In a rare show of unity, India's leading real estate associations have come together with a powerful message to the government: the time for Ease of Doing Business 2.0 is now. The Confederation of Real Estate Developers' Associations of India (CREDAI), National Real Estate Development Council (NAREDCO), and National Association of Realtors (NAR-India) have presented a consolidated vision to unleash the sector's massive potential.
The Collective Call for Reform
These industry giants, representing developers, promoters, and real estate professionals nationwide, have identified key areas requiring immediate government attention. Their unified stance marks a significant moment in Indian real estate history, demonstrating the sector's readiness to collaborate with policymakers for transformative change.
Key Demands for EoDB 2.0
The industry's wishlist focuses on practical, implementable reforms that could revolutionize how real estate operates in India:
- Streamlined Approval Processes: Reducing the current 50-100 approvals needed for projects to a more manageable number
- Single-Window Clearance: Implementing a truly effective unified approval system
- Policy Stability: Ensuring consistent regulations across states and over time
- Infrastructure Synchronization: Better coordination between real estate development and public infrastructure projects
Beyond Real Estate: Economic Implications
The real estate sector's transformation isn't just about buildings and properties. As the second-largest employment generator in India, contributing approximately 7-8% to the GDP, its growth has far-reaching implications for the entire economy. The proposed reforms could catalyze job creation, boost allied industries, and accelerate India's journey toward becoming a $5 trillion economy.
The Path Forward
Industry leaders emphasize that EoDB 2.0 isn't just about making life easier for developers. It's about delivering better, more affordable housing to citizens faster. It's about creating sustainable urban ecosystems. And most importantly, it's about building the India of tomorrow, today.
The unified voice from these powerful industry bodies sends a clear signal: the real estate sector is ready for its next chapter of growth, provided the regulatory environment evolves to support it.
