Bhubaneswar: The Confederation of Real Estate Developers’ Associations of India (CREDAI), Odisha has welcomed the Union Budget’s continued emphasis on infrastructure development, calling it a positive step for the real estate and construction sector.
Reacting to the budget, Vice-President of CREDAI National & President of CREDAI Odisha Swadesh Kumar Routray said that sustained investments in highways, metros, railways, logistics corridors and urban infrastructure will significantly improve connectivity, unlock new growth corridors, and strengthen long-term urban development across the country, including Odisha.
CREDAI Odisha also appreciated the government’s focus on ease of doing business, noting that faster approvals, simplified regulatory processes, and increased digitisation will help reduce project delays and holding costs, ultimately benefiting home buyers as well as developers. However, CREDAI expressed deep disappointment over the absence of any concrete measures for affordable housing in the budget.
With the current outdated definition of affordable housing, CREDAI estimates that the segment’s share may further decline from around 18% to nearly 12% of total housing supply. This is a serious concern for the lower middle class and middle-income families.
Swadesh Kumar Routray,
Vice-President of CREDAI National & President of CREDAI Odisha
He emphasised that affordable housing should not be viewed as a welfare initiative alone. “Affordable housing is economic infrastructure. It generates large-scale employment, boosts consumption, and ensures social stability. Rising construction costs and land prices, without adequate policy support, are steadily pushing developers away from this critical segment,” he added.
CREDAI warned that a continued weakening of affordable housing supply could lead to higher rental costs, longer commuting distances and the unchecked growth of informal housing in urban areas.
CREDAI Odisha urged the Government of India to take urgent policy measures to revive and support affordable housing, ensuring inclusive and sustainable urban growth while addressing the genuine housing needs of India’s growing urban population.