of Indian Standards (BIS), Bureau of Energy Efficiency (BEE), Niti Aayog and others.
Coordination between authorities, experts, consultants, and real estate developers is facilitated through CREDAI. In addition, it arranges a yearly real estate conference, workshops, seminars, and roundtable gatherings.
By coordinating with the Ministry of Urban Development, the Planning Commission, the Ministry of Housing and Poverty Alleviation, and the Ministry of Environment and Forests, CREADAI works with government ministries. Additionally, the agency participates in policy-making by offering suggestions and presenting arguments.
Additionally, it presents new building methods, compiles statistical data, and promotes the interests of construction employees. Additionally, CREDAI is active in training construction employees. The organisation carries out research in the field of building and real estate development. Currently, CREDAI is aggressively promoting affordable housing throughout India.
In government forums, CREDAI brings forward concerns involving developers and builders. It is in charge of serving as a SPOC (single point of contact) on the most recent real estate industry developments and also advises policy improvements. Its services include making representations, highlighting pertinent concerns and unifying the developers. CREDAI assists its members in obtaining qualified counsel on a range of topics.
CREDAI promotes professionalism. It assists its members in developing positive working relationships so they may better serve their clients. With the help of events, workshops, and grievance redressal cells, it fosters a positive image of real estate before the public, the media, and the Government.
