MUMBAI: The apex body of developers in Mumbai has said it is lobbying hard with the finance ministry for relaxing certain norms. C Shekar Reddy, newly elected national president of CREDAI, said the apex body has been campaigning with the ministry and RBI for reducing the risk weightage given for funding the real estate projects.
The current negative approach is helping neither the banks nor developers, he said. "CREDAI will focus on educating the fellow developer community on developing green buildings, using non-conventional energy sources and water conservation. Recycling of water for flushing and gardening purposes should automatically be part of all new projects," Mr Reddy said.
On skill development, he said the industry would need close to 40 million skilled workers on an incremental basis in next ten years or so.
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