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Confederation of Real Estate Developers' Associations.
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Showing posts with label
Confederation of Real Estate Developers' Associations.
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CREDAI Conclave 2013 at JW Marriott, Aerocity, New Delhi at JW Marriott, Aerocity, New Delhi
CREDAI Conclave Agenda
The Conclave intends to deliberate and provoke thoughts and ideas on the theme “Housing – The Game Changer”
The broad Agenda shall cover the following:
- Inaugural Session -Address by dignitaries from Govt. of India and CREDAI National
- Key Note Address – “Unshackling Growth” – Address by eminent corporate personalities and senior policy makers
- Building the blocks – The impact of real estate sector in Indian economy
- Vision and values of progressive India – Policy reforms and governance
- Marketing India to global investors – Perspectives by international investors, developers and thought leaders
- Case study on impact of real estate on GDP of a major emerging market economy
- Young India’s vision for an urbanized India.
- Bridging the great urbanization divide – Concerns of tier II and tier III Indian cities.
Speakers include Chetan Bhagat, Montek Singh Ahluwalia.
More details on CREDAI Conclave
More on Indian Real Estate News & Updates
Credai against Reserve Bank's decision to link home loans to construction stages
Criticising the Reserve Bank's decision to link disbursal of home loans to stages of construction, real estate apex body Credai said the move will harm developer sentiment and disturb business plans.
RBI asked banks to link the disbursal of home loans to stages of construction to protect the interests of buyers and contain the fallout of "innovative" housing financing schemes.
It has directed banks that upfront disbursal "should not be made in cases of incomplete/under-construction/ green field housing projects".
Confederation of Real Estate Developers' Associations chairman Lalit Kumar Jain said: "Housing finance institutions or banks normally safeguard their interest while devising such instruments. Abruptly issuing such circulars, advising bank against established practices only harm the sentiment and disrupts business plans. This will create setback for projects, affecting the end consumers."
The notification follows the introduction by some banks of "innovative housing loan schemes" in association with developers or builders, where upfront disbursal of housing loans is made to builders without being linked to the various stages of construction.
Also, under such schemes, the interest/EMI on the housing loan availed of by the individual borrower is serviced by the builder during the construction period. These loan products, the RBI said, are popularly known by names such as 80:20 and 75:25 schemes.
RBI said such home loan products are likely to expose banks and their borrowers to additional risks.
"RBI should have consulted stakeholders before issuing such circulars on disbanding current practices. In the past, the RBI circulars have resulted in reversal of good market sentiments affecting economy and concerning housing sector," he added.
