CREDAI Returns to Bhubaneswar for EGM 2025: Boosting Real Estate in Tier-2 and Tier-3 Cities
The Confederation of Real Estate Developers' Associations of India (CREDAI) held its Extraordinary General Meeting (EGM) 2025 in Bhubaneswar, marking a significant return after nine years. The event focused on sustainable urban development and investment in Tier-2 and Tier-3 cities.
Real EstateCredaiBhubaneswarTier2 CitiesSustainable DevelopmentReal EstateAug 02, 2025
The meeting was graced by Hon’ble Governor of Odisha, Dr. Haribabu Kambhampati, who emphasized Odisha’s strategic economic transformation. “Odisha stands at a critical inflection point—emerging as the growth engine of Eastern India. Smart cities like Bhubaneswar and Rourkela, the Bhubaneswar-Cuttack-Puri Corridor, and major industrial corridors are unlocking immense potential,” he said. He urged developers to focus on Tier-2 and Tier-3 cities for balanced urbanisation and invest in affordable housing, green development, and digital infrastructure. The Governor stressed the need for ethical business practices and customer-centric models to build trust in the sector.
Credai President Shekhar G Patel highlighted the evolution of Bhubaneswar over the last decade, stating, “From a twin city, we now see a vision for a dynamic Tri-City cluster comprising Bhubaneswar, Cuttack, and Puri. This region is poised to be one of India’s top 50 urban centers.” He underscored the contribution of the real estate sector to India’s economy, stating, “Currently contributing 8.4% to India’s GDP, it is the second-largest employment generator after agriculture. With RERA streamlining the industry, 95% of the sector is now organised. By 2030, it is projected to become a $1 trillion sector, contributing 10% to the GDP.”
Welcoming the guests, Credai Bhubaneswar President Sofia Firdous expressed pride in Bhubaneswar being chosen for the EGM. “With strategic central initiatives like the Smart City Mission, Bhubaneswar is emerging as the real estate capital of Eastern India,” she said.
Speaking at the event, G Ram Reddy, President-Elect of CREDAI, emphasized the organization’s growing national footprint. “Credai operates in over 200 cities across 21 states, with 20,000+ members, and plays a critical role in policy formulation and industry advocacy,” he noted.
Swadesh Kumar Routray, President, CREDAI Odisha highlighted Odisha’s rapid urban development. “Cities like Bhubaneswar, Cuttack, Puri, and Rourkela are witnessing remarkable real estate growth. With state support and a single-window clearance system, Odisha can become a benchmark for other states in real estate reforms and ease of doing business,” he said.
Ekamra MLA Babu Singh hailed developers as modern-day ‘Vishwakarmas’ of nation-building and acknowledged the government’s proactive engagement with developers in recent years to address sectoral challenges.
Swadesh Kumar Routray was unanimously elected as the Vice President East Zone of CREDAI.
Among the other dignitaries present were CREDAI Senior leadership including Shantilal Kataria, Past President Sekhar Reddy, Ramani Shastri & Manoj Gaur, immediate Past Chairman CREDAI.
The EGM 2025 provided an important platform for the real estate community to align with the government’s vision for sustainable, inclusive, and regionally balanced urban development, reaffirming Odisha’s position as a key growth frontier in India’s real estate map.
Frequently Asked Questions
What is the purpose of the CREDAI EGM 2025 in Bhubaneswar?
The purpose of the CREDAI EGM 2025 in Bhubaneswar is to bring together leaders, developers, policymakers, and stakeholders to deliberate on the future of real estate, investment prospects, and sustainable urban development in Odisha and beyond.
Who is the Hon’ble Governor of Odisha and what did he emphasize at the EGM?
The Hon’ble Governor of Odisha is Dr. Haribabu Kambhampati. He emphasized Odisha’s strategic economic transformation and the need for balanced urbanization, affordable housing, green development, and digital infrastructure.
What is the current contribution of the real estate sector to India’s GDP?
The real estate sector currently contributes 8.4% to India’s GDP and is the second-largest employment generator after agriculture.
Who is the newly elected Vice President East Zone of CREDAI?
Swadesh Kumar Routray was unanimously elected as the Vice President East Zone of CREDAI.
What are the key initiatives mentioned for Bhubaneswar's real estate development?
Key initiatives mentioned for Bhubaneswar's real estate development include the Smart City Mission, the vision for a dynamic Tri-City cluster comprising Bhubaneswar, Cuttack, and Puri, and the Bhubaneswar-Cuttack-Puri Corridor.
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