Date – April 7, 2019 Issue no – 201906

CREDAI New Leadership Team, FY 2019- 21

L-R, Mr. Pankaj Goel, Secretary; Mr. Satish Magar, President; Mr. Jaxay Shah, Chairman;

Mr. Harshvardhan Patodia, President-Elect

The New Leadership Team FY 2019-21 Mr. Jaxay Shah, Chairman Mr. Satish Magar, President Mr. Harshvardhan Patodia, President-Elect Mr. Pankaj Goel, Secretary Mr. Anant Rajegaonkar, Treasurer Vice Presidents EC Members Mr. Narendra Kumar, East Zone Mr. Prakash Challa, Special Invitee Mr. Boman Irani, West Zone Mr. Jitendra Thakker, Special Invitee Mr. Vishal Gupta, North Zone Mr. Balakrishna Hegde, Special Invitee Mr. N Nagraj Reddy, South Zone Dr. Jagannath Prabhudessai, Goa Mr. Shekhar Patel, Central Zone Mr. Sudhakar Chigurupati, Andhra Pradesh Mr. Shantilal Kataria, Special Zone, Maharashtra Mr. Pranab Sharma, Assam Mr. Shankar Shastri, Karnataka Mr. Manish Agarwal, Haryana Mr. Sanjay Gupta, Rajasthan Joint Secretaries Mr. Ramandeep Singh, Joint Secretary, North National Zonal Secretaries Mr. K. Sriram, Joint Secretary, South Mr. Arun Tiwari, Central Mr. Najeeb Zackeria, Joint Secretary, South Mr. Nandu Belani, East Mr. Chandrakant Raipat, Joint Secretary, East Mr. Jagjit Singh, North Mr. Naveen Mehta, Joint Secretary, Central Mr. Sunil Furde, West Mr. G Ram Reddy, South Committee Chairman Mr. Jaxay Shah, White Paper Implementation Mr. Jitendra Thakker & Mr. Balakrishna Hegde, Advisory Council (Constitution) Mr. Prakash Challa, National Advisory Council (Business & Policy) Mr. Prakash Challa, National Advisory Council, Budget Mr. Anand Singhania, MSME Mr. Domnic Romell, Civil Aviation & Mod Mr. Dhaval Ajmera, Land Monetization Mr. Ranjit Naiknavare, NCLT Mr. Shrikant Paranjape, Direct Taxes Mr. R C Gupta, Indirect Taxes Mr. Rajesh B Lund, MoEF & NGT Mr. J.C. Sharma, Banking & Finance Mr. Vijay Mirchandani, E-library & Statistics Mr. Suhas Merchant, RERA Mr. Ajit Chordia, Legal / Litigations Mr. G. Yoganand, Labour Laws Mr. J P Shroff, Skilling Mr. Manoj Gaur, Affordable Housing Mr. Pankaj Bajaj, Urban Development Ms. Darshana Parmar Jain, Smart City

CREDAI Women’s Wing CREDAI Youth Wing Mr. Rohit Raj Modi, Chief Patron Mr. Rohit Raj Modi, Chief Patron Ms. Darshana Parmar, Advisor Mr. Jagannath Rao Bandari, CYW National Convenor Ms. Bani Anand, National Convenor Mr. Ashish Pokharna, CYW National Secretary

The New President Vision for FY 2019-21

CREDAI on RBI Decision of Repo Rate Cut to 6%

The decision by RBI to reduce the repo rate by 25 basis points to 6% is a hugely positive sign for the Indian Real Estate industry. The rate cut is expected to substantially enhance home-buyer sentiments and add further impetus to the industry’s revival, which needed a boost especially post the NBFC Crisis. The EMI burden on homebuyers will also reduce and improve the purchasing power which is expected to provide a huge stimulus to Indian Realty. This step by the RBI can be largely seen as a huge win for homebuyers amidst the Government’s constant measures of establishing a highly conducive environment for Indian realty.”

- Satish Magar, President

Event Date Location

CREDAI

NATCON 2019 Aug 5-7, Tel Aviv,

Israel CREDAI MCHI

International BIZ June 19-22 Mumbai

Mr. Jaxay Shah, Former President (2017-19) & Current Chairman (2019-21) inaugurated CREDAI Maharashtra’s new office on March 30 in the presence of Former Chairman, Mr. Getamber Anand (2017-19), President, Mr. Satish Magar (2019-21), Mr. Shantilal Kataria and leaders from 51 cities of Maharashtra.

CREDAI Andhra Pradesh 6th Annual General Body Meeting held on March 24. The New Office Bearers for CREDAI Andhra Pradesh were also announced on the same day.

CREDAI at a Glance

Installation of CREDAI Vijayawada new team held on March 27, 2019

Mr. Rajiv Parikh elected as CREDAI Maharashtra New President on March 30. Mr. Shantilal Kataria, Former CREDAI Maharashtra President handovers the baton to him.

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Date Representations & Meetings Topics

1 2.4.2019

Mrs. S V R Ramana, Under Secretary, Ministry of Housing and Urban Affairs, GOI, New Delhi

Committee constituted under Chairmanship of Joint Secretary

(DAY- NULM) to examine Qualification Packs of CSDCI for

recommendations to NSDC

2 27.3.2019

Shri A. K. Nautiyal, Joint Secretary, Ministry of Environment, Forests and Climate Change, New Delhi CREDAI delegation:

1. Atul Kumar Rai

2. I P Inamdar

3. Reginald John Sinclair

Exemption of Corporate Environment responsibility (CER)

for Real Estate Projects

3 18.3.2019 Shri Shiv Das Meena, Additional Secretary, MOHUA & Shri Anupam Mishra-, Economic Adviser, MOHU. CREDAI Delegation: 1. Mr. Ankur Gupta, 2. Mr. Reginald J. Sinclair 3. Mr. Saumyajit Roy, ASLI 4. Mr. Hitesh, ASLI

Development & Regulation of Retirement homes

4 15.3.2019

Dr K P Krishnan, Secretary, Ministry of Skill Development & Entrepreneurship, New Delhi

RPL-Bridge Course under PMKVY: The need of the hour

CREDAI Representations & Meetings Update

CREDAI MCHI Youth Wing organized as 2-day Study Tour to Bangalore. The members visited Sobha Ltd and Prestige Lakeside Habitat & Presitige Shantiniketan sites to get an insight of the project implementation and execution. RED Sessions with industry stalwarts Mr. J C Sharma Vice Chairman Sobha Ltd. and Mr Irfan Razack gave a holistic view of the Indian Real Estate industry and their journey from hardship to success.

Sandra Sabu (16) made India proud by winning the Silver medal for 400 meters at the Asian Youth Athletics meet held at Hongkong recently. Anu came fifth place in the triple jump at the same meet. Both these girls are being trained by CREDAI Mercy Kuttan Academy in Kochi.

Date Section Sub-section

Document Title Link

16/03/19 Reports & Journals

Other Research Organization Reports

Residential Real Estate Market Q3 2018-2019

https://knimbus.s3.amazonaws.com/org_ab15180f-4cce-4e43-bbb5-f3e159ba0f98/de3ee263-78b5-477a-bb1d-1f324a1412ba/Real_Estate_Market_Report.pdf

20/03/19 GST Circular Decisions taken by the GST Council in the 34th meeting

https://knimbus.s3.amazonaws.com/org_ab15180f-4cce-4e43-bbb5-f3e159ba0f98/da739c1b-c682-4978-94f4-a8598f18a053/Press_release_190319.pdf

26/03/19 GST IGST Amendments to Foreign Trade Policy 2015-2020

https://knimbus.s3.amazonaws.com/org_ab15180f-4cce-4e43-bbb5-f3e159ba0f98/da739c1b-c682-4978-94f4-a8598f18a053/200600.pdf

27/03/19 Laws and Regulations

Industrial Policy

The Real Estate (Regulation and Development) act 2016

https://knimbus.s3.amazonaws.com/org_ab15180f-4cce-4e43-bbb5-f3e159ba0f98/27948cb4-6d4f-11e7-9035-0200cd936607/Real_Estate_Act_2016.pdf

27/03/19 Laws and Regulations

Industrial Policy

The Town and Country Planning Act 2001

https://knimbus.s3.amazonaws.com/org_ab15180f-4cce-4e43-bbb5-f3e159ba0f98/27948cb4-6d4f-11e7-9035-0200cd936607/CountryandPlanningact.pdf

28/03/19 Environment Clearance

Air Protection act

National Clean Air Programme (NCAP)-India

https://knimbus.s3.amazonaws.com/org_ab15180f-4cce-4e43-bbb5-f3e159ba0f98/2794a09d-6d4f-11e7-9035-0200cd936607/NCAPwithannex-ilovepdf-compressed.pdf

28/03/19 Registration Rate and Stamp Duties

Transfer of Property Act

The Requisitioning and Acquisition Of Immovable Property (Amendment) Act, 2018

https://knimbus.s3.amazonaws.com/org_ab15180f-4cce-4e43-bbb5-f3e159ba0f98/2794934a-6d4f-11e7-9035-0200cd936607/open-file.pdf

01/04/19 GST CGST The Central Goods and Services Tax (Removal of Difficulties) Order, 2019

https://knimbus.s3.amazonaws.com/org_ab15180f-4cce-4e43-bbb5-f3e159ba0f98/da739c1b-c682-4978-94f4-a8598f18a053/201160.pdf

01/04/19 Environment Clearance

Environmental Protection act

Standardization of Environment Clearance conditions for Infrastructure sector (Highways), covered under schedule 7(f) of the EIA Notification 2006- reg.

https://knimbus.s3.amazonaws.com/org_ab15180f-4cce-4e43-bbb5-f3e159ba0f98/2794a09d-6d4f-11e7-9035-0200cd936607/EIA.PDF

02/04/19 Reports & Journals

Other Research Organization Reports

CBIC notifies reduced rates for real estate sector and transition related modalities

https://knimbus.s3.amazonaws.com/org_ab15180f-4cce-4e43-bbb5-f3e159ba0f98/de3ee263-78b5-477a-bb1d-1f324a1412ba/CBIC_reduced_.pdf

CREDAI E-Library

02/04/19 GST CGST Notification G.S.R. 249(E) Central Tax

https://knimbus.s3.amazonaws.com/org_ab15180f-4cce-4e43-bbb5-f3e159ba0f98/da739c1b-c682-4978-94f4-a8598f18a053/201338.pdf

03/04/19 Bank and Home Loan Circulations

Banking Circular

RBI Circular: Resolution of Stressed Assets

https://knimbus.s3.amazonaws.com/org_ab15180f-4cce-4e43-bbb5-f3e159ba0f98/a153e1cc-805c-4eb4-bae2-08070073233f/131DBRCEC9D8FEED1C467C9FC15C74D01745A7.PDF

03/04/19 Bank and Home Loan Circulations

Banking Circular

Judgment - Reserve Bank of India [“RBI”] Circular issued on12.02.2018

https://knimbus.s3.amazonaws.com/org_ab15180f-4cce-4e43-bbb5-f3e159ba0f98/a153e1cc-805c-4eb4-bae2-08070073233f/42591_2018_Judgement_02-Apr-2019.pdf

03/04/19 Landmark Judgments

Judgment - One-sided Clauses constitute Unfair Trade Practice under Section 2(r) of Consumer Protection Act 1986

https://knimbus.s3.amazonaws.com/org_ab15180f-4cce-4e43-bbb5-f3e159ba0f98/dca591d6-5168-4752-a2a3-e16f4e53f163/One-sidedClausesconstituteUnfairTradePracticeunderSection2rofConsumerProtectionAct1986.pdf

05/04/19 Landmark Judgments

Pioneer Urban Land and Infrastructure Ltd. Vs Govindan Raghavan

https://knimbus.s3.amazonaws.com/org_ab15180f-4cce-4e43-bbb5-f3e159ba0f98/dca591d6-5168-4752-a2a3-e16f4e53f163/46308_2018_Judgement_02-Apr-2019.pdf

1. Real estate is in for sunnier days in 2019, says CBRE. Read more at:

https://economictimes.indiatimes.com/markets/stocks/news/real-estate-is-in-for-sunnier-days-in-2019-says-

cbre/articleshow/68595661.cms

2. Residential sales jump 58% on year in January-March, launches up 91%. Read more at:

https://realty.economictimes.indiatimes.com/news/residential/residential-sales-jump-58-on-year-in-january-

march-launches-up-91/68720269

3. REITS a new fuel for commercial real estate. Read more at:

https://www.businesstoday.in/opinion/perspective/reits-a-new-fuel-for-commercial-real-

estate/story/334247.html

4. Indian realty private equity inflows $53 billion since 2008: Report. Read more at:

https://realty.economictimes.indiatimes.com/news/industry/indian-realty-private-equity-inflows-53-billion-

since-2008-report/68699222

5. Raymond group enters real estate; launches Rs 3,500 crore maiden project. Read More at:

https://www.businesstoday.in/top-story/raymond-group-enters-real-estate-launches-rs-3500-crore-maiden-

project/story/333693.html

Industry News