Credai unveils ‘Real Estate Vision 2030’ report

Insurance scheme for construction workers launched

The Confederation of Real Estate Developers Associations of India (Credai) on Saturday came out with “Real Estate Vision 2030, Tamil Nadu”, a comprehensive report on the sector.

Minister for Housing and Urban Development S. Muthusamy released the report at Credai Fairpro 2022 event, which is happening at the Chennai Trade Centre.

The Minister launched an insurance scheme for workers rolled out by Credai in partnership with Tamil Nadu Construction Workers’ Welfare Board. The insurance cover includes personal accident relief, educational assistance and marriage assistance.

While delivering his address, the Minister said the government intends to construct a safe place for those in Bethel Nagar (Injambakkam). “We want to plan and do this in a joint venture mode. We will provide a housing space and the remaining land can be put to good use,” he said.

Meanwhile, the report which was done along with Savills, has provided recommendations to the State governmnt on each of these sectors. Among its recommendations are establishing country's first toy museum, tax incentives for companies from BFSI sector within proposed dedicated FinTech city, a BFSI hub similar to Gift City in Gujarat, subsidising electrical tariffs to boost the development of cold chain infrastructure in State. The report pointed out that Chennai had several old buildings which need refurbishment and private participation would help here.

Every builder showcasing properties at the Credai Fairpro 2022 has taken a pledge to offer buyers lowest possible price during the three days of exhibition which is from March 4-6.