(King Johnson Koyyada)
“In an effort to make a difference in CREDAI and strengthen its position in India, Gummi Ram Reddy, the newly elected Secretary of CREDAI National has expressed his commitment to propelling the construction sector forward. During his interview with Real Estate Guru, Ram Reddy emphasized the need for innovative approaches to foster growth in the country’s construction industry. He expressed optimism that by 2030, the Indian real estate industry will propel the country’s economy to reach a trillion-dollar milestone.
Ram Reddy highlighted the significance of the construction sector in the Indian economy, underscoring its role as the backbone of numerous industries. Over 250 sectors, including steel, cement, hardware, electrical, copper, aluminum, and plywood, are closely linked to construction. Notably, after agriculture, the construction sector provides substantial employment opportunities, creating over five crore jobs. Its contribution to the GDP stands at approximately 8-9 percent. He was confident that the Indian economy could achieve the status of a trillion-dollar economy by 2030.
Despite concerns about a global recession, Ram Reddy reassured that India’s robust economy would not be significantly affected and could easily withstand the test compared to other developed nations. He pointed out that the impact on job losses among Indians working abroad has been relatively minimal due to their diligent work ethic and resilience.
Addressing Challenges
As the number of housing units and buyers continues to rise, the construction sector faces challenges in terms of a shortage of skilled workers. Ram Reddy acknowledged the urgency of addressing this issue and shared the steps being taken to provide comprehensive training to construction workers. In his capacity as the Director of the Construction Skill Development Council of India, he assured to expand skill development initiatives.
Ram Reddy also highlighted the persistent delays in obtaining permits in certain states, attributing them to varying local conditions. While the construction and labor costs have increased by nearly 40- 50 percent in the last three years, the delays caused by government policies are further increasing expenses. He called for simplified government policies, particularly related to environmental regulations, GST, and RERA, to facilitate ease of doing business. Furthermore, he stressed the importance of preventing artificial inflation through collaboration among industry stakeholders. Ram Reddy assured that any challenges encountered would be promptly communicated to relevant authorities through CREDAI National.
Realty across Indian Cities
Ram Reddy acknowledged the diverse nature of the construction sector across different regions of India, each with its own priorities. Cities like Mumbai are witnessing a surge in construction projects, especially focused on redevelopment efforts and the construction of a massive number of flats.
To make housing more affordable for many people, some developers are constructing smaller flats due to space constraints and soaring flat prices. Pune stands out for its significant number of affordable housing options. Kolkata’s real estate market has been performing well recently, while the NCR region has shown promising growth. Hyderabad, Bengaluru, and Chennai, Vizag, Cochin, Ahmedabad are witnessing positive trends in real estate. All these cities are witnessing realty growth that caters to local needs.
Fulfilling the President’s Vision
Highlighting the importance of CREDAI as a trusted brand that inspires confidence among home buyers, Ram Reddy is committed to support and implement the CREDAI National President’s vision to further elevate its reputation. Drawing on his previous role as the CREDAI National Vice-President, he emphasized the strong relationships established with developers across South India and other states, which have enhanced awareness of market conditions. As the National Secretary of CREDAI, Ram Reddy intends to fulfill the visionary President’s goals by coordinating with CREDAI’s 22 committees. He stressed the need for seamless coordination and support from CREDAI National in organizing all the meetings and events.
No Stress When You Love It! (Box)
Ram Reddy shared his belief that stress does not arise when one is passionate about their work and maintains physical as well as mental well-being. He believes that work will not be stressful as long as one plans effectively. He expressed his unwavering dedication to making ARK Group one of the country’s premier construction companies. Through the ARK Foundation, the company is actively involved in providing education to underprivileged children and supporting aspiring sport’s personal, underscoring their commitment to social responsibility.”
