CREDAI pledges 1,000 green buildings by 2025
The Confederation of Real Estate Developers Association of India (CREDAI), an apex body of real estate developers, on Saturday announced a nation-wide partnership with the Indian Green Building Council (IGBC) and pledged to get 1,000 projects certified green buildings over next two years
MUMBAI: The Confederation of Real Estate Developers Association of India (CREDAI), an apex body of real estate developers, on Saturday announced a nation-wide partnership with the Indian Green Building Council (IGBC) and pledged to get 1,000 projects certified green buildings over next two years, and 4,000 projects by 2030 in an aggressive over towards sustainability.
The announcement was made by Boman Irani, Chairman and Managing Director of Rustomjee Group who took over as the new CREDAI National President from Harshvardhan Patodia at the investiture ceremony held at Taj Mahal Palace hotel. Irani handed over the reins of CREDAI-MCHI to Domnic Romell of Romell group.
Speaking to reporters earlier, Patodia said “When I took over as the Credai National President in 2021, the second phase of Covid pandemic was on the real estate industry and we were focused on finding a solution for the virus. But, no one had imagined that the industry will reach this exciting inflection point of robust demand and growth.”
Patodia said the real estate industry will play a key role in Indian economy’s journey to USD 5 trillion economy that the Prime Minister has outlined. “The industry is presently contributing 7 to 8 per cent to the gross domestic product (GDP), and it can potentially contribute up to 30 per cent due to the multiplier effect that the industry can achieve due to more than 252 allied industries linked with the construction sector,” said Patodia, who predicted robust growth for the sector for the next 10 years “What SEBI has done to capital market, RERA will do to the real estate industry,” he said.
Irani said the environment will be one of his key focus. He said the commercial buildings are already going the green way as not only investors, but customers are also insisting on at least Gold certification for office buildings. He said though developers are increasing moving towards green buildings, Credai as a body had decided to give it a uniform framework in collaboration with IGBC.
Irani underlined the acronym Growth – Green construction, Reforms, Opportunity to build new India, Woman empowerment, Transparency, Housing for All - as the theme of his two year tenure.
Credai MCHI represents over 1,800 members in Mumbai Metropolitan Region, while Credai National has presence in over 220 cities.