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CREDAI Exhibition on Real Estate Industry

‘Property 2004,’ a recent real estate developers and housing finance institutions’ exhibition for Delhi and the National Capital Region (NCR), organised by CREDAI (Confederation of Real Estate Developers’ Associations of India), provided an opportunity for pan-India developers to project their prowess to prospective customers. The event witnessed the participation of major players in the field of housing finance and real estate development. These included ICICI, HDFC, and HSBC banks; LIC Housing Finance and Birla Home Finance; Citibank, Punjab National Bank, Union Bank of India, and Standard Chartered Bank; and DHFL and ABN Amro. These institutions were offering a plethora of customised mortgage and finance products to suit the needs of various projects and income groups.

The construction firms also showcased their vast array of housing projects - providing customers with statistics and information on resources necessary to plan and purchase properties.

Summit To Boost Construction Industry

A two-day construction summit was recently organised by the Confederation of Indian Industry (CII), in association with DIPP, the Ministry of Commerce and Industry, the National Council for Cement and Building Materials, and the Construction Federation of India (CFI).

Minister of State for Commerce and Industry, E.V.K.S Elangovan, in his inaugural address, stressed the need to upgrade technology in the manufacturing of construction materials and in other construction activities. Further improvements in the construction sector require private sector participation, foreign direct investment (FDI), the setting up of independent regulatory authorities, legal reforms, higher budgetary allocations to infrastructure, tax holidays, and a liberal equipment regime, he said. Elangovan added that the government was providing substantial fiscal stimuli to construction by way of programmes like the National Highway Development Program, PMGSY, power projects, mass transport networks, etc. Speaking on India-Malaysia bi-lateral ties, Minister of Works of Malaysia, Dato Samy Vellu, commended the improvement in trade ties between the two countries in recent years. Professor Fred Moavenzadeh, director of technical and development programmes at the MIT University in USA; Ajit Gulabchand, president and chairman of CFI; and A. Ramakrishna, president and deputy managing director of L&T LTD, also attended the summit.

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