The focus at the NATCON 2008 convention was on the need for more affordable housing

The real estate sector represents one of the most important facets of the growth story of India, according to Kamal Nath, minister of commerce and industry.
   
He was speaking at the inaugural session of CREDAI’s NATCON 2008, the national real estate convention, held in New Delhi between January 7 and 9. More than 800 delegates from government, real estate and housing finance institutions were present.
  
 Emphasising the need for affordable housing, Kumari Selja - minister of state, (IC), Housing and Poverty Alleviation, said in her presidential address: "The urban housing backlog with increased urbanisation in India assumes alarming proportions, especially for the economically weaker sections and low-income groups.
   
She added: "The private sector has to play a more proactive role in taking up housing programmes on a massive scale for the poor and low-income groups with social commitments.”
   
She also spoke of how there were plans to involve the private sector in the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) for completion of 1.5 million dwelling units in the country by the end of 2012.
  
 Mr. Kumar Gera, Chairman, CREDAI, said, "Though the real estate sector in the country is growing at a stupendous rate, it is not benefiting all. The sum total of direct and indirect taxes, duties and levies mounts to a very significant figure, almost in excess of 25%, for a housing unit that has a pan-India average cost of Rs.2700 sq ft. This negates the impact of this boom and widens the gap between what one can afford and what is available. Therefore, there is an urgent need to find ways to reduce these costs in order to decrease the price of the end product."
  
 Coming up with a novel suggestion, he said: "The way to make available affordable housing could be through setting up of 'special residential zones' that would enjoy various exemptions, as in the case of the SEZs. These SRZs would have small residential units below 60-70 sq. mtrs. that would make available large scale affordable housing for the masses. "
   
Rajni Ajmera, President, CREDAI, during his welcome address said,"NATCON 2008 is CREDAI's attempt to bring together developers, real estate professionals, policy makers, financial institutions and investors under one roof to debate, discuss and explore new avenues in the real estate sector in India.” CREDAI has allegiance from 20-state/city level associations.