The 4th edition of the New India Summit-2022 of the CREDAI will be held in Visakhapatnam on April 29 and 30 to discuss challenges real estate development and development of realty in tier-2, 3 and 4 towns and cities, according to CREDAI national vice president Gummi Ramreddy. The fourth edition will mainly discuss the road map to real estate development in non-metropolitan cities, he said. Disclosing this to media, he acknowledged strong growth in metro cities and increased opportunities in them. Similarly, on account of work-from-home has led to development of tier-2 and 3 towns and cities too. People feel that there is ample scope for realty development in Tier-2 and 3 towns and cities because one can buy large houses at affordable prices in such towns and cities. CREDAI has realized that the role the developers play in small towns and cities will give a lot of impetus to realty industry in particular and economy in general, he said. In the wake of Covid-19, businesses in all regions and economy have been affected severely. In this backdrop, construction material costs have sky-rocketed. To solve the problem, innovative ideas are necessary. The summit will see experts sharing their ideas with the participants.
The theme for the summit would be “Cruise: Navigate the future”. Over 500 developers across the country would take part in the event. The Real Estate sector is a catalyst to the nation’s economy. The realty sector is gearing up itself for a new revolution, says Indian Real Convener Dharmender Varada. Non-metro towns and cities will hold the promise for the new revolution to flourish, he said.
