The Confederation of Real Estate Developers’ Associations of India (CREDAI) has entered into a strategic Memorandum of Understanding (MoU) with the National Skill Development Corporation (NSDC) and the Quality Council of India (QCI).
This landmark partnership is set to establish a robust framework for skill development, certification, and sustainable employment in one of India’s most labour-intensive sectors. The agreement, signed during CREDAI’s leadership transition ceremony, outlines a collaborative vision for equipping India’s real estate workforce with modern skills, while reinforcing national goals such as employment generation, green infrastructure development, and inclusive growth. The partnership will focus on aligning skilling programmes with industry demand, ensuring certification and quality assurance for trained professionals, and recognising prior learning to elevate existing workers within the sector.
Officials involved in the agreement emphasised that this initiative comes at a time when India’s real estate market is rapidly evolving due to rising demand for green buildings, stricter environmental norms, and greater regulatory transparency. The real estate sector, which employs over 50 million people directly and indirectly, stands to benefit greatly from a more structured approach to capacity building and workforce integration. The new CREDAI leadership has also presented a bold agenda aligned with the Government of India’s vision for a developed economy under the ‘Viksit Bharat’ mission. The organisation will establish a centralised data analytics unit in partnership with government agencies to support evidence-based policymaking, particularly in areas like affordable housing, reforestation efforts, and streamlining of approval systems. These measures aim to not only reduce project costs and timeframes but also make real estate operations more sustainable and investor-friendly.
As part of its knowledge initiatives, CREDAI also launched a comprehensive industry report in collaboration with Colliers, titled ‘Sustainability in Real Estate Towards a Greener Skyline’. The report delivers critical insights into the growing preference for green-certified spaces across India’s commercial and residential markets. Notably, 66% of India’s Grade A office stock is now green-certified, with cities like Hyderabad demonstrating 75% market penetration. The report anticipates 170–200 million sq ft of upcoming green-certified commercial developments by 2027, highlighting a ₹425 billion retrofitting opportunity in ageing office stock alone. Government policies such as the Energy Conservation Building Code (ECBC), tax incentives for sustainable developments, and adoption of LEED and GRIHA certifications are further accelerating the shift toward environmentally responsible real estate. With 80% of future demand projected to be for sustainable office spaces, the sector is poised to play a central role in meeting India’s net-zero ambitions by 2070.
Experts have acknowledged that the industry must rise to meet dual expectations — economic growth and ecological accountability. By investing in skilling, embracing sustainability standards, and integrating emerging construction technologies, the sector can create climate-resilient urban infrastructure and equitable employment pathways. The integration of these practices is expected to significantly reduce the carbon footprint of India’s built environment while uplifting millions of workers through formal employment opportunities. For over two decades, CREDAI has remained at the forefront of advocating transparency, regulatory reforms, and responsible urbanisation. With this new partnership and forward-looking roadmap, the organisation appears to be sharpening its focus on innovation and climate-conscious development, ensuring that the next wave of growth is not just expansive, but also inclusive and sustainable.
Also Read :
