News: Real Estate Must Be Recognised as Key Contributor: CREDAI-03-10-2026
The government should formally recognise real estate as a key contributor to India’s growth and employment, CREDAI president-elect G Ram Reddy told Hindustan Times during the three-day CREDAI-NATCON 2026 in Kolkata.
Reddy said the sector’s role goes well beyond housing and construction because of its links with allied industries and its large workforce. A CREDAI report released at the convention projects the Indian real estate market to grow from around $600 billion in 2025 to $1 trillion by 2030. An industry of this size needs greater recognition and policy support, he said, adding that the whole sector should not be blamed for problems involving individual developers.
On delayed homes, he said developers are held responsible even when approvals, occupation certificates, or water and power connections do not arrive on time.
He also flagged a shortage of skilled manpower. Construction remains heavily dependent on labour and has not mechanised enough, he said. India does not lack workers so much as skilled, certified ones, and workers deserve more recognition and dignity. They are not paid well, he said, and government support for skilling is missing. Certification could help them get better jobs and wages, and customers are willing to pay more for skilled labour. CREDAI is working with the National Skill Development Corporation and others, but much more is needed.
NATCON 2026, held from October 2 to 4, has brought together developers, investors, policymakers and experts, with sessions on technology, AI and investment. Reddy said the industry should reach a point where a developer can say "I am a developer" with pride.
