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CREDAI president-elect G Ram Reddy is urging the Indian government to formally recognize real estate as a key contributor to economic growth and employment. His comments are an industry appeal—not evidence that the government has adopted a new classification or policy.
What recognition is Reddy seeking?
Speaking to Hindustan Times during CREDAI-NATCON 2026 in Kolkata, Reddy argued that real estate’s economic role extends beyond housing and construction. He pointed to the sector’s links with allied industries and its large workforce, and called for policy support that reflects those connections. The convention ran from October 2 to 4, 2026, and brought together developers, investors, policymakers and industry experts, according to Hindustan Times’ event report.
Reddy also urged developers to take pride in their work, saying, “A developer should say, ‘I am a developer’ and should feel proud of it.” His remarks present the case for recognition from the industry’s perspective; the interview does not cite an official government decision or independent employment total confirming the argument.
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What do the available figures say about the sector’s size?
The published estimates differ, and they should not be treated as one settled measurement. Hindustan Times reports that a CREDAI report released at NATCON projects a real-estate market of about US$600 billion in 2025 and US$1 trillion by 2030. The report title and methodology are not specified in the article.
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By contrast, CREDAI–Colliers’ September 2025 report estimates the sector at approximately US$0.3 trillion in 2025 and projects US$1.0 trillion in 2030. It also estimates real estate’s GDP share at 6–8% in 2025, rising to a projected 12–14% in 2030. The available publications do not explain why the 2025 market-size baselines differ, so the estimates cannot be reconciled here.
A separate measure offers context but is not an overall sector valuation: CREDAI–Liases Foras reported primary residential builder-market sales of ₹8.46 lakh crore in 2025, up 16% year on year across 50 major cities. Sales in that defined market are not interchangeable with the broader market-size estimates.
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What does Reddy say is behind apartment delivery delays?
Reddy said delays can involve factors beyond a developer’s control, including late 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.”
This is Reddy’s account of factors that may affect timelines, not a finding about every delayed project. The interview gives no figures showing how frequently each issue occurs or how much time it adds. His request to avoid blaming the whole industry for problems involving individual developers does not remove the need to assess responsibility in a particular project.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Is the issue a shortage of construction workers or skills?
Reddy framed the workforce challenge as a shortage of adequately skilled and certified workers rather than simply a lack of people. He called for more skilling, certification, employment opportunities and recognition for construction trades. As he put it: “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.”
The interview says CREDAI is working with the National Skill Development Corporation and other organisations on construction skills and certification, but does not name a particular course or provide enrolment or outcome figures. Reddy also said customers are willing to pay more for skilled labour; the report provides no survey or statistic to measure that claim.
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