The Confederation of Real Estate Developers Association of India (CREDAI) has set up its Youth Wing in Hyderabad with Jagannath Rao, managing director of Lotus Construction Co, as its Hyderabad city coordinator. In a chat with Express, he explains about the objectives of the youth wing and how it will contribute to improvement of the quality and standards in the realty and construction sector. Here are some excerpts of the interview:
What is the aim of CREDAI Youth Wing?
CREDAI Youth Wing has been formed to train and gear up the second-generation entrepreneurs in the realty and construction sector. All the prominent real estate firms and construction companies of today were set up by first-generation entrepreneurs and civil engineers who built these enterprises from scratch and contributed to the growth of the sector in India. They learnt everything on field practically. But the background and environment in which second-generation entrepreneurs have to work are different. The youth wing has been formed to make them ready for today’s challenges.
What challenges do young real estate developers face?
The real estate and construction sector has undergone a sea change. Volumes have increased greatly. Earlier it used to be mostly stand-alone apartments or commercial complexes. But today in the case of either variety of projects or volumes there is a huge increase. New construction technologies are emerging. Use of software has increased in the sector. Besides keeping themselves abreast of these advances, young builders also need to be aware of ground-level realities and problems.
How will the youth wing make young builders gear up for these challenges?
It will conduct regular training sessions, seminars and study tours. Focus will be on construction and management techniques. Young builders will be taught how to deal with problems at site, how to interact with government officials, how to win customers’ confidence and ensure quality. The youth wing members will regularly meet to share their knowledge and experience.
How many members has the wing now?
There 74 youth wing chapters in India with 11,500 members, 100 of them in Hyderabad.
How will the CREDAI Youth Wing contribute to the realty sector?
Ultimately it is consumers’ satisfaction which matters. Providing quality homes and properties at affordable prices to buyers and investors will be possible only by inculcating the best construction techniques and managerial expertise. The youth wing will impart to young builders this expertise. Besides, it is preparing specific plans for taking up skill development programmes for construction workers as it is the need of the hour.