Shekhar Patel, Managing Director of Ganesh Housing Corporation Ltd and former Chairman of CREDAI Gujarat, has officially assumed the position of National President of the Confederation of Real Estate Developers' Associations of India (CREDAI). Patel assumed the position during the 'The Big Shift - Change of Guard Ceremony 2025', held in Gandhinagar, Gujarat, in the presence of Chief Minister Bhupendra Patel and other notable dignitaries.
He succeeds Boman Irani, Chairman and Managing Director of Rustomjee Group (Keystone Realtors), who will now serve as Chairman of CREDAI National. Representing over 13,000 developers across 221 city chapters in 21 states, CREDAI is crucial in shaping India's real estate landscape.
In his first address as National President, Shekhar Patel emphasised redefining affordable housing as a top priority. "The current cap of Rs 45 lakh is outdated and should be revised annually in line with inflation," he said. Patel proposed increasing the cap to Rs 75–80 lakh in the present scenario, citing that while units of 60 sq meters and 90 sq meters are still being constructed, their market prices have exceeded the current threshold. "CREDAI will run a campaign to redefine this cap. This will ease the burden on customers, as they would pay only 1 per cent GST instead of 5 per cent if a unit qualifies as affordable housing," he added.
Following Patel's announcement, Gujarat Chief Minister Bhupendra Patel lauded CREDAI's efforts toward sustainable development and encouraged the real estate sector to align with Prime Minister Narendra Modi's vision of making India a developed nation by 2047. "We can work towards rainwater harvesting, increase green cover by planting more trees, launch campaigns for sanitation, and promote natural farming as propagated by the Prime Minister," the CM said.
