3rd Edition of CREDAI STATECON’23 event ends on high note

The 3rd Edition of CREDAI STATECON’23 West Bengal got underway, at DhonoDhanyo Auditorium Kolkata  in the august  presence of Hon’ble Chief Minister of West Bengal, Mamata Banerjee.

Affiliated with CREDAI, the apex body of Real Estate Developers in India with 13,000+ developers across 21 states and 230 cities, CREDAI West Bengal transcends boundaries to shape the industry’s landscape. An Apex body of the five dynamic city chapters namely Kolkata, Howrah-Hooghly, Asansol, North Bengal, Burdwan&Birbhum, uniting over 600 members across the state, CREDAI WEST BENGAL has been relentlessly championing the cause of infrastructure development in the state.  It flagged off its poster boy initiative of the STATECON three years ago with an aim to showcase Bengal’s potential to the investors, highlight Government initiatives, explore innovations and provide discerning insights into emerging trends in real estate.

Mr. SushilMohta, President CREDAI West Bengal said, “We are living in an age of fast urbanizations, the rural populace migrates to urban centers. Every year one million people shift to cities to avail better jobs, explore educational opportunities and avail healthcare facilities. The rise in income of middleclass is helping in a steady upward shift from lower income group to middle income group. Moreover, the overall rise in disposable income has enabled people to buy homes for their families as their first priority.  These necessitate an accentuated pace of development in infrastructure in urban areas like roads, housing, educational institutes and healthcare facilities. However, it is not possible for the state government to take the huge pressure of developing the required Housing and infrastructure to ward off the pressure on the existing infrastructure.  Here comes the involvement of Private sector that can collaborate with the state government and development authorities and build housing and other infrastructures needed meet this huge pent up demand of people. We hope the STATECON 2023 will bring all stakeholders from the state government, real estate companies, architects, planners, construction companies under one roof to facilitate this huge demand of urbanization.”

MrTamalGhosal, President, CREDAI Howrah Hooghly &Convenor STATECON said “The STATECON’23 will be an interactive platform for the real-estate stakeholders of the state and will focus on the need for development of the real estate development. Further we will showcase the opportunities in West Bengal, and the various initiatives undertaken by the Government of West Bengal to bring Ease of Doing Business (EODB) in the state’s industry and business scenario.

Mr.SidharthPansari, President –Greater Kolkata of CREDAI said, “It is expected in Bengal, the rate of urbanization will move up to 42 percent in the state from the current 36%. This will entail an addition of almost 8 million people to urban West Bengal in this period. Keeping in mind an existing shortage of urban housing it is the need of the hour to accommodate maximum numbers of people in lesser land.”

Mr. Naresh Agarwal, President CREDAI North Bengal & Co-Convenorsaid “The objective of the STATECON’23 is to chart the way forward for the industry after assessing the current scenario and offering solutions. The real estate sector has forged ahead due to the robust process of urbanization and genuine demand as a result. We hope, we will have solutions to most of our queries as the sessions are extremely engaging and insightful.”

Mr.Angshuman Magazine, Chairman & CEO- India, South East Asia, Middle East & Africa, CBRE said “West Bengal’s growth story has been on an accelerated trajectory, exemplifying an amalgamation of favorable policy frameworks, advancements in infrastructure, and a promising landscape for business. The interplay of these elements has established a sturdy groundwork, thereby enriching the potential for investments across a wide spectrum of real estate domains. In the context of Kolkata’s real estate landscape, the strategic supply dynamic has emerged as a pivotal driving force behind the heightened absorption rate, thereby acting as a fundamental factor in real estate growth. The state is emerging as an international investment hub as it continues to solidify its position in Eastern India.”

STATECON 2023, witnessed a series of panel discussions on the current Real Estate scenario of the state along with external factors acting as driving forces for the industry showcasing of Real Estate & Urbanization as a Driver of Economic Growth and Employment’. The presence of domain experts, thought leaders, industry stalwarts as well as key Government officials deliberated and discussed the upcoming opportunities and challenges in this hypercompetitive market.

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