On May 15, Smriti Irani, Minister for Women and Child Development and Minority Affairs, emphasized the importance of promoting first-generation female real estate developers and urged the Confederation of Real Estate Developers' Associations of India (CREDAI) to actively support this initiative.
While addressing the attendees at the CREDAI Women and Youth Leadership Summit, Minister Smriti Irani directed her question to Boman Irani, President of CREDAI, concerning the presence of female developers within CREDAI and outside the organization. She sought insights into CREDAI's initiatives aimed at facilitating the entry of more first-generation women business leaders into the real estate industry. Irani further challenged Irani to consider the aspiration of achieving a notable milestone of nurturing 100 new female developers during his tenure, defining it as a significant measure of success for his leadership.
Additionally, Smriti Irani emphasized the importance of builders prioritizing affordability in real estate projects while maintaining high standards of construction quality.
During the event, CREDAI announced the formation of new teams for its youth wing and women's wing. For the period of 2023-2025, the CREDAI Women's Wing will be led by Rupa Shah as Convenor, Sarah Jacob as Secretary, and Sapna Rathi as Joint Secretary. Nithish Reddy will serve as the Convenor for the CREDAI Youth Wing, alongside Binitha Dalal as Co-convenor and Nilesh Vora as Secretary. Gaurav Thakkar as Chairman for CREDAI's Youth and Women's Wings"
Smriti Irani revealed that the Confederation of Real Estate Developers' Associations of India (CREDAI) is collaborating with Venture Catalysts, a leading early-stage investor in India, and NeoVon to establish a Rs 900-crore proptech fund. The purpose of this fund is to incubate and invest in approximately 100 real estate sector-related start-ups.
Expressing optimism about the real estate industry in India, he stated, "Considering the current state of the sector, we have full confidence that we will witness the emergence of at least 10 unicorns in the coming years."
During his address, he unveiled the organization's growth vision, represented by the acronym G.R.O.W.T.H. Within this framework, he highlighted the significant role of the Women's Wing in driving initiatives to ensure that a minimum of 20 percent of the construction sector's labor force Ensuring Construction Workers' Registration with State BoCW Boards in India within Two Years"
Furthermore, he stressed the importance of green construction as part of the organization's G.R.O.W.T.H. vision for the real estate sector. Recognizing the significant environmental impact of the construction industry, which contributes to 30 percent of global pollution across infrastructure and real estate development, he emphasized the need for greater sustainability in development practices. As a result, the organization has made a commitment to achieving carbon neutrality in the real estate sector by the year 2050.
According to a statement by CREDAI, the women's wing will play a crucial role in supporting 10,000 students from families of construction workers in pursuing studies related to engineering, architecture, and other related fields, thereby enabling them to enter the real estate sector. Additionally, the women's wing will focus on enhancing facilities at construction sites for the children of laborers, including provisions for basic education, crèche facilities, and regular health check-ups.
In alignment with the government's Start-up India and Make in India initiatives, both CREDAI and the CREDAI Youth Wing will collaborate to organize business trade fairs and study tours in various countries, aiming to support and promote entrepreneurship and manufacturing opportunities.
© 2023 Rera News. All rights reserved.