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VISAKHA VISION 2019 8 Issue-2/ Jun-Jul, Vol-

Looking back at pg 72 years of Independence 10 pg 28 19th Natcon 2019

Authorised Distributor: Sri Vijay Trading Co. Address: #33-14-310/C, Allipuram Main Road, Visakhapatnam, Ph:0891-2568291,Mobile:9100023691-6,Email:[email protected] Editorial

Dear Readers, Greetings & Good wishes

Dear Readers, Our Nat con is providing many opportunities, guidance and exposure .It is our duty to grab such Greetings & Good wishes chances directly or thro’ knowledge of sharing We are entering a new era of our construction An important area which requires specific attention industry with generous support from state and is towards safety while construction ans post central governments, in the form of booster doses construction. Every project should be provided all from finance ministry and introduction of new sand facilities for future maintenance of services and policy by state government. There may be some proper transitional support to building societies. teething problem, but we have to move in positive direction. Let us live in healthy and peaceful environment

Entire country is under stress due to unsold inventory which makes the industry limping. There is slow down of economy world over, Visakhapatnam always stands as an exception in present and past. The reason for this is a known factor. All he stakeholders K.S. Chandran move with full responsibility, vision and transparency. Bulletin Editor

CREDAI VISAKHAPATNAM (Regd. No. 231of2010) EDITORIAL BOARD K.S. Chandran, LAYOUT, DESIGN & PRINTED AT Sathyam Offset Imprints, Brindavan, #49-28-5, Madhuranagar, Visakhapatnam. Mob : 984 999 6538. published by credai visakhapatnam, #9-6-43, Flat No. 2, Ground Floor, MVV Bhavan, Sivaji Palem, Visakhapatnam-530017. Ph.: 0891-2739612, Mob : 98488 54448, 99120 54448 E-mail : [email protected], [email protected]. Website : www.credaivisakhapatnam.org

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5 | CREDAI VISAKHA VISION | 2019 Never overlook the power of simplicity, which is the ultimate sophistication us have a positive look at these laws, meant to reform the system, and follow President’s the provisions meticulously. Let me recall that, many of the message provisions in the RERA, aimed at protecting customers’ interests, are part of our association’s Code of Conduct, and we have been implementing those provisions voluntarily since long. The only difference is that they have now become mandatory

When new laws are enacted, teething problems are bound to arise. As times pass, everything would be in place. On our part, let us follow all provision of laws and do our business honestly, profits and prosperity would follow.

To keep you abreast of latest developments in various fields connected with our sector, the Dear member, Now I come to the core issues of our association had been organizing

Warm greetings, community. awareness programs and lectures by subject experts like CAs, officials I start my message…….. Change is the law of nature. In its course, there would be new of National Academy of Customs, Invoking the blessings of Lord Ganesha opportunities to grab and new Indirect Taxes& Narcotics (NACIN) at to all of you, on the occasion Vinayaka association’s regular meetings. Chaturdhi . problems to face. Realty sector had also been completely transformed, I am happy to inform you that the As you must be aware, there has throwing up new opportunities and association had relentlessly been been talk of economic slowdown in new problems. The government had the country, impacting all sectors of following these issues with all concerned economy, and as the second largest enacted certain laws to meet the including the ministers concerned. employer of labor, realty sector is no changed situation. The most important In this regard, Hon’ble, MP, Sri MVV exception to it. law that is enacted to deal with realty Satyanarayana, a dynamic person from

But the happy news is that, as far as sector is RERA, followed by GST, aimed our own fraternity, has been of great builders in these parts are concerned, at completely changing and reforming help. He has been taking personal the negative impact of economic taxation structure. Apprehensions have interest in solving our problems. He had slowdown is minimal. initially been expressed about these also brought the burning problem of laws and their possible impact. But let sand to the notice of the Chief Minister

6 | CREDAI VISAKHA VISION | 2019 You don’t have to be great to start, but you have to start to be great. of houseswould be on displayand construction required for products where event of ourassociation, It isthemostimportant approaching. December 20 Property Expo2019 association’s Youthe datesof that are aware it apointtoattendNATCON infuture. member of CREDAI-VSP should make I stronglyrecommendthatevery enjoyable. places thatfollowed,hadbeenquite tour toJordanandotherimportant time. Ifthisiseducative,the add-on for along the memory ofparticipants unique experience that getsetched in has beena during technicalsessions, to deliverlecturesonimportantsubjects attended who had persons, prominent National, with VVIPsshoulders rubbing and other of CREDAI bearers office including Interacting withtoprealtors, It wasbotheducative and enjoyable. Excellence” theme ofNATCON19“Resilience to is attended.The had 25 members also, the country.in From CREDAI-VSP top realtors attended bynearly1200 of CREDAIgathering is National capital ofIsrael.Thisimportantannual Nation’s NATCON19 tourto Tel Aviv, with therecentlyorganisedCREDAI Now, Iwishtosharemyexperiences our issuesmentionedabove. all concerning you verypositiveresults, than later, I would beabletoinform and Iamgladtoinformyouthatsooner You don’t have to be great but you have to to begreat. start, to start th 21 st and 22 and nd arefast President, B. SrinivasaRao, Warm Regards, ambience. domestic harmonious happy and and environment free, hassle-freebusiness on youandensureahurdle- blessing Lord Vinayaka,toshowerhischoicest Before Iclose,onceagaininvoke gets going! the goinggets tough, thetough But, remember the adage thatwhen I realizethetaskistough. is amemorableone. ensure thatthePropertyShowthisyear and efforts put inyourbest pro-active, aspect andIstronglyappealall,tobe role toplayinthis CYW haveacrucial Members of make itagrandsuccess. So letusworkrightfromnowand is theultimatetargetofanybuilder. which especially potentialcustomers, people, in ourbesteffortsandimpress all ofustoput It isanopportunityfor may selecttheirdreamhomesorsites. and visit will customers potential which enhanced. Itwouldalsobetheeventto could beprojectedand association the of image the brand which through

Office Bearers [email protected] 9866591919 J. Kumar Nandan Youth Wing Co-ordinator: [email protected] 9440115466 Kumar Ravi N. [email protected] 9441944442 P. Subhash [email protected] 9866668840 Srinivas K. [email protected] 9390030633 N. Vamsi Mohan [email protected] 9848194986 Sharief Azizulla [email protected] 9393101811 V. Murali Krishna Members:Committee [email protected] 9848521789 Raju Govinda Ch. Treasurer: [email protected] 9866010679 Sreenu V. [email protected] 9963322000 Shivanand A. [email protected] 9550633399 K.V.R. Raju (Ramesh) Joint-Secretaries: [email protected] 9866887878 V. Dharmendra Hon. Secretary: [email protected] 8897495679 N. Srinivasa Rao [email protected] 9133188807 Kumar Ashok E. [email protected] 9676849999 Srinivas Chilukuri Vice-Presidents: [email protected] 9553356666 B. Rao Srinivasa President [email protected] 9848037477 Rao RamaK. Krishna Chairman 7 |CREDAI VISAKHA VISION |2019 CREDAI National President Sri Satish Magar’s Vision for India’s realty sector and his task list.

specialized skill training. After a comprehensive Immediate Task: analysis, a road map has been chalked which The first task is to create an organizational structure includes training workshops which will facilitate smooth functioning of CREDAI. for construction laborers and For this, we will create five different zones. Each on-job training. We aim to train zone will have a zonal secretary. I have proposed to at least one lakh construction form a council for the past presidents of CREDAI, so laborers in the next two years. that, their knowledge and experience can be utilized The team will collaborate with more effectively for the benefit of the sector. bodies like RERA, Building and Plans for increasing CREDAI’s presence in the Other Construction Workers country. (BOCW) and welfare boards for exploring further opportunities CREDAI is present in at least 200 cities in 23 states. and growth areas. The customized During my tenure we will aim to add 100 more cities industry partnered skilling programs to this list, where in the focus of attention will be will be launched to create a pool of more on tier 2 and tier 3 cities. Initially, we will look at skilled laborer’s for the real estate increasing our foot print in the southern parts India. sector. Environmental sustainability Priority for the Realty Sector. is also among the key areas of work for CREDAI. Being en environmentally The two key areas that are on top of my priority list conscious organization we wish to plant include—building a stronger ecosystem and impart five lakh trees across India in the next two years. 8 | CREDAI VISAKHA VISION | 2019 It is not the “length” but the “strength” that matters. 9 | CREDAI VISAKHA VISION | 2019 The world is changed by your example, not by your opinion. As India embarks on another year of independence, the country’s real estate sector has a lot to be grateful for, a lot to Looking hope for – and still a lot to worry about. back at

years

7of Independence2 Amid the dual challenges of liquidity crisis and stuck laws are being unfettered with an upgrade in the projects that hang like persistent thunderclouds Draft Model Tenancy Act, 2019. Finally, the over the sector, we nevertheless inch closer to the trust deficit between tenants and landlords can be ultimate goal of Housing for All by 2022. bridged and both parties’ rights and obligations are being clearly defined. From the viewpoint of stuck and delayed projects, the freedom to buy homes has turned into shackles The most recent Consumer Protection Bill, 2019 for many. Over 1.74 lakh homes in 220 projects promises to unleash a brand-new level of freedom across the top seven cities are completely to consumers – the freedom from misleading stalled. Housing worth over Rs 1.77 lakh crore promotions. RERA had already clearly defined the is in limbo with zero construction activity. acceptable from the unacceptable when it comes to real estate promotions, and this bill adds further The affected buyers exercised their freedom of muscle to consumer rights. choice – only to see their hard-earned money imprisoned with scarce prospects of parole until The era of misleading and/or inaccurate promotion recently. of housing projects – including by celebrities – without fear of legal backlash is finally coming to an Nevertheless, this state of affairs is not unilateral and end. countless more Indians have indeed successfully achieved freedom from rent. Though not nearly as And, finally, buying real estate in Jammu & fast as can be hoped for, housing sales are picking Kashmir is actually something people from outside up. In sharp contrast to earlier years, the government this long-disputed region will be at liberty to consider has now given affordable housing a distinct identity – once the dust of change settles. and several valuable incentives. However, for all the silver lining, the thunderclouds 2019 also saw rental housing being given its that overshadow the real estate sector on India’s first tangible push. After decades of languishing 72nd Independence Day cannot be dispelled by in the dungeons of obsolescence, India’s rental mere positive thinking. Real solutions are called for.

10 | CREDAI VISAKHA VISION | 2019 Your smile is your logo and your personality your business card. A way out of the liquidity crisis? citizens of a free country have the right to expect the law of the land to intervene on their behalf. The NBFC crisis in late 2018 hit the already-ailing realty sector hard and brought whatever optimism The Supreme Court verdict on the Amrapali and growth the residential segment was beginning Group case, cancelling the RERA registration of to see to a screeching halt once more. the group, was such an intervention. Appointing the National Buildings Construction Corporation With minimal customer advances, the construction (NBCC) to complete the group’s stalled projects, of several projects got stalled. Despite developers the Supreme Court revived the hopes of thousands having all necessary approvals as well as the will to of homebuyers. complete them, lack of funds held the entire situation hostage. End of the line? Not quite. It is certainly not a ‘template law’ which can be slapped on all and every defaulting developer, and The government is taking a series of steps to bail every case of stuck or delayed projects will need to out the NBFCs. Union Budget 2019 made several be judged by its unique circumstances. However, announcements in support of financially sound this landmark judgement sets a precedent for NBFCs, few as they may be, in these turbulent times: developers to complete delayed projects and also To purchase high-rated pooled assets of financially cough up compensation for delays. sound NBFCs, amounting to a total of Rs 1 lakh crore A house over every Indian’s head – how during the current financial year, the government will close are we? provide one time six months’ partial credit guarantee to Public Sector Banks for first loss of up to 10 per In previous years, strong political will was often cent. highlighted as the most necessary catalyst for change in a country like India. It has arrived – • To allow NBFCs to raise funds in public issues, Modi 2.0 has displayed a single-minded focus on the government has done away with the many fronts, and not least of all in its promotion of requirement of creating a Debt Redemption affordable housing. There is little reason to second- Reserve (DRR), which is currently applicable guess this government’s will to see its goals to for only public issues (private placements are fruition. exempt). Nevertheless, developers face several roadblocks • The Finance Ministry announced that the to adopting the affordable housing mantra National Housing Bank (NHB) will infuse an wholeheartedly. Where will the necessary land additional Rs 10,000 crore in NBFCs to improve in central urban areas come from? When will the funds inflow. basic infrastructure necessary to make the cheaper • In its monetary policy, the RBI has gone the extra peripheral areas viable for affordable housing be mile to revive confidence in well-functioning built? NBFC entities. The single-borrower exposure These are real challenges. Not surprisingly, of the limit for bank lending to NBFCs has been total housing supply of 139,490 units in the top seven increased to 20 per cent of the lender’s capital cities in H1 2019, merely 39,840 units qualify for the (as compared to 15 per cent earlier). The RBI government’s incentives for affordable housing. will also recognise bank lending to registered NBFCs for select purposes as priority sector Pradhan Mantri Awas Yojana (PMAY) has set hard lending. targets for the next two years. As per government’s estimates, a total of 1.54 crore rural homes have been The law awakens to homebuyers’ plight completed in the last five years. In the second phase Freedom without judiciary support is meaningless – of PMAY-G, during 2019-20 to 2021-22, 1.95 crore

11 | CREDAI VISAKHA VISION | 2019 No beauty shines brighter than that of a good heart. houses are to be provided to eligible beneficiaries. the order of the day. The Model Tenancy Act aims to salvage this situation by establishing a Rent With a fresh batch of over one lakh houses being Court and Rent Tribunal to hear appeals for matters sanctioned under the scheme, the cumulative connected to rental housing. number of houses sanctioned under PMAY-Urban has crossed 85 lakh. Ultimately, the increased attractiveness of rental housing will boost its stock and help students and A series of policy reforms and schemes have pushed white and blue-collar workers find homes in cities both supply and demand for affordable housing. where they cannot afford to buy them. It will also With a total of 1.54 crore rural homes completed bring investors – key players when it comes to rental in the last few years, we may be a lot closer to the housing – back to the market. Government’s target than it seems. However, it remains to be seen how effective this key If RERA is implemented nationwide and the liquidity Act is on the ground. With land remaining a state crisis is resolved, a lot more housing inventory will subject, it is up to individual states to adopt the hit the market. However, the on-ground realisation Central rules without too much dilution. of the government’s Housing for All by 2022 vision actually hinges only on three main factors: The RERA effect

• The release of government-held land in It was not the magic wand it was hoped to be. urban areas (recognition and delineation of However, over the past two years, the Real Estate non-essential land currently held by government Regulatory Act (RERA) has brought more sanity – bodies such as Department of Heavy Industries, and the return of consumer power – than seemed Indian Railways, Ministry of Public Enterprises possible in such a short time. The real estate sector and Port Trusts. The unlocking of such lands for is still struggling with it and the Act is very much work- affordable housing will also bring down prices) in-progress in many states, but RERA nevertheless hangs like a sword of Damocles over a previously • The rapid development of support unregulated industry. Eventual compliance across infrastructure (roads, water and electricity, the board seems inevitable. sanitation and sewerage) in peripheral areas connecting them to cities’ main workplace According to the latest readings on the Ministry of centres, and Housing and Urban Affairs (MoUHA) website:

• Streamlining the housing projects approval 43,208 real estate projects and 34,182 real process (single-window clearance, relooking estate agents have registered under RERA across at development control, amending Land the country. Acquisition Rehabilitation Act, 2013.) The incumbent government has envisioned India’s The Model Tenancy Act, 2019 – taking rental real estate sector as attaining international standards housing out of the ICU of transparency and accountability. With political will not being a matter of debate anymore, the question When it comes to making Housing for All by 2022 is not ‘if’ but rather ‘by when’ real estate buyers and a reality, rental housing can go a considerable way developers can expect to deal with the other with in bridging a deficit that homeownership cannot. complete confidence, anywhere in a country where The Model Tenancy Act 2019 is a major step in that no corner of the market is left unregulated. direction. The Consumer Protection Bill, 2019 to end Even after over seven decades of independence, misleading promotions India’s rental housing market was stuck in a legislative rut that made tenant-landlord conflicts This critical piece of legislature can strengthen the

12 | CREDAI VISAKHA VISION | 2019 It is very simple to be happy, but it is very difficult to be simple rights of homebuyers considerably. Among various it stabilises, it will need the benefits of RERA-level favourable provisions, the bill – when it becomes law regulation. – will enable harassed homebuyers to file complaints Since Jammu & Kashmir will now, for all practical with the District Consumer Commission or State and legal purposes, be viewed like any other state/ Consumer Commission from anywhere. Earlier, UT in India, all rules and regulations of the Central complaints were very much jurisdiction-bound and government will apply there as well. As for RERA could only be filed at the place of purchase or where regulations, the region will have to formulate its own sellers have registered offices. policies, which may not be similar to other hill states Under the Bill, celebrities endorsing misleading that have their own respective laws. real estate advertisements and promotions are RERA will make a difference here only when real also liable for legal action, as well. In a free country, estate activity picks up and people come forward consumers must be considered intelligent enough to deal in property. Like in all other states, here too to know that celebrity endorsements have absolutely RERA must give an equal footing to both buyers and no bearing on a product’s inherent worth. They are builders and prevent unregulated real estate activity. only indicative of how much money was spent on costly endorsements If rules are in place from the very beginning, there will be little scope for manipulations later on. Moreover, Such funds are far better spent on improving projects, transparent transactions will help build confidence of building the faster, and on intelligent marketing investors and buyers. Meanwhile, Ladakh – a major aimed at intelligent consumers. Developed nations tourist hotspot which attracts scores of tourists all already have strong laws protecting consumers year round – will very likely see an uptick in hospitality from fraudulent advertising. It is high time that Indian sector activity over the coming months. consumers are given the same benefit.

Is Kashmir’s real estate market opening up? Endnote Despite the challenges that remain, the Indian real The government’s recent decision to revoke Article estate sector – and the consumers that patronise it – 370 and Article 35(A) is expected to have a positive have much to be upbeat about on our 72nd year of impact on Jammu & Kashmir’s overall real estate independence. For all that remains to be achieved, market, which has been quite dismal so far. Property we repose our faith in a strong and determined prices in Srinagar, for instance, still hover between government that has proved beyond all doubt that Rs 2,200-4,000 per sq ft – significantly low for Tier-II it means business. and Tier-III cities in the country. We have already crossed several important On the one hand, locals will finally see an increase milestones that seemed unachievable in previous in the value of their properties. On the other, years. There is every reason to believe that we will the really exciting prospect is the opening up of cross the ones that remain. Jai Hind! opportunities for Indians from outside J&K to finally invest in immovable property here. In fact, in his About the Author: recent address to the nation, the Prime Minister categorically invited various industries – including Anuj Puri is Chairman at ANAROCK Property Bollywood – to make investments across the entire Consultants. region. *** That said, it is still too early to gauge the real impact of this move on Kashmir’s real estate market – as of now, it is still a highly sensitive region and security concerns may keep property buyers at bay. Once

13 | CREDAI VISAKHA VISION | 2019 Respect is for those who deserve it not for those who demand it. BANK

CREDAI seeks bank funding for developers to buy land for affordable housing projects

Realtors apex body CREDAI in its budget wish list affordable housing. has demanded that banks should fund developers “Currently, Section 80 IBA of Income Tax Act, GST to buy land for development of affordable housing Act, DEA Notification dated 14.11.2017, Ministry of projects. It has also stated that the definition of Housing and Urban Affairs in respect of CLSS and affordable housing should be same across all the RBI adopt definitions of affordable housing which legislation. vary among themselves,” CREDAI said. “Land as a value of the project cost, comprises 40 It suggested that affordable housing definition drawn percent of the overall project cost. With the advent from CLSS (Credit Linked Subsidy Scheme) should of RERA, one cannot sell until all approvals are be made universally applicable across all agencies received which means that one needs funding either of the government. by way of promoter equity or private equity,” CREDAI said in its budget memorandum. Under the CLSS, affordable housing comprises units with a carpet area not Land funding is typically done by NBFCs or private equities, it said, but added that cost to developers exceeding 60 square metres within the cities of are as high as 25 percent. Chennai, Delhi, Kolkata and Mumbai, and 120 square metres elsewhere. “The support of the banking system is needed to bridge this gap. Funding of land by commercial CREDAI also demanded that income tax rebate banks was permitted by RBI until 2008 and should should be enhanced for payment of principal and be resumed at the earliest for affordable housing,” interest on home loan. CREDAI said. Source: Economic Times, Delhi/NCR The association, which has over 10,000 developers as members, also pitched for uniform definition of

14 | CREDAI VISAKHA VISION | 2019 If we master of thoughts we master lives.

MahaRera Suggests appointing multiple agencies to drive OCs to projects This can be Replicated in AP

• Move to help avoid monopoly of single so as to break the monopoly of the single officer person holding up project’s OC who had power to delay the OC without any • More than 700 projects have got reason due to his lack lustre attitude. delayed OC although developers ap- plied for OC on time. Chatterjee educated about RERA along with Rajive Kumar, Uttar Pradesh RERA Chief; Speaking at CREDAI’s Event ‘YouthCon-19’ held Anthony De Sa, Madhya Pradesh Chief; and In New Delhi on February 13-14, 2019, Gautam KK Khandelval, Haryana RERA Chief; who were Chatterjee, Chairman, MahaRera,opined that present at the event. multiple agencies should be given the task of The MahaRera Chairman gave this opinion on granting Occupancy Certificates to housing the query by Nayan Shah, President, CREDAI- projects in order to break the monopoly of a MCHI, who opined that developers are looking single officer on whom the onus is put at present. for the day when the approval authorities could He informed that there were 700 projects in come under the ambit of RERA. Maharashtra alone where developers had submitted all documents and applied for OC well CREDAI-MCHI is an apex body of developers, in time but all their efforts were stonewalled by a which is recognised by Government of single officer who had the authority to grant the Maharashtra and helps in meeting their OC. Although the approvals had been given by objectives of providing housing, which is sought the same planning authority, Gautam Chatterjee after human necessity/requirement. With a stated that he failed to understand why the strong membership of over 1,800+ leading officer representing the same planning authority developers in Mumbai, CREDAI-MCHI has took so much time for granting the OC to the expanded across MMR, having its own units project which had been built in accordance to in Thane, Kalyan-Dombivli, Mira-Virar, Raigad the Commencement Certificate. He suggested and Navi Mumbai. Members of CREDAI- the mechanism of outsourcing the process of MCHI account for 80 per cent of the organised granting Occupancy Certificates to multiple development of new residential and commercial agencies having a panel of planners and properties in Mumbai and MMR area. architects to check and grant OCs to projects

16 | CREDAI VISAKHA VISION | 2019 Knowledge is not power until it is applied. Online Project Approval: A digital doorway for developers to Submit AFP requests enter a new age of project management online and receive real time update Subsequent Disbursement Management: Send demand letters to customers online facilitating faster processing of disbursement Features of Developer High Rise Campaign Management: Promote your projects to our customer base with location and income segmentation Home Loan Lead referral : Refer Home Loan lead to ICICI Bank Society Portal: Manage post-delivery support along ICICI Bank presents DEVELOPER HIGH RISE, a 360 degree service platform providing end-to-end digital solutions for a range of with value added utility services. An industry-first initiative, this platform is designed to help you manage retail and corporate transactions with never before services for your ease and efficiency. customers

For more details, contact: Mohd Akram Farooqui (Regional Head) Mobile No: 7337558399 | Email: [email protected] It's time to take your project management to the next level. Register on www.developer-highrise.com today. Some key factors to emphasise on the need for skill development are:

• Shortage of human resource: Although the construction sector employs about 33 million people at present, steadfast economic growth and ambitious infrastructure projects coupled with the Government’s vision for the housing segment will require 4 million additional people per year over the next five years.

• Technology and mechanisation: Technology is fast overtaking all Wanted tasks in construction and is expected to further increase in India. With the Skilled Workers! advent of modular structures and prefabricated and precast parts,

The Indian construction sector is the second highest contributor mechanisation has become an to the GDP after agriculture, yet, faces the challenge of a colossal integral part of the industry. With skill gap. The formally skilled workforce in the country is only about this increase in technology and 4 per cent, which is abysmal. Developers need to partner with the mechanisation, the proportion of Government and also proactively initiate training and development unskilled labour is expected to for construction workers to bridge this enormous skill gap. For its reduce (though absolute numbers part, the Government has initiated the India Skills Mission and, in will rise owing to increased projects).

2013, established the Construction Skill Development Council of • Consumer centricity leading to India (CSDC) that works with the industry and training partners. It increase in facilities: Consumers encourages associations and developer members to partake in the are at the heart of residential projects initiative to achieve skilling numbers for the sector. and are increasingly expecting

Skill development is a need Contrary to popular perception, skill additional services to be provided at development in the industry is not an additional feature or mere an added cost. Security, plumbing, CSR, it is a pressing need. In the absence of adequate skilled gas pipe and electrical services workers, it will be a challenge for crucial government initiatives such will create the need for additional as ‘Housing for All by 2022’ to be accomplished. personnel equipped with required skills. 18 | CREDAI VISAKHA VISION | 2019 Common sense is a flower that does not grow in every garden • Improving the lives of construction Mantri Kaushal Vikas Yojana (PMKVY), National Rural workers: Skill development and training Livelihood Mission – Ajeevika Skills, National Skill increase the wages of construction workers, to Development Agency (NSDA) and the National Skill about 100 per cent in many cases. This enables Development Corporation (NSDC) are overseen by the them to achieve a better lifestyle and greater ministries of Labour Welfare and Skill Development. employment opportunities. Through CREDAI’s • Indeed, it is a collective struggle to bridge the skill skilling initiatives, we’ve been fortunate enough gap in our sector and all industry stakeholders must to bring about this change in their lives and come together to address the necessary concerns. It view the resultant shift in perspective first hand. should no longer be a choice but a sustainable duty and Moreover, CREDAI also encourages participation responsibility to train our workers. in the National and World Skills Competitions for trained workers; many have excelled at these About the author: platforms, boosting their opportunities. Vishal Gupta is Chairman-Labour, Laws and Skill Ways to bridge the skill gap Development, CREDAI National, and Managing Director, Ashiana Housing. At CREDAI, he has spearheaded The fraternity needs to unite to see a tangible skill development initiatives and been instrumental in difference in the volume of skilled labour and, by the training of 1 lakh workers under CREDAI’s skilling extension, quality long-lasting structures. programme. • Onus of developers: Developers need to take greater onus of skilling construction workers as it builds a platform for finesse in construction and long-lasting structures. Moreover, developers can effect a change in mindset by helping workers imbibe the fact that training is important.

• Effective use of the government cess: Of the construction cess collected for the welfare of construction workers, only 10-15 per cent is utilised. There is a huge opportunity to utilise these funds and impact construction workers’ lives for the better.

• Utilise existing platforms: The Government aims to make India the skill capital of the world and various ministries are undertaking initiatives to this end. Many programs have been conceptualised, executed and monitored by various organisations, working closely with the Government, such as CREDAI, CII, FICCI, etc. Further, initiatives and committees like Pradhan

19 | CREDAI VISAKHA VISION | 2019 Find a reason to smile every day. Photo Gallery |

Chairman Sri K.Ramakrishna Rao addressing 3rd regular CA, Sri Ramakrishna Sangu, responding to the queries from meeting. He was flanked by President Sri B.Srinivasa Rao and President Sri B.Srinivasa Rao, Chairman Sri K.Ramakrishna Hon Secretary Sri V.Dharmender. Rao and Hon secretary Sri V.Dharmender on various issues connected with GST at the 3rd regular meeting.

CA, Sri Ramakrishna Sangu, receiving a sapling from former Sri MVV Satyanarayana, first time signing CREDAI-VSP Chairman, CREDAI-VSP Sri B.Raja Srinivas, at the 3rd regular members register, as Member of Parliament at the 3rd regular meeting. meeting.

Hon’ble MP Sri MVV Satyanarayana, CREDAI-AP Chairman Members of ELMOT, Alternators Pvt. Ltd. team offering a Sri K.Subba Raju, Former Chairman CREDAI-VSP Sri bouquet to Hon’ble MP, Sri MVV Satyanarayana at the 3rd K.S.Chandran, and Sri GVV Satayanarayana, at the 3rd regular meeting. regular meeting.

20 | CREDAI VISAKHA VISION | 2019 There is no bigger happiness than the joy of giving. Photo Gallery |

President Sri B.Srinivasa Rao, addressing a meeting, arranged to felicitate Hon’ble MP, Sri MVV Satyanarayana was felicitated with a Hon’ble MP Sri MVV Satyanarayana at the 3rd regular meeting. (From left) mega garland at the CREDAI-VSP’s regular meeting. Former Chairmen Sri B.Raja Srinivas and Sri K.S.Chandran, CREDAI-AP Chairman Sri K.Subba Raju, Hon’ble MP Sri MVV Satyanarayana, Chairman Sri K.Ramakrishna Rao, former Chairman CREDAI-VSP Sri GVVS Narayana and Hon Secretary Sri V.Dharmender are also seen on the dais.

Hon’ble MP Sri MVV Satyanarayana being presented the felicitation plaque Hon’ble MP Sri MVV Satyanarayana was being felicitated by at the 3rd regular meeting of the CREDAI-VSP.President Sri B.Srinivasa offering a bouquet by the office bearers of CREDAI-Kakinada Rao (with mike in hand), Chairman Sri K.Ramakrishna Rao, former Chairmen Sri B.Raja Srinivasa and Sri K.S.Chandran, Hon’ble MP, Sri MVV at the CREDAI-VSP’s regular meeting. Satyanarayana, CREDAI-AP Chairman Sri K.Subba Raju, Hon’be MLA Sri Tippala Nagi Reddy…..former Chairman Sri GVVS Narayana and Hon Secretary Sri V.Dharmender are also seen.

Hon’ble MP Sri MVV Satyanarayana is being presented with a Hon’ble MP Sri MVV Satyanarayana is being offered a memento by members of CREDAI Chapter, at bouquet by the office bearers of CREDAI Srikakulam Chapter, the 3rd regular meeting of the CREDAI-VSP. Srikakulam, at the CEDAI-VSP’s regular meeting.

21 | CREDAI VISAKHA VISION | 2019 Accept both compliments and criticism. It takes both sun and rain for a flower to grow. Photo Gallery |

Chairman, Sri K.Ramakrihna Rao, congratulating, Sri KVR Vice President, Sri N.Srinivasa Rao, presenting a memento to Raju (Ramesh) for successful completion of his tenure as CYW Sri P.Subhash, Secretary, CYW on his successful completion Coordinator for the years 2018-19 at the 4th regular meeting of his tenure for the years 2018-19. on 1st July. President Sri B.Srinivasa Rao and Hon Secretary Sri V.Dharmender, had joined in congratulating Sri Ramesh.

President Sri B.Srinivasa Rao, presenting a memento and CYW Committee member Sri.B.V.Sreedhar, receiving a sapling to Sri G.Kartik who had successfully completed his memento from Vice President Sri Ch.Srinivas at the 4th regular tenure as Convener of CYW for the years 2018-19. meeting.

On completion of their term of office, Office bearers of CYW for EC member Sri K.Srinivas, welcoming new CYW Coordinator, the years 2018-19 were extended a warm send off at the 4th Sri J.Kumar Nandan and CYW Secretary Sri B.Suman, for the regular meeting on 1st July. years 2019-20 at the 4th regular meeting held on 1st July 2019 at the KSR Function Plaza.

22 | CREDAI VISAKHA VISION | 2019 Believing in your self is the first secret of success. Photo Gallery |

Minister for MA&UD, Sri Botsa Satyanarayana, being felicitated Former Chairman, CREDAI-AP, Sri K. Subba Raju, is being presented by office bearers of CREDAI-Visakhapatnam, at a get together a memento by CREDAI-VSP members, at the felicitation ceremony in event in Vijayawada on26/07/2019.CREDAI-VSP President Sri Bheemavaram on 19/07/2019.CREDAI-VSP President, Sri B.Srinivasa Rao, B.Srinivasa Rao Hon secretary, Sri V.Dharmender are seen in Hon secretary, Sri V.Dharmender, Treasurer Sri Ch.Govinda Raju, Joint Secretary, KVR Raju and former Chairman Sri B.Raja Srinivas, are also the picture. seen in the picture.

Minister Sri Muttamsetti Srinivasa Rao, responding to his Hon’ble Minister, Sri Muttamsetti Srinivasa Rao, has been felicitation by CREDAI-VSP at its regular meeting. (From right) extended a grand felicitation by the CREDAI-VSP at its regular CREDAI-VSP Chairman Sri K.Ramakrishna Rao, Hon’ble MP meeting on 2nd August 2019. To Minister’s left is Hon’ble MP Sri MVV Satyanarayana, Hon secretary Sri V.Dharmender and Sri MVV Satyanarayana. Senior members of CREDAI-VSP are President Sri B.Srinivasa Rao are seen in the picture. also seen in the picture.

Minister Sri Muttamasetti Srinivasa Rao, releasing CREDAI-VSP’s bi- C.N. Ananta Narayanan, AD of National Academy of Customs, monthly Bulletin “VISAKHA VISION” at the regular meeting on 2nd August Indirect Taxes &Narcotics (NACIN), delivering an awareness 2019. (From left) Hon secretary Sri V.Dharmender, President Sri B.Srinivasa lecture on “Sector Specific Training, Construction Services, Rao, Hon’ble MP Sri MVV Satyanarayna and Chairman sri K.ramakrishna GST at the regular meeting of the CREDAI-VSP on 2nd August Rao are seen showing copies of the magazine. 2019 at the KSR Function Plaza.

23 | CREDAI VISAKHA VISION | 2019 Money is the worst discovery of human life, but it is the most trusted material to test human nature. Will Visakhapatnam get a second Airport?

Mumbai and Delhi ready to Despite get a second airport, talks are the Jet Airways on for Visakhapatnam, Kolkata, Chennai, crises, India is still and Pune, among other cities. positioned as one of the fastest growing domestic As reported, the Airports Authority of India (AAI) aviation markets in the world. Chief raised concerns on the rising demand That said, reports indicate that the for air travel in the country and the need for Civil Aviation Ministry is planning on a second airport in Indian cities. It is known offering additional options for travelers with that AAI is operating 125 airports, including11 talks on for a second airport to be planned international aerodromes. The challenges lies and developed in India. in land acquisition as the AAI Chief has been reportedly cited stating that the construction of According to reports, India and China will account an airport requires at least 2,000 acre, and that for almost half of the world’s air passenger growth AAI along with the Ministry of Civil Aviation has in the next two decades. With this, major Indian been writing to state governments to reserve cities would definitely require second airports. With land for a second airport.

24 | CREDAI VISAKHA VISION | 2019 Lesser the traffic of words in your mind…easier the journey in life.

Infrastructure should precede residential development and not the other way round.

Sriram Mahadevan, Managing Building affordable housing Director, JoyvilleShapoorji in far-flung areas with scanty Housing, shares more on the connectivity and social potential of affordable housing infrastructure is not desirable as in India and the company’s the target segment may not like to focus going forward with displace themselves and move SHRIYAL SETHUMADHAVAN. to such a place. The solution How do you view the is to fuel the infrastructure of availability of funds for metros connecting the far- project execution? flung areas through an efficient For corporate developers, mass transport system, which availability of funds has never would ensure that an increasing been a challenge. The situation amount of landis made available has not changed much, even in the market for development. during the current liquidity Infrastructure should precede crunch witnessed overall in the residential development and not financial market. the other way round. Approval How do you view the timelines have remained a construction opportunities challenge for the real-estate in the sector for the next five sector. Single-window clearance years? with defined timelines will surely Demand for affordable help the viability of the business housing has always been and ensure more supplies are there; this lends itself to huge infused in the market. construction opportunities. The How do you view growth in healthy pipeline of construction affordable housing in the activities in the affordable coming five years? segment will keep generating Joyville is catering to the mid- employment opportunities that, income segment, which is in turn, will fuel the GDP growth important in the overall growth rate going forward. Thus, story for the next five years in construction of affordable India. We are present in four housing will surely contribute metros in India so far and would positively to the overall growth like to focus on getting into of the economy. other job-creating metros like Any recommendations to Bengaluruand Hyderabad, apart give a further fillip to the from expanding in Mumbai, sector? Pune and Delhi (NCR).

26 | CREDAI VISAKHA VISION | 2019 A few nice words can help a person a lot more than you think. IS: 15778

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Authorised Distributor: Visakhapatnam: 0891-2505601 | Gajuwaka: 0891-2752122 NAIDU PVC CENTER Vizianagaram: 08922-231919 | Madhurawada: 0891-2528790 th NATCON 19 2019 The latest edition of Israel is a country of technology and innovations and it helped greatly. CREDAI’s NATCON19, Israel had developed technology to desalinate sea water into useful water. It held on September 5,6 recycles 80 per cent of used water. These are some inspiring aspects. Their and 7, in Tel Aviv, the best practices could be replicated where ever and whenever is possible. capital city of Israel, has Prime Minister of Israel Sri Nathanyahu had addressed the conference been a mega success. through video. As many as 1200 top realtors from all parts The mega convention was educative and the add-on tour for the participants of the country attended of CREDAI-VSP Chapter was enjoyable. Israel is hub of technology and the annual mega event innovations. These could be used to reduce cost of construction. Participants of CREDAI. This is a had also the opportunity of rubbing shoulders with top realtors in the country record. A special feature as also with the VVIPs and VIPs who had delivered inspiring lectures at the of this important event sessions. This would be etched in their memories for a long time. The add this time is, it has been on tour to important countries like Jordan and other places had been quite jointly organized by enjoyable. and Telangana chaptees and The visit was worth its time and money. delegates from small and medium towns had also participated. More than 350 delegates attended from both states.

The theme of this year’s NATCON was “resilience to excellence”. A number of issues connected with realty sector,like liquidity, rates of interest on housing loans have been thoroughly discussed. Sessions on latest technologies, innovations, human resources and their use in realty sector have also been discussed.

28 | CREDAI VISAKHA VISION | 2019 Nowadays, people know the price of everything and value of nothing. SRI Sai Decent Floors Kommadi Junction, Madhurawada, Visakhapatnam

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30 | CREDAI VISAKHA VISION | 2019 Loving nature is equivalent to worshipping god….Swamy Vivekananda.