National, 18th April 2025 – India’s leading Real Estate Body, Confederation of Real Estate Developers Association of India (CREDAI) signed a Memorandum of Understanding (MoU) with the National Skill Development Corporation (NSDC) and the Quality Council of India (QCI) to establish a collaborative framework for skill training, capacity building, and worker certification in the construction and real estate sector. The MoU was signed at the landmark occasion of CREDAI’s change of guard ceremony which witnessed Mr. Shekhar G Patel becoming the new president of CREDAI for the term 2025-27.
Under the partnership, all parties pledge to enhance workforce development in the real estate sector through a structured focus on skill development, capacity building, and sustainable employment. The collaboration aims to deliver industry-aligned training programs with quality assurance through certification, support Recognition of Prior Learning (RPL) to validate existing skills, and drive workforce integration by promoting job placements and modern construction practices including green building techniques.
In his inaugural address, Mr. Shekhar G Patel also laid out a 5-point agenda, integrating CREDAI and all its chapters in a unified mission for Viksit Bharat that emphasizes large-scale skilling of workers, fostering data-driven decision-making through a dedicated analytics centre in collaboration with central and state governments, leading impactful reforestation efforts starting with the Western Ghats, redefining affordable housing with practical policy alignment, and improving ease of doing business by streamlining approvals and reducing costs. Together, these initiatives aim to build a stronger, more sustainable, and inclusive real estate ecosystem aligned with India’s long-term growth goals.
“Empowering the workforce with industry-relevant skills is paramount to enhancing productivity, improving quality and maintaining global standards. Through our collaboration with NSDC and QCI, we aim to create a robust ecosystem for talent development, ensuring that India’s real estate sector remains competitive and future-ready,” said Mr. Shekhar G Patel, President, CREDAI .
During the ceremony, CREDAI launched a comprehensive industry report in collaboration with Colliers titled ‘Sustainability in Real Estate: Towards a Greener Skyline’ that provides critical insights into the future of green real estate in India. The report highlights India’s path to green growth and development and a shift towards net-zero buildings. According to the report, 66% of India’s Grade A office stock is now green certified with cities like Hyderabad leading at 75% penetration. The industrial and logistics sector is also embracing sustainability.
The report further underscores a ₹425+ billion retrofitting opportunity for aging office spaces and forecasts 170–200 mn sq ft of upcoming, green-certified commercial supply by 2027. Government initiatives such as the Energy Conservation Building Code (ECBC) and tax rebates for sustainable projects are accelerating adoption, while corporates prioritize LEED and GRIHA certifications to meet ESG goals. With 80% of future office demand expected in green spaces and rising consumer preference for eco-friendly homes, India’s real estate sector is poised to drive the nation’s 2070 net-zero target through innovation, policy alignment, and stakeholder collaboration.
“The real estate sector stands at the forefront of India’s sustainability journey. As we accelerate towards our national climate goals, embracing green buildings is not just a necessity—it is a responsibility. This report reinforces the critical role our industry plays in shaping low-carbon, resilient urban landscapes. By fostering innovation, encouraging adoption of green certifications, and promoting environmentally responsible construction, we are paving the way for a future where growth and sustainability go hand in hand”, said Mr. Shekhar G Patel, President, CREDAI.
“For over 25 years, CREDAI has been the cornerstone of India’s real estate evolution advocating industry reforms, fostering transparency, and setting new benchmarks in quality and sustainable development. As we move forward, our focus will be on reinforcing CREDAI’s role as a catalyst for innovation and responsible urbanization while upholding the interests of developers and homebuyers alike. With Shekhar at the helm, I am confident that CREDAI will not only continue its legacy but also spearhead initiatives that redefine the industry’s contribution to India’s economic and environmental goals.” opined Mr. Boman Irani, Chairman, CREDAI.
With a strong leadership team, strategic collaborations, and a vision for sustainable development, CREDAI remains at the forefront of driving the transformation of India’s real estate landscape.
