Union Home Minister and Minister of Cooperation, Shri Amit Shah today addressed CREDAI’s national conference “Viksit Bharat @ 2047” in New Delhi. On this occasion, several dignitaries, including Union Minister Shri Bhupender Yadav, were present.

In his address, Union Home Minister and Minister of Cooperation Shri Amit Shah said that Prime Minister Shri Narendra Modi has set before us the goal of building India as the world’s leading nation in every sector by 2047 and taking a major leap by reaching the benchmark of a 5 trillion economy. He said that over the past 11 years, the Modi government has done extensive work on next-generation infrastructure and these efforts have yielded very positive results. He said that the government introduced the concept of the National Infrastructure Pipeline, and through several new initiatives, not only structured urban development and infrastructure but also worked on creating a roadmap to bring India closer to nations having the world’s best infrastructure. Shri Shah said that during the 11 years of the Modi government, numerous initiatives have been undertaken in infrastructure development and urban development, along with efforts to remove obstacles across all sectors.

Shri Amit Shah said that CREDAI has planted 20 lakh saplings and worked to rejuvenate 9,000 acres of barren land across 25 villages. He said that every developer should keep some green area in mind while designing projects. He added that if every developer in the country makes an effort to plant 10 trees during the construction of each building they create, it would be a very commendable initiative.

Union Home Minister said that from 1999 till date, CREDAI has consistently achieved its objective of promoting housing and habitat development. He said that CREDAI has always given the highest priority to a code of conduct and ethical practices, and it is because of CREDAI that the work of developers today gets due credit. He added that it is not enough for our balance sheets to be strong; it is equally important that our work receives good reputation in the society. Shri Shah said that as the apex body of India’s private real estate developers, CREDAI has played a major role in structuring the sector and establishing it as a recognized and accepted industry.

Shri Amit Shah said that today CREDAI is present in 230 cities across 21 states and stands as a vast banyan tree representing nearly 13,000 developers. He said that with completion of 25 years, CREDAI has also proven its relevance and necessity in this sector. He added that in many areas, CREDAI has showcased its humane face and has provided training to more than 3 lakh workers. Shri Shah said that we should focus more on identifying the specific areas in which workers need skill development.

Union Home Minister and Minister of Cooperation said that urbanization in India will rise to about 40 per cent by 2035, and by 2047, 50 per cent of the country’s population will be living in cities. He said that when nearly half of the population resides in urban areas, the responsibility for providing housing largely rests with developers. He emphasized that it is very important to prepare ourselves for this responsibility. Shri Shah said that to deal with increasing urbanization, both urban infrastructure and urban housing, will expand. He said that to achieve saturation ratio in urban housing, CREDAI should form a team and deliberate on promoting affordable, eco-friendly housing with a better standard of living. He said that single-window clearances, time-bound approvals, online tracking, and digitized records have built trust in the sector’s architecture, and these reforms will be taken forward at an even faster pace.

Union Home Minister said that RERA was a structural breakthrough in reforming this sector, which is now recognized worldwide. He said that RERA has done commendable work in India towards protecting the interests of homebuyers, ensuring fair transactions, and guaranteeing quality construction, and that it has been adopted by 35 states and Union Territories. He added that appellate authorities have been constituted in 29 states, and 29 RERA authorities have also launched their websites. He said that 1.55 lakh real estate projects are registered under RERA, and nearly 1.10 lakh developers have also been registered under its framework.

Shri Amit Shah said that if any sector has benefited the most from GST, it is the real estate sector. He stated that GST on affordable housing has been reduced from 8 per cent to 1 per cent, on housing projects from 12 per cent to 5 per cent, on cement from 28 percent to 18 per cent, and on marble, granite, sand, lime, and bricks from 12 per cent to 5 per cent. GST on bamboo flooring has also been reduced from 12 per cent to 5 per cent. He said that overall, these new reforms have created the possibility of a 5 to 7 per cent reduction in the cost of constructing a building. He added that to promote the development of this sector, the government has permitted 100 per cent FDI in construction projects through the automatic route and also released a ₹60,000 crore National Urban Housing Fund. Shri Shah said that the government understands the importance of this sector, and that through CREDAI, Prime Minister Modi’s promise of providing every person with a home can be fulfilled. He urged big developers to consider whether, while planning large projects, they could simultaneously begin developing low-cost housing. He said that if this is adopted as a core need of the sector, a transformative change will be seen in the coming days.

Union Home Minister and Minister of Cooperation said that the Modi government has undertaken several reforms in this sector, including the National Building Code, 2016. He said that to achieve the net-zero target, CREDAI must move forward with a strong sense of responsibility. He added that green building norms, energy-efficient designs, water recycling, rainwater harvesting systems, and scientific waste management should be made the new normal in housing. He emphasized that design is not limited to structure alone; rather, all these elements should be incorporated into designs to ensure a better quality of life for residents.

Shri Amit Shah said that in the coming days, the land market must be made more transparent, and cities will have to move away from land banking and speculative holding. Shri Shah said that the government has undertaken numerous initiatives for urban development—from expanding metro networks and flyovers to building roads and promoting eco-friendly power generation—all of which are essential to making cities more livable. He added that under the leadership of Prime Minister Shri Narendra Modi, the Government of India is moving forward with a very ambitious vision for urban development, and a responsible developer constitutes a significant part of this vision.

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