Credai Advocates Land Reforms for Real Estate Boom by 2047
The Confederation of Real Estate Developers' Associations of India (Credai) has launched a robust initiative to drive the real estate sector's growth by 2047. This initiative, known as the National Real Estate Development Framework under Credai Viksit Bharat 2047, focuses on nine key areas to transform the industry. One of the primary pillars of this framework is the implementation of comprehensive land reforms.
Land reforms are crucial for unlocking the potential of the real estate market. They aim to streamline land acquisition processes, ensure fair compensation for landowners, and promote sustainable development. By addressing these issues, Credai hopes to create a more transparent and efficient system that benefits all stakeholders.
The Delhi Development Authority (DDA) is also playing a significant role in this transformation. They are spearheading a major infrastructure redevelopment project in Dwarka Sector 19 and surrounding villages, covering 1,769 hectares of land. The project's first phase involves appointing a firm to conduct a comprehensive survey of the area, which will inform the design of an extensive road and drainage network. Preliminary work has already commenced, and tenders have been issued for further construction. The DDA aims to boost development across outer regions, enhancing the quality of life for residents and attracting more investment.
Another significant development is the adoption of Insurance Surety Bonds (ISBs) by the National Highways Authority of India (NHAI). ISBs issued by insurance companies for NHAI contracts have surpassed the Rs 10 billion mark. As of July 2025, twelve insurers have issued around 1,600 ISBs as ‘Bid Security’ and 207 as ‘Performance Security’, valued at approximately Rs 10.37 billion. NHAI has actively promoted ISBs as an alternative mode of submitting Bid Security or Performance Security deposits. To encourage broader adoption of ISBs and Electronic Bank Guarantees (eBG), NHAI organized a workshop in New Delhi. The session was chaired by senior officials and aimed to educate contractors and stakeholders about the benefits of these financial instruments.
Infrastructure upgrades are also underway in other parts of the country. A 5.5-km section of the 17-km Bhuwana to Balicha bypass, extending up to Pratap Nagar, has been upgraded to a four-lane road, with a width equivalent to a six-lane highway. Work on dividers, decorative poles, and lighting tests has been completed, while plantation work is currently underway. The Urban Development Authority (UDA) will formally inaugurate the project once minor finishing touches are complete. The project, announced in the 2021–22 Chief Minister’s budget, was completed at a total cost of Rs 383.6 million. Two overbridges have been constructed on this stretch, one at the RTO intersection, to enhance traffic flow and safety.
These initiatives underscore the commitment of various stakeholders to drive the real estate sector's growth. Credai's framework, coupled with the DDA's infrastructure projects, NHAI's adoption of ISBs, and the UDA's road upgrades, are all contributing to a more robust and sustainable real estate market. By focusing on land reforms, infrastructure development, and innovative financial solutions, these efforts are poised to transform the industry and achieve the vision of Credai Viksit Bharat 2047.
Credai, established in 1999, is a national-level apex body representing real estate developers in India. It plays a crucial role in advocating for policies that promote sustainable and inclusive growth in the real estate sector. The organization works closely with government bodies, industry experts, and other stakeholders to create a conducive environment for the development of the real estate market. Through its various initiatives, Credai aims to ensure that the real estate sector contributes significantly to the country's economic growth and development.
