CREDAI meets finance minister to discuss Covid disruptions

21 Apr 2021 Editorial Team

Many senior members of CREDAI, including its new president, attended the meeting in Kolkata.

The real estate sector faced severe difficulties last year with the flattening demand, a challenging funding environment, and increasing compliance-based costs. The onset of the pandemic exposed the fragile financial health and business models of real estate developers in India. The financial health of developers in the preceding 12 months can be seen in two parts – the lockdown phase and the unlocking phase.

Addressing a virtual press conference on April 7, CREDAI President Harsh Vardhan Patodia had expressed concerns over the second major wave of the Covid-19 pandemic and said it would take time to assess the impact.

Patodia, Managing Director of Kolkata-based Unimark group, who took charge as CREDAI president from April 1, had said that the CREDAI would again urge the state governments to reduce stamp duty on registration of properties to boost the real estate sector. As we have reported earlier, the Maharashtra government recently scrapped the 2% stamp duty waiver and decided to reinstate 5% stamp duty on property registrations.

The association had sought infrastructure status for the realty sector, GST input tax credit for both housing and commercial segments, faster environment clearance and easier credit availability.

Established in 1999, the Confederation of Real Estate Developers' Associations of India (CREDAI) is the apex body for private real estate developers in India, representing over 13,000 developers through 21 states and 217 city chapters across the country.

Image Source

Also read: Lockdown impact: CREDAI Pune writes to Maha govt

Also read: Why housing went through the roof during Covid: Care Ratings

The Confederation of Real Estate Developers' Associations of India (CREDAI) met Finance Minister Nirmala Sitharaman on April 20 and sought the government's support to deal with the disruptions caused by the Covid-19 pandemic and the impact on the real estate sector. Many senior members of CREDAI, including its new president, attended the meeting in Kolkata. The real estate sector faced severe difficulties last year with the flattening demand, a challenging funding environment, and increasing compliance-based costs. The onset of the pandemic exposed the fragile financial health and business models of real estate developers in India. The financial health of developers in the preceding 12 months can be seen in two parts – the lockdown phase and the unlocking phase. Addressing a virtual press conference on April 7, CREDAI President Harsh Vardhan Patodia had expressed concerns over the second major wave of the Covid-19 pandemic and said it would take time to assess the impact. Patodia, Managing Director of Kolkata-based Unimark group, who took charge as CREDAI president from April 1, had said that the CREDAI would again urge the state governments to reduce stamp duty on registration of properties to boost the real estate sector. As we have reported earlier, the Maharashtra government recently scrapped the 2% stamp duty waiver and decided to reinstate 5% stamp duty on property registrations. The association had sought infrastructure status for the realty sector, GST input tax credit for both housing and commercial segments, faster environment clearance and easier credit availability. Established in 1999, the Confederation of Real Estate Developers' Associations of India (CREDAI) is the apex body for private real estate developers in India, representing over 13,000 developers through 21 states and 217 city chapters across the country. Image Source Also read: Lockdown impact: CREDAI Pune writes to Maha govt Also read: Why housing went through the roof during Covid: Care Ratings

Real Estate

03 Apr 2026

Loomcraft Enters South India with Kerala Store Launch

Loomcraft has launched its exclusive store in Kerala, marking its entry into South India and a key step in its nationwide expansion strategy. The move targets a region driven by tourism and premium real estate demand, where outdoor spaces play a central role in hospitality and residential experiences.Kerala’s growing base of luxury resorts, boutique hotels, villas and gated communities has created strong demand for specialised outdoor furniture. However, the region has remained underserved, with buyers relying on imports or generic products not suited to humid, coastal and monsoon-heavy cond..

Building Material

03 Apr 2026

Mild Steel Prices Seen Rising to Rs 61,000 Per Tonne

Mild steel prices in India, currently around Rs 58,000 per tonne, are expected to rise to nearly Rs 61,000 per tonne in April, indicating an increase of about Rs 3,000 per tonne. The anticipated rise reflects structural pressures driven by geopolitical tensions, energy constraints and limited raw material availability.Ongoing global conflict has disrupted energy markets, leading to LNG shortages that are affecting domestic steel production. Small and mid-sized manufacturers, particularly those dependent on gas-based processes, are witnessing production cuts due to constrained energy supply, re..

Infrastructure Urban

01 Mar 2026

Vedanta Expands Transgender Workforce to 75 Employees

Vedanta has strengthened its commitment to workplace inclusion by employing 75 transgender individuals across its businesses, including Vedanta Aluminium, Hindustan Zinc, Sesa Goa, FACOR and Cairn Oil & Gas. The initiative reflects sustained hiring efforts since 2022 to build equitable opportunities across operations, corporate and technical roles.Transgender employees are engaged in functions such as operations, finance, logistics, HR, CSR, healthcare and security, with provisions for internal mobility to support career progression. The company has implemented structured policies, includi..