The recent inauguration of SOUTH-CON 2024, organised by the Confederation of Real Estate Developers’ Associations of India (CREDAI) in Vijayawada, has emerged as a significant event for the real estate sector in southern India. Held on August 24, this two-day conference attracted key stakeholders from five southern states, emphasising the pressing need for sustainable urban development and collaborative innovation within the industry.
The Minister for Municipal Administration and Urban Development (MAUD) articulated the government’s commitment to the swift development of Amaravati, Andhra Pradesh’s capital, while ensuring that growth benefits are evenly distributed across all districts. This holistic approach aims to prevent resource concentration in specific areas, allowing the advantages of progress to be felt statewide. “Our objective extends beyond Amaravati; we are committed to ensuring equitable growth strategies that benefit every district,” he affirmed during his address, reflecting a vision for balanced development. The conference provided a platform for industry leaders to discuss sustainable construction practices, innovative technologies, and efficient project management strategies. The national president of CREDAI highlighted the necessity of such gatherings in shaping urban development’s future in Andhra Pradesh. He asserted, “These discussions equip our members with essential insights to adopt best practices for sustainability and operational efficiency,” showcasing the industry’s dedication to responsible development.
Amidst the positive discourse, challenges within the real estate sector were also highlighted, particularly regarding the current Goods and Services Tax (GST) framework. The CREDAI president raised concerns about the inability to claim input tax credits, which is disproportionately affecting smaller developers and escalating project costs. “The current GST structure significantly impacts smaller players who are already facing high operational costs,” he explained, urging a reconsideration of the definition of affordable housing. He advocated for raising the threshold from ₹45 lakh to ₹75 lakh to align with inflationary trends, making housing more accessible to a broader population segment. The Union Minister of State for Heavy Industries and Steel, present at the event, echoed these sentiments, reaffirming the government’s willingness to address stakeholder concerns. He stressed the importance of aligning real estate policies with sustainable development goals to secure a resilient future for urban centres across India.
As discussions at SOUTH-CON 2024 evolved, the focus shifted to the integration of sustainable technologies in urban planning. Amaravati is positioned as a case study for sustainable urbanisation, exemplifying Andhra Pradesh’s ambition to create smart, inclusive cities that harmonise economic growth with environmental stewardship. The insights shared during this conference are poised to influence not only Amaravati’s development strategies but also set a benchmark for urban development throughout southern India.
