With a view to decluttering metros, the Confederation of Real Estate Developers’ Associations of India (CREDAI) is keen to promote the prospects of development in tier II and III cities.
In this regard, CREDAI will hold its two-day New India Summit-2018 at the newly opened Karnataka State Open University (KSOU) auditorium in Mysuru on December 6 and 7. The theme of the summit will be “emerging cities, India’s future”.
“The cities (large ones) are growing exponentially, thereby putting enormous burden on the current infrastructure. Therefore, creation of new urban centres is critical for decluttering the metros. Upgrading the infrastructure in smaller cities and towns will enable them to attract economic and industrial activity to a great extent,” K. Sriram, joint secretary of CREDAI, told reporters on Saturday.
CREDAI Karnataka president Shankar Sastry said the summit would help showcase Mysuru to developers, who will descend on the city in large numbers.
On queries on unsold apartments in Bengaluru, conference chairman Balakrishna Hegde said the number appears high when it includes apartments that are in various stages of completion. “If you take only to the ready-to-occupy flats, I would say there are no more than 5,000,” he said.
However, he said the number of new launches in Bengaluru had come down in view of the time taken by developers to comply with the conditions of the Real Estate (Regulation and Development) Act.
