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Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Clear out junk files and repair common Windows errorsFree Scan →Scan for outdated or missing drivers - takes under a minuteDriver Scan →CREDAI president-elect G Ram Reddy is asking the Indian government to formally recognize real estate as a key contributor to economic growth and employment. He argues that the sector’s reach extends beyond housing and construction through its links to allied industries and its workforce. His remarks are an appeal for recognition and policy support—not evidence that the government has adopted a new classification or policy.
What recognition is CREDAI calling for?
Speaking during CREDAI-NATCON 2026 in Kolkata, held October 2–4, Reddy said real estate should be formally recognized for its contribution to India’s economy. He framed the case around the industry’s connections to allied sectors and its role in providing employment, rather than treating it as only a housing or construction business. The remarks were reported by Hindustan Times.
Reddy also urged policy support and argued against blaming the whole industry for problems associated with individual developers. The report does not identify a specific government recognition mechanism or say that officials have agreed to his request.
How large is India’s real estate sector?
The available estimates do not provide a single, directly reconcilable figure. Hindustan Times says a CREDAI report released at NATCON projects a market value of about US$600 billion in 2025 and US$1 trillion by 2030. The report’s title and methodology are not specified in the coverage, so the 2025 figure should be treated as an attributed projection rather than an independently verified measurement.
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An earlier CREDAI–Colliers report, published in September 2025, gives a different estimate: approximately US$0.3 trillion in 2025, rising to US$1.0 trillion in 2030. It also estimates real estate’s share of GDP at 6–8% in 2025 and projects 12–14% by 2030. The available publications do not explain why the two 2025 market-size estimates differ, so they should not be blended or treated as equivalent measures.
A separate CREDAI–Liases Foras release reports ₹8.46 lakh crore in primary builder-market residential sales in 2025, up 16% year on year across 50 major cities. That is a measure of residential sales, not an overall valuation of the real estate sector.
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| Source and publication | Reported measure | Figure |
|---|---|---|
| CREDAI report, as described by Hindustan Times in 2026 | Real estate market value projection | About US$600 billion in 2025; US$1 trillion by 2030 |
| CREDAI–Colliers, September 2025 | Real estate market value estimate and projection | About US$0.3 trillion in 2025; US$1.0 trillion by 2030 |
| CREDAI–Colliers, September 2025 | Estimated and projected share of GDP | 6–8% in 2025; 12–14% by 2030 |
| CREDAI–Liases Foras, March 13, 2026 | Primary residential sales across 50 major cities | ₹8.46 lakh crore in 2025, up 16% year on year |
What does Reddy say causes apartment delivery delays?
Reddy said that delays can involve factors beyond a developer’s control, including the timing of approvals, occupation certificates and water or power connections. He told Hindustan Times: “Complaints about delays in apartment delivery are common, but there are several reasons behind them. Developers often do not receive approvals, occupation certificates, or water and power connections on time. All these factors affect project delivery, yet the developer is held responsible for the delay,” Reddy said.
This is Reddy’s account of possible contributors, not a finding that explains every delayed project. The report does not quantify how often each factor occurs or establish that it excuses a developer’s responsibility in a particular case.
Is the issue a shortage of construction workers or skilled workers?
Reddy’s emphasis is on skills and certification, not simply the number of workers. He called for more skilling, certification and employment opportunities, alongside greater recognition for construction occupations. The report says CREDAI is working with the National Skill Development Corporation and other organisations on construction skills and certification, but does not name a course or provide results.
Reddy described the visibility issue this way: “A worker should also have a visibility. I am a carpenter or electrician — there should be recognition. They are not paid well and the support from the government for skilling them is missing,” he said. He also said customers are willing to pay more for skilled labour, but the report supplies no survey or other measurement for that claim.
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Reddy linked industry status to professional pride, saying: “A developer should say, ‘I am a developer’ and should feel proud of it,” he said.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What is established—and what remains an argument?
The remarks make a case for government recognition based on economic links, employment and the workforce’s skills needs. The available coverage does not provide an independently verified employment total, an official endorsement of Reddy’s proposal or evidence that the government has changed its classification or policy. NATCON is CREDAI’s convention; the organization’s 2025 event page describes that gathering as its 23rd edition, held in Singapore on September 11–13, 2025, but it does not independently verify claims made about the 2026 convention.
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