SOUTHCON 2011 – WORKING TOGETHER FOR REAL ESTATE SUCCESS

SOUTHCON 2011 – WORKING TOGETHER FOR REAL ESTATE SUCCESS

February 2011 was a landmark month for CREDAI Karnataka, as we played host to SOUTHCON 2011, South India’s first real estate development conference on 4th and 5th February in Bangalore. As Mr. Sushil Mantri, President CREDAI Karnataka put it, the Indian real estate sector is one of the key drivers of economic growth and is poised for unprecedented growth and development today and at this critical juncture, it is important for developers to come together and share ideas and best practices and discuss key issues facing the industry. SOUTHCON 2011 was our first attempt at providing a regional platform for constructive communication.

The conference saw stalwarts from the industry address challenges, share best practices and recommend the conceptualisation and implementation of several schemes in association with the central and state governments to address key issues.

As the conference progressed, shortage of skilled labour was recognized as being the most critical issue affecting the sector today. SOUTHCON 2011 emphasised the need for effective training programs for construction workers as well as the need to work at a national level to bring recognition and a sense of identity for the worker community that is largely migrant. CREDAI has already initiated some strategies to address this issue, for example CREDAI is in talks with the UID program to enrol construction workers in the same. Also, CREDAI has an agreement with the National Skill Development Corporation to train construction workers in Pune which can be availed of by CREDAI members in other states as well. Panelists strongly urged CREDAI to work with the government to utilise the labour cess paid in every state for the benefit and training of construction workers. It was also recommended that CREDAI work closely with the central government to channelize some funds from the National Rural Employment Guarantee Scheme for the real estate sector which would guarantee workers a basic minimum wage.

Panelists from the four Southern states discussed the various approval and sanction processes in each state and the work done by the local CREDAI chapters to eliminate unnecessary delays, and improve efficiency of day to day operations. SOUTHCON 2011 also emphasised the need for developers to adopt modern technology and products already available in Western countries. Speakers at SOUTCON 2011 also addressed the concerns of SMEs by emphasising efficient back end processes such as ERP systems, effective cash flow management strategies, and marketing strategies which are key factors in ensuring project success and creating a positive image for the company as well as the sector at large.

SOUTHCON 2011 was a phenomenal success with participation of over 650 delegates from Karnataka, Andhra Pradesh, Kerala and Tamil Nadu. SOUTHCON 2011 – A ‘Working Together’ conference was successful in building a momentum that can only benefit the industry and economy as a whole. The best practices shared by member states and recommendations made by panelists will be taken up by CREDAI to not just help members improve efficiencies but also help streamline procedures by working closely with state and central governments.