19th NatcoN 2019
FOR PRIVATE CIRCULATION ONLY
Vol-
8 Iss
ue-2
/ Jun
-Jul, 2
019
pg
28
Looking back at72 years of Independence
pg
VISAKHA VISION
10
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CREDAI VISAKHAPATNAM (Regd. No. 231of2010)
EDITORIAL BOARD K.S. Chandran, LAYOUT, DESIGN & PRINTED AT SATHYAM OffSET IMPRINTS, Brindavan,
#49-28-5, Madhuranagar, Visakhapatnam. Mob : 984 999 6538. PUBLISHED BY CREDAI VISAKHAPATNAM,
#9-6-43, flat No. 2, Ground floor, MVV Bhavan, Sivaji Palem, Visakhapatnam-530017. Ph.: 0891-2739612,
Mob : 98488 54448, 99120 54448 E-mail : [email protected], [email protected].
Website : www.credaivisakhapatnam.org
All the Members are requested to get their address updated with the association in order to ensure timely
delivery of magazine also your email ID for speedy communication. If you are not receiving a copy of magazine
of CREDAI, VISAKHAPATNAM chapter, Please contact @ 9848854448
Dear Readers,
Greetings & Good wishes
We are entering a new era of our construction
industry with generous support from state and
central governments, in the form of booster doses
from finance ministry and introduction of new sand
policy by state government. There may be some
teething problem, but we have to move in positive
direction.
Entire country is under stress due to unsold inventory
which makes the industry limping. There is slow
down of economy world over, Visakhapatnam always
stands as an exception in present and past. The
reason for this is a known factor. All he stakeholders
move with full responsibility, vision and transparency.
Dear Readers,
Greetings & Good wishes
Editorial
Our Nat con is providing many opportunities,
guidance and exposure .It is our duty to grab such
chances directly or thro’ knowledge of sharing
An important area which requires specific attention
is towards safety while construction ans post
construction. Every project should be provided all
facilities for future maintenance of services and
proper transitional support to building societies.
Let us live in healthy and peaceful environment
K.S. Chandran
Bulletin Editor
5 | CREDAI VISAKHA VISION | 2019
Never overlook the power of simplicity, which is the ultimate sophistication
Dear member,
Warm greetings,
I start my message……..
Invoking the blessings of Lord Ganesha
to all of you, on the occasion Vinayaka
Chaturdhi .
As you must be aware, there has
been talk of economic slowdown in
the country, impacting all sectors of
economy, and as the second largest
employer of labor, realty sector is no
exception to it.
But the happy news is that, as far as
builders in these parts are concerned,
the negative impact of economic
slowdown is minimal.
Now I come to the core issues of our
community.
Change is the law of nature. In
its course, there would be new
opportunities to grab and new
problems to face. Realty sector had
also been completely transformed,
throwing up new opportunities and
new problems. The government had
enacted certain laws to meet the
changed situation. The most important
law that is enacted to deal with realty
sector is RERA, followed by GST, aimed
at completely changing and reforming
taxation structure. Apprehensions have
initially been expressed about these
laws and their possible impact. But let
us have a positive look at these laws,
meant to reform the system, and follow
the provisions meticulously.
Let me recall that, many of the
provisions in the RERA, aimed at
protecting customers’ interests, are part
of our association’s Code of Conduct,
and we have been implementing those
provisions voluntarily since long. The
only difference is that they have now
become mandatory
When new laws are enacted, teething
problems are bound to arise. As times
pass, everything would be in place.
On our part, let us follow all provision
of laws and do our business honestly,
profits and prosperity would follow.
To keep you abreast of latest
developments in various fields
connected with our sector, the
association had been organizing
awareness programs and lectures
by subject experts like CAs, officials
of National Academy of Customs,
Indirect Taxes& Narcotics (NACIN) at
association’s regular meetings.
I am happy to inform you that the
association had relentlessly been
following these issues with all concerned
including the ministers concerned.
In this regard, Hon’ble, MP, Sri MVV
Satyanarayana, a dynamic person from
our own fraternity, has been of great
help. He has been taking personal
interest in solving our problems. He had
also brought the burning problem of
sand to the notice of the Chief Minister
President’smessage
6 | CREDAI VISAKHA VISION | 2019
You don’t have to be great to start, but you have to start to be great.
Off
ice
Bear
ers
ChairmanK. Rama Krishna [email protected]
PresidentB. Srinivasa Rao [email protected]
Vice-Presidents: Chilukuri [email protected]
E. Ashok [email protected]
N. Srinivasa [email protected]
Hon. Secretary:V. [email protected]
Joint-Secretaries:K.V.R. Raju (Ramesh)[email protected]
Treasurer:Ch. Govinda [email protected]
Committee Members:V. Murali [email protected]
Azizulla [email protected]
N. Vamsi [email protected]
N. Ravi [email protected]
Youth Wing Co-ordinator:J. Kumar [email protected]
through which the brand image of the
association could be projected and
enhanced. It would also be the event to
which potential customers will visit and
may select their dream homes or sites.
It is an opportunity for all of us to put
in our best efforts and impress people,
especially potential customers, which
is the ultimate target of any builder.
So let us work right from now and
make it a grand success. Members of
CYW have a crucial role to play in this
aspect and I strongly appeal all, to be
pro-active, put in your best efforts and
ensure that the Property Show this year
is a memorable one.
I realize the task is tough.
But, remember the adage that when
the going gets tough, the tough
gets going!
Before I close, I once again invoke
Lord Vinayaka, to shower his choicest
blessing on you and ensure a hurdle-
free, hassle-free business environment
and happy and harmonious domestic
ambience.
Warm Regards,
B. Srinivasa Rao,
President,
and I am glad to inform you that sooner
than later, I would be able to inform to
you very positive results, concerning all
our issues mentioned above.
Now, I wish to share my experiences
with the recently organised CREDAI
Nation’s NATCON19 tour to Tel Aviv,
capital of Israel. This important annual
gathering of CREDAI National is
attended by nearly 1200 top realtors
in the country. From CREDAI-VSP
also, 25 members had attended.The
theme of NATCON19 is “Resilience to
Excellence”
It was both educative and enjoyable.
Interacting with top realtors, including
office bearers of CREDAI National,
rubbing shoulders with VVIPs and other
prominent persons, who had attended
to deliver lectures on important subjects
during technical sessions, has been a
unique experience that gets etched in
the memory of participants for a long
time. If this is educative, the add-on
tour to Jordan and other important
places that followed, had been quite
enjoyable.
I strongly recommend that every
member of CREDAI-VSP should make
it a point to attend NATCON in future.
You are aware that the dates of
association’s Property Expo 2019
December 20th 21st and 22nd are fast
approaching. It is the most important
event of our association, where
products required for construction
of houses would be on display and
7 | CREDAI VISAKHA VISION | 2019
You don’t have to be great to start, but you have to start to be great.
8 | CREDAI VISAKHA VISION | 2019
It is not the “length” but the “strength” that matters.
CREDAINational PresidentS r i S a t i s h M a g a r ’ sVision for India’s realtysector and his task list.
Immediate Task:
The first task is to create an organizational structure
which will facilitate smooth functioning of CREDAI.
For this, we will create five different zones. Each
zone will have a zonal secretary. I have proposed to
form a council for the past presidents of CREDAI, so
that, their knowledge and experience can be utilized
more effectively for the benefit of the sector.
Plans for increasing CREDAI’s presence in the
country.
CREDAI is present in at least 200 cities in 23 states.
During my tenure we will aim to add 100 more cities
to this list, where in the focus of attention will be
more on tier 2 and tier 3 cities. Initially, we will look at
increasing our foot print in the southern parts India.
Priority for the Realty Sector.
The two key areas that are on top of my priority list
include—building a stronger ecosystem and impart
specialized skill training.
After a comprehensive
analysis, a road map
has been chalked which
includes training workshops
for construction laborers and
on-job training. We aim to train
at least one lakh construction
laborers in the next two years.
The team will collaborate with
bodies like RERA, Building and
Other Construction Workers
(BOCW) and welfare boards for
exploring further opportunities
and growth areas. The customized
industry partnered skilling programs
will be launched to create a pool of
skilled laborer’s for the real estate
sector. Environmental sustainability
is also among the key areas of work
for CREDAI. Being en environmentally
conscious organization we wish to plant
five lakh trees across India in the next
two years.
9 | CREDAI VISAKHA VISION | 2019
The world is changed by your example, not by your opinion.
10 | CREDAI VISAKHA VISION | 2019
Your smile is your logo and your personality your business card.
Looking back at
72of Independence
years
Amid the dual challenges of liquidity crisis and stuck projects that hang like persistent thunderclouds over the sector, we nevertheless inch closer to the ultimate goal of Housing for All by 2022.
From the viewpoint of stuck and delayed projects, the freedom to buy homes has turned into shackles for many. Over 1.74 lakh homes in 220 projects across the top seven cities are completely stalled. Housing worth over Rs 1.77 lakh crore is in limbo with zero construction activity.
The affected buyers exercised their freedom of choice – only to see their hard-earned money imprisoned with scarce prospects of parole until recently.
Nevertheless, this state of affairs is not unilateral and countless more Indians have indeed successfully achieved freedom from rent. Though not nearly as fast as can be hoped for, housing sales are picking up. In sharp contrast to earlier years, the government has now given affordable housing a distinct identity and several valuable incentives.
2019 also saw rental housing being given its first tangible push. After decades of languishing in the dungeons of obsolescence, India’s rental
As India embarks on another year of
independence, the country’s real estate
sector has a lot to be grateful for, a lot to
hope for – and still a lot to worry about.
laws are being unfettered with an upgrade in the Draft Model Tenancy Act, 2019. Finally, the trust deficit between tenants and landlords can be bridged and both parties’ rights and obligations are being clearly defined.
The most recent Consumer Protection Bill, 2019 promises to unleash a brand-new level of freedom to consumers – the freedom from misleading promotions. RERA had already clearly defined the acceptable from the unacceptable when it comes to real estate promotions, and this bill adds further muscle to consumer rights.
The era of misleading and/or inaccurate promotion of housing projects – including by celebrities – without fear of legal backlash is finally coming to an end.
And, finally, buying real estate in Jammu & Kashmir is actually something people from outside this long-disputed region will be at liberty to consider – once the dust of change settles.
However, for all the silver lining, the thunderclouds that overshadow the real estate sector on India’s 72nd Independence Day cannot be dispelled by mere positive thinking. Real solutions are called for.
11 | CREDAI VISAKHA VISION | 2019
No beauty shines brighter than that of a good heart.
A way out of the liquidity crisis?
The NBFC crisis in late 2018 hit the already-ailing realty sector hard and brought whatever optimism and growth the residential segment was beginning to see to a screeching halt once more.
With minimal customer advances, the construction of several projects got stalled. Despite developers having all necessary approvals as well as the will to complete them, lack of funds held the entire situation hostage. End of the line? Not quite.
The government is taking a series of steps to bail out the NBFCs. Union Budget 2019 made several announcements in support of financially sound NBFCs, few as they may be, in these turbulent times:
To purchase high-rated pooled assets of financially sound NBFCs, amounting to a total of Rs 1 lakh crore during the current financial year, the government will provide one time six months’ partial credit guarantee to Public Sector Banks for first loss of up to 10 per cent.
• To allow NBFCs to raise funds in public issues, the government has done away with the requirement of creating a Debt Redemption Reserve (DRR), which is currently applicable for only public issues (private placements are exempt).
• The Finance Ministry announced that the National Housing Bank (NHB) will infuse an additional Rs 10,000 crore in NBFCs to improve funds inflow.
• In its monetary policy, the RBI has gone the extra mile to revive confidence in well-functioning NBFC entities. The single-borrower exposure limit for bank lending to NBFCs has been increased to 20 per cent of the lender’s capital (as compared to 15 per cent earlier). The RBI will also recognise bank lending to registered NBFCs for select purposes as priority sector lending.
The law awakens to homebuyers’ plight
Freedom without judiciary support is meaningless –
citizens of a free country have the right to expect the law of the land to intervene on their behalf.
The Supreme Court verdict on the Amrapali Group case, cancelling the RERA registration of the group, was such an intervention. Appointing the National Buildings Construction Corporation (NBCC) to complete the group’s stalled projects, the Supreme Court revived the hopes of thousands of homebuyers.
It is certainly not a ‘template law’ which can be slapped on all and every defaulting developer, and every case of stuck or delayed projects will need to be judged by its unique circumstances. However, this landmark judgement sets a precedent for developers to complete delayed projects and also cough up compensation for delays.
A house over every Indian’s head – how close are we?
In previous years, strong political will was often highlighted as the most necessary catalyst for change in a country like India. It has arrived – Modi 2.0 has displayed a single-minded focus on many fronts, and not least of all in its promotion of affordable housing. There is little reason to second-guess this government’s will to see its goals to fruition.
Nevertheless, developers face several roadblocks to adopting the affordable housing mantra wholeheartedly. Where will the necessary land in central urban areas come from? When will the basic infrastructure necessary to make the cheaper peripheral areas viable for affordable housing be built?
These are real challenges. Not surprisingly, of the total housing supply of 139,490 units in the top seven cities in H1 2019, merely 39,840 units qualify for the government’s incentives for affordable housing.
Pradhan Mantri Awas Yojana (PMAY) has set hard targets for the next two years. As per government’s estimates, a total of 1.54 crore rural homes have been completed in the last five years. In the second phase of PMAY-G, during 2019-20 to 2021-22, 1.95 crore
houses are to be provided to eligible beneficiaries.
With a fresh batch of over one lakh houses being sanctioned under the scheme, the cumulative number of houses sanctioned under PMAY-Urban has crossed 85 lakh.
A series of policy reforms and schemes have pushed both supply and demand for affordable housing. With a total of 1.54 crore rural homes completed in the last few years, we may be a lot closer to the Government’s target than it seems.
If RERA is implemented nationwide and the liquidity crisis is resolved, a lot more housing inventory will hit the market. However, the on-ground realisation of the government’s Housing for All by 2022 vision actually hinges only on three main factors:
• The release of government-held land in urban areas (recognition and delineation of non-essential land currently held by government bodies such as Department of Heavy Industries, Indian Railways, Ministry of Public Enterprises and Port Trusts. The unlocking of such lands for affordable housing will also bring down prices)
• The rapid development of support infrastructure (roads, water and electricity, sanitation and sewerage) in peripheral areas connecting them to cities’ main workplace centres, and
• Streamlining the housing projects approval process (single-window clearance, relooking at development control, amending Land Acquisition Rehabilitation Act, 2013.)
The Model Tenancy Act, 2019 – taking rental housing out of the ICU
When it comes to making Housing for All by 2022 a reality, rental housing can go a considerable way in bridging a deficit that homeownership cannot. The Model Tenancy Act 2019 is a major step in that direction.
Even after over seven decades of independence, India’s rental housing market was stuck in a legislative rut that made tenant-landlord conflicts
12 | CREDAI VISAKHA VISION | 2019
It is very simple to be happy, but it is very difficult to be simple
the order of the day. The Model Tenancy Act aims to salvage this situation by establishing a Rent Court and Rent Tribunal to hear appeals for matters connected to rental housing.
Ultimately, the increased attractiveness of rental housing will boost its stock and help students and white and blue-collar workers find homes in cities where they cannot afford to buy them. It will also bring investors – key players when it comes to rental housing – back to the market.
However, it remains to be seen how effective this key Act is on the ground. With land remaining a state subject, it is up to individual states to adopt the Central rules without too much dilution.
The RERA effect
It was not the magic wand it was hoped to be. However, over the past two years, the Real Estate Regulatory Act (RERA) has brought more sanity – and the return of consumer power – than seemed possible in such a short time. The real estate sector is still struggling with it and the Act is very much work-in-progress in many states, but RERA nevertheless hangs like a sword of Damocles over a previously unregulated industry. Eventual compliance across the board seems inevitable.
According to the latest readings on the Ministry of Housing and Urban Affairs (MoUHA) website:
43,208 real estate projects and 34,182 real estate agents have registered under RERA across the country.
The incumbent government has envisioned India’s real estate sector as attaining international standards of transparency and accountability. With political will not being a matter of debate anymore, the question is not ‘if’ but rather ‘by when’ real estate buyers and developers can expect to deal with the other with complete confidence, anywhere in a country where no corner of the market is left unregulated.
The Consumer Protection Bill, 2019 to end misleading promotions
This critical piece of legislature can strengthen the
13 | CREDAI VISAKHA VISION | 2019
Respect is for those who deserve it not for those who demand it.
rights of homebuyers considerably. Among various favourable provisions, the bill – when it becomes law – will enable harassed homebuyers to file complaints with the District Consumer Commission or State Consumer Commission from anywhere. Earlier, complaints were very much jurisdiction-bound and could only be filed at the place of purchase or where sellers have registered offices.
Under the Bill, celebrities endorsing misleading real estate advertisements and promotions are also liable for legal action, as well. In a free country, consumers must be considered intelligent enough to know that celebrity endorsements have absolutely no bearing on a product’s inherent worth. They are only indicative of how much money was spent on costly endorsements
Such funds are far better spent on improving projects, building the faster, and on intelligent marketing aimed at intelligent consumers. Developed nations already have strong laws protecting consumers from fraudulent advertising. It is high time that Indian consumers are given the same benefit.
Is Kashmir’s real estate market opening up?
The government’s recent decision to revoke Article 370 and Article 35(A) is expected to have a positive impact on Jammu & Kashmir’s overall real estate market, which has been quite dismal so far. Property prices in Srinagar, for instance, still hover between Rs 2,200-4,000 per sq ft – significantly low for Tier-II and Tier-III cities in the country.
On the one hand, locals will finally see an increase in the value of their properties. On the other, the really exciting prospect is the opening up of opportunities for Indians from outside J&K to finally invest in immovable property here. In fact, in his recent address to the nation, the Prime Minister categorically invited various industries – including Bollywood – to make investments across the entire region.
That said, it is still too early to gauge the real impact of this move on Kashmir’s real estate market – as of now, it is still a highly sensitive region and security concerns may keep property buyers at bay. Once
it stabilises, it will need the benefits of RERA-level regulation.
Since Jammu & Kashmir will now, for all practical and legal purposes, be viewed like any other state/UT in India, all rules and regulations of the Central government will apply there as well. As for RERA regulations, the region will have to formulate its own policies, which may not be similar to other hill states that have their own respective laws.
RERA will make a difference here only when real estate activity picks up and people come forward to deal in property. Like in all other states, here too RERA must give an equal footing to both buyers and builders and prevent unregulated real estate activity.
If rules are in place from the very beginning, there will be little scope for manipulations later on. Moreover, transparent transactions will help build confidence of investors and buyers. Meanwhile, Ladakh – a major tourist hotspot which attracts scores of tourists all year round – will very likely see an uptick in hospitality sector activity over the coming months.
Endnote
Despite the challenges that remain, the Indian real estate sector – and the consumers that patronise it – have much to be upbeat about on our 72nd year of independence. For all that remains to be achieved, we repose our faith in a strong and determined government that has proved beyond all doubt that it means business.
We have already crossed several important milestones that seemed unachievable in previous years. There is every reason to believe that we will cross the ones that remain. Jai Hind!
About the Author:
Anuj Puri is Chairman at ANAROCK Property Consultants.
***
14 | CREDAI VISAKHA VISION | 2019
If we master of thoughts we master lives.
Realtors apex body CREDAI in its budget wish list
has demanded that banks should fund developers
to buy land for development of affordable housing
projects. It has also stated that the definition of
affordable housing should be same across all the
legislation.
“Land as a value of the project cost, comprises 40
percent of the overall project cost. With the advent
of RERA, one cannot sell until all approvals are
received which means that one needs funding either
by way of promoter equity or private equity,” CREDAI
said in its budget memorandum.
Land funding is typically done by NBFCs or private
equities, it said, but added that cost to developers
are as high as 25 percent.
“The support of the banking system is needed to
bridge this gap. Funding of land by commercial
banks was permitted by RBI until 2008 and should
be resumed at the earliest for affordable housing,”
CREDAI said.
The association, which has over 10,000 developers
as members, also pitched for uniform definition of
affordable housing.
“Currently, Section 80 IBA of Income Tax Act, GST
Act, DEA Notification dated 14.11.2017, Ministry of
Housing and Urban Affairs in respect of CLSS and
RBI adopt definitions of affordable housing which
vary among themselves,” CREDAI said.
It suggested that affordable housing definition drawn
from CLSS (Credit Linked Subsidy Scheme) should
be made universally applicable across all agencies
of the government.
Under the CLSS, affordable housing comprises
units with a carpet area not
exceeding 60 square metres within the cities of
Chennai, Delhi, Kolkata and Mumbai, and 120
square metres elsewhere.
CREDAI also demanded that income tax rebate
should be enhanced for payment of principal and
interest on home loan.
Source: Economic Times, Delhi/NCR
CREDAI seeks bank funding for developers to buy land for affordable housing projects
BANK
16 | CREDAI VISAKHA VISION | 2019
Knowledge is not power until it is applied.
MahaRera Suggestsappointing multiple agenciesto drive OCs to projects
• Move to help avoid monopoly of single person holding up project’s OC
• More than 700 projects have got delayed OC although developers ap-plied for OC on time.
Speaking at CREDAI’s Event ‘YouthCon-19’ held In New Delhi on February 13-14, 2019, Gautam Chatterjee, Chairman, MahaRera,opined that multiple agencies should be given the task of granting Occupancy Certificates to housing projects in order to break the monopoly of a single officer on whom the onus is put at present. He informed that there were 700 projects in Maharashtra alone where developers had submitted all documents and applied for OC well in time but all their efforts were stonewalled by a single officer who had the authority to grant the OC. Although the approvals had been given by the same planning authority, Gautam Chatterjee stated that he failed to understand why the officer representing the same planning authority took so much time for granting the OC to the project which had been built in accordance to the Commencement Certificate. He suggested the mechanism of outsourcing the process of granting Occupancy Certificates to multiple agencies having a panel of planners and architects to check and grant OCs to projects
so as to break the monopoly of the single officer who had power to delay the OC without any reason due to his lack lustre attitude.
Chatterjee educated about RERA along with Rajive Kumar, Uttar Pradesh RERA Chief; Anthony De Sa, Madhya Pradesh Chief; and KK Khandelval, Haryana RERA Chief; who were present at the event.
The MahaRera Chairman gave this opinion on the query by Nayan Shah, President, CREDAI-MCHI, who opined that developers are looking for the day when the approval authorities could come under the ambit of RERA.
CREDAI-MCHI is an apex body of developers, which is recognised by Government of Maharashtra and helps in meeting their objectives of providing housing, which is sought after human necessity/requirement. With a strong membership of over 1,800+ leading developers in Mumbai, CREDAI-MCHI has expanded across MMR, having its own units in Thane, Kalyan-Dombivli, Mira-Virar, Raigad and Navi Mumbai. Members of CREDAI-MCHI account for 80 per cent of the organised development of new residential and commercial properties in Mumbai and MMR area.
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18 | CREDAI VISAKHA VISION | 2019
Common sense is a flower that does not grow in every garden
WantedSkilled Workers!The Indian construction sector is the second highest contributor
to the GDP after agriculture, yet, faces the challenge of a colossal
skill gap. The formally skilled workforce in the country is only about
4 per cent, which is abysmal. Developers need to partner with the
Government and also proactively initiate training and development
for construction workers to bridge this enormous skill gap. For its
part, the Government has initiated the India Skills Mission and, in
2013, established the Construction Skill Development Council of
India (CSDC) that works with the industry and training partners. It
encourages associations and developer members to partake in the
initiative to achieve skilling numbers for the sector.
Skill development is a need Contrary to popular perception, skill
development in the industry is not an additional feature or mere
CSR, it is a pressing need. In the absence of adequate skilled
workers, it will be a challenge for crucial government initiatives such
as ‘Housing for All by 2022’ to be accomplished.
Some key factors to emphasise
on the need for skill development
are:
• Shortage of human resource:
Although the construction sector
employs about 33 million people at
present, steadfast economic growth
and ambitious infrastructure projects
coupled with the Government’s vision
for the housing segment will require
4 million additional people per year
over the next five years.
• Technology and mechanisation:
Technology is fast overtaking all
tasks in construction and is expected
to further increase in India. With the
advent of modular structures and
prefabricated and precast parts,
mechanisation has become an
integral part of the industry. With
this increase in technology and
mechanisation, the proportion of
unskilled labour is expected to
reduce (though absolute numbers
will rise owing to increased projects).
• Consumer centricity leading to
increase in facilities: Consumers
are at the heart of residential projects
and are increasingly expecting
additional services to be provided at
an added cost. Security, plumbing,
gas pipe and electrical services
will create the need for additional
personnel equipped with required
skills.
19 | CREDAI VISAKHA VISION | 2019
find a reason to smile every day.
• Improving the lives of construction
workers: Skill development and training
increase the wages of construction workers, to
about 100 per cent in many cases. This enables
them to achieve a better lifestyle and greater
employment opportunities. Through CREDAI’s
skilling initiatives, we’ve been fortunate enough
to bring about this change in their lives and
view the resultant shift in perspective first hand.
Moreover, CREDAI also encourages participation
in the National and World Skills Competitions for
trained workers; many have excelled at these
platforms, boosting their opportunities.
Ways to bridge the skill gap
The fraternity needs to unite to see a tangible
difference in the volume of skilled labour and, by
extension, quality long-lasting structures.
• Onus of developers: Developers need to take
greater onus of skilling construction workers as it
builds a platform for finesse in construction and
long-lasting structures. Moreover, developers
can effect a change in mindset by helping
workers imbibe the fact that training is important.
• Effective use of the government cess: Of
the construction cess collected for the welfare
of construction workers, only 10-15 per cent is
utilised. There is a huge opportunity to utilise
these funds and impact construction workers’
lives for the better.
• Utilise existing platforms: The Government
aims to make India the skill capital of the
world and various ministries are undertaking
initiatives to this end. Many programs have been
conceptualised, executed and monitored by
various organisations, working closely with the
Government, such as CREDAI, CII, FICCI, etc.
Further, initiatives and committees like Pradhan
Mantri Kaushal Vikas Yojana (PMKVY), National Rural
Livelihood Mission – Ajeevika Skills, National Skill
Development Agency (NSDA) and the National Skill
Development Corporation (NSDC) are overseen by the
ministries of Labour Welfare and Skill Development.
• Indeed, it is a collective struggle to bridge the skill
gap in our sector and all industry stakeholders must
come together to address the necessary concerns. It
should no longer be a choice but a sustainable duty and
responsibility to train our workers.
About the author:
Vishal Gupta is Chairman-Labour, Laws and Skill
Development, CREDAI National, and Managing Director,
Ashiana Housing. At CREDAI, he has spearheaded
skill development initiatives and been instrumental in
the training of 1 lakh workers under CREDAI’s skilling
programme.
Chairman Sri K.Ramakrishna Rao addressing 3rd regular meeting. He was flanked by President Sri B.Srinivasa Rao and Hon Secretary Sri V.Dharmender.
CA, Sri Ramakrishna Sangu, receiving a sapling from former Chairman, CREDAI-VSP Sri B.Raja Srinivas, at the 3rd regular meeting.
CA, Sri Ramakrishna Sangu, responding to the queries from President Sri B.Srinivasa Rao, Chairman Sri K.Ramakrishna Rao and Hon secretary Sri V.Dharmender on various issues connected with GST at the 3rd regular meeting.
Sri MVV Satyanarayana, first time signing CREDAI-VSP members register, as Member of Parliament at the 3rd regular meeting.
Hon’ble MP Sri MVV Satyanarayana, CREDAI-AP Chairman Sri K.Subba Raju, Former Chairman CREDAI-VSP Sri K.S.Chandran, and Sri GVV Satayanarayana, at the 3rd regular meeting.
Members of ELMOT, Alternators Pvt. Ltd. team offering a bouquet to Hon’ble MP, Sri MVV Satyanarayana at the 3rd regular meeting.
Photo Gallery |
20 | CREDAI VISAKHA VISION | 2019
There is no bigger happiness than the joy of giving.
President Sri B.Srinivasa Rao, addressing a meeting, arranged to felicitate Hon’ble MP Sri MVV Satyanarayana at the 3rd regular meeting. (From left)Former Chairmen Sri B.Raja Srinivas and Sri K.S.Chandran, CREDAI-AP Chairman Sri K.Subba Raju, Hon’ble MP Sri MVV Satyanarayana, Chairman Sri K.Ramakrishna Rao, former Chairman CREDAI-VSP Sri GVVS Narayana and Hon Secretary Sri V.Dharmender are also seen on the dais.
Hon’ble MP Sri MVV Satyanarayana being presented the felicitation plaque at the 3rd regular meeting of the CREDAI-VSP.President Sri B.Srinivasa Rao (with mike in hand), Chairman Sri K.Ramakrishna Rao, former Chairmen Sri B.Raja Srinivasa and Sri K.S.Chandran, Hon’ble MP, Sri MVV Satyanarayana, CREDAI-AP Chairman Sri K.Subba Raju, Hon’be MLA Sri Tippala Nagi Reddy…..former Chairman Sri GVVS Narayana and Hon Secretary Sri V.Dharmender are also seen.
Hon’ble MP, Sri MVV Satyanarayana was felicitated with a mega garland at the CREDAI-VSP’s regular meeting.
Hon’ble MP Sri MVV Satyanarayana was being felicitated by offering a bouquet by the office bearers of CREDAI-Kakinada at the CREDAI-VSP’s regular meeting.
Hon’ble MP Sri MVV Satyanarayana is being presented with a memento by members of CREDAI Vizianagaram Chapter, at the 3rd regular meeting of the CREDAI-VSP.
Hon’ble MP Sri MVV Satyanarayana is being offered a bouquet by the office bearers of CREDAI Srikakulam Chapter, Srikakulam, at the CEDAI-VSP’s regular meeting.
Photo Gallery |
21 | CREDAI VISAKHA VISION | 2019
Accept both compliments and criticism. It takes both sun and rain for a flower to grow.
Chairman, Sri K.Ramakrihna Rao, congratulating, Sri KVR Raju (Ramesh) for successful completion of his tenure as CYW Coordinator for the years 2018-19 at the 4th regular meeting on 1st July. President Sri B.Srinivasa Rao and Hon Secretary Sri V.Dharmender, had joined in congratulating Sri Ramesh.
President Sri B.Srinivasa Rao, presenting a memento and sapling to Sri G.Kartik who had successfully completed his tenure as Convener of CYW for the years 2018-19.
Vice President, Sri N.Srinivasa Rao, presenting a memento to Sri P.Subhash, Secretary, CYW on his successful completion of his tenure for the years 2018-19.
CYW Committee member Sri.B.V.Sreedhar, receiving a memento from Vice President Sri Ch.Srinivas at the 4th regular meeting.
On completion of their term of office, Office bearers of CYW for the years 2018-19 were extended a warm send off at the 4th regular meeting on 1st July.
EC member Sri K.Srinivas, welcoming new CYW Coordinator, Sri J.Kumar Nandan and CYW Secretary Sri B.Suman, for the years 2019-20 at the 4th regular meeting held on 1st July 2019 at the KSR Function Plaza.
Photo Gallery |
22 | CREDAI VISAKHA VISION | 2019
Believing in your self is the first secret of success.
Minister for MA&UD, Sri Botsa Satyanarayana, being felicitated by office bearers of CREDAI-Visakhapatnam, at a get together event in Vijayawada on26/07/2019.CREDAI-VSP President Sri B.Srinivasa Rao Hon secretary, Sri V.Dharmender are seen in the picture.
Minister Sri Muttamsetti Srinivasa Rao, responding to his felicitation by CREDAI-VSP at its regular meeting. (From right)CREDAI-VSP Chairman Sri K.Ramakrishna Rao, Hon’ble MP Sri MVV Satyanarayana, Hon secretary Sri V.Dharmender and President Sri B.Srinivasa Rao are seen in the picture.
Former Chairman, CREDAI-AP, Sri K. Subba Raju, is being presented a memento by CREDAI-VSP members, at the felicitation ceremony in Bheemavaram on 19/07/2019.CREDAI-VSP President, Sri B.Srinivasa Rao, Hon secretary, Sri V.Dharmender, Treasurer Sri Ch.Govinda Raju, Joint Secretary, KVR Raju and former Chairman Sri B.Raja Srinivas, are also seen in the picture.
Hon’ble Minister, Sri Muttamsetti Srinivasa Rao, has been extended a grand felicitation by the CREDAI-VSP at its regular meeting on 2nd August 2019. To Minister’s left is Hon’ble MP Sri MVV Satyanarayana. Senior members of CREDAI-VSP are also seen in the picture.
Minister Sri Muttamasetti Srinivasa Rao, releasing CREDAI-VSP’s bi-monthly Bulletin “VISAKHA VISION” at the regular meeting on 2nd August 2019. (From left) Hon secretary Sri V.Dharmender, President Sri B.Srinivasa Rao, Hon’ble MP Sri MVV Satyanarayna and Chairman sri K.ramakrishna Rao are seen showing copies of the magazine.
C.N. Ananta Narayanan, AD of National Academy of Customs, Indirect Taxes &Narcotics (NACIN), delivering an awareness lecture on “Sector Specific Training, Construction Services, GST at the regular meeting of the CREDAI-VSP on 2nd August 2019 at the KSR Function Plaza.
Photo Gallery |
23 | CREDAI VISAKHA VISION | 2019
Money is the worst discovery of human life, but it is the most trusted material to test human nature.
Will Visakhapatnamget a secondAirport?
D e s p i t e
the Jet Airways
crises, India is still
positioned as one of the
fastest growing domestic
aviation markets in the world.
That said, reports indicate that the
Civil Aviation Ministry is planning on
offering additional options for travelers with
talks on for a second airport to be planned
and developed in India.
According to reports, India and China will account
for almost half of the world’s air passenger growth
in the next two decades. With this, major Indian
cities would definitely require second airports. With
Mumba i
and Delhi ready to
get a second airport, talks are
on for Visakhapatnam, Kolkata, Chennai,
and Pune, among other cities.
As reported, the Airports Authority of India (AAI)
Chief raised concerns on the rising demand
for air travel in the country and the need for
a second airport in Indian cities. It is known
that AAI is operating 125 airports, including11
international aerodromes. The challenges lies
in land acquisition as the AAI Chief has been
reportedly cited stating that the construction of
an airport requires at least 2,000 acre, and that
AAI along with the Ministry of Civil Aviation has
been writing to state governments to reserve
land for a second airport.
24 | CREDAI VISAKHA VISION | 2019
Lesser the traffic of words in your mind…easier the journey in life.
Infrastructure should precede residential development and not the other way round.
Building affordable housing in far-flung areas with scanty connectivity and social infrastructure is not desirable as the target segment may not like to displace themselves and move to such a place. The solution is to fuel the infrastructure of metros connecting the far-flung areas through an efficient mass transport system, which would ensure that an increasing amount of landis made available in the market for development. Infrastructure should precede residential development and not the other way round. Approval timelines have remained a challenge for the real-estate sector. Single-window clearance with defined timelines will surely help the viability of the business and ensure more supplies are infused in the market.How do you view growth in affordable housing in the coming five years? Joyville is catering to the mid-income segment, which is important in the overall growth story for the next five years in India. We are present in four metros in India so far and would like to focus on getting into other job-creating metros like Bengaluruand Hyderabad, apart from expanding in Mumbai, Pune and Delhi (NCR).
Sriram Mahadevan, Managing Director, JoyvilleShapoorji Housing, shares more on the potential of affordable housing in India and the company’s focus going forward with SHRIYAL SETHUMADHAVAN.How do you view the availability of funds for project execution? For corporate developers, availability of funds has never been a challenge. The situation has not changed much, even during the current liquidity crunch witnessed overall in the financial market.How do you view the construction opportunities in the sector for the next five years?Demand for affordable housing has always been there; this lends itself to huge construction opportunities. The healthy pipeline of construction activities in the affordable segment will keep generating employment opportunities that, in turn, will fuel the GDP growth rate going forward. Thus, construction of affordable housing will surely contribute positively to the overall growth of the economy.Any recommendations to give a further fillip to the sector?
26 | CREDAI VISAKHA VISION | 2019
A few nice words can help a person a lot more than you think.
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28 | CREDAI VISAKHA VISION | 2019
Nowadays, people know the price of everything and value of nothing.
NATCON19The latest edition of CREDAI’s NATCON19, held on September 5,6 and 7, in Tel Aviv, the capital city of Israel, has been a mega success. As many as 1200 top realtors from all parts of the country attended the annual mega event of CREDAI. This is a record. A special feature of this important event this time is, it has been jointly organized by Andhra Pradesh and Telangana chaptees and delegates from small and medium towns had also participated. More than 350 delegates attended from both states.
The theme of this year’s NATCON was “resilience to excellence”. A number of issues connected with realty sector,like liquidity, rates of interest on housing loans have been thoroughly discussed. Sessions on latest technologies, innovations, human resources and their use in realty sector have also been discussed.
Israel is a country of technology and innovations and it helped greatly. Israel had developed technology to desalinate sea water into useful water. It recycles 80 per cent of used water. These are some inspiring aspects. Their best practices could be replicated where ever and whenever is possible.
Prime Minister of Israel Sri Nathanyahu had addressed the conference through video.
The mega convention was educative and the add-on tour for the participants of CREDAI-VSP Chapter was enjoyable. Israel is hub of technology and innovations. These could be used to reduce cost of construction. Participants had also the opportunity of rubbing shoulders with top realtors in the country as also with the VVIPs and VIPs who had delivered inspiring lectures at the sessions. This would be etched in their memories for a long time. The add on tour to important countries like Jordan and other places had been quite enjoyable.
th
20192019
The visit was worth its time and money.
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30 | CREDAI VISAKHA VISION | 2019
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Welcome to New Members into CREDAI-VSP Family
Loving nature is equivalent to worshipping god….Swamy Vivekananda.
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