CREDAI’s State-Level Builders’ Meet Concludes

Bhubaneswar: Over 100 builders from eight cities participated in the state-level meeting of CREDAI Odisha held here on Friday to discuss various key issues of real estate sector.

Speaking on the occasion, CREDAI Odisha chairman DS Tripathy elaborated on issues related to delay in getting project registration by Real Estate Regulatory Authority (RERA). He said that the real estate sector has been facing a lot of difficulties as block approvals are
still being kept on hold by RERA and the completed projects registered with RERA, owing to the absence of occupancy certificate which has been waived out in other states.

“Other leading states have adopted many reforms to minimize the investment on realty sector to create more stock of affordable housing in market. However, in our state in spite of having affordable housing policy, the private developers are unable to tap the market because of other unreasonable revenue charges increase the initial investment and
increase of cost of housing,” Tripathy added.

The meeting concluded highlighting the module followed by other progressive states and it was decided to meet the authority concerned  and policymaker to brief the difficulty of realty sector and streamline the process for proper growth of this sector.

On the occasion SK Routray, BK Das, Madhu Mohanty, Md. Muquim, Umashankar Panigrahy, Umesh Khandelwal, Anil Kumar Agrawal, S S Garabadu, P R Maharana, Prasana Kumar Padhy, Pankaj Motwani and other officials of CREDAI’s state and city chapters were present.