Lalit Kumar Jain,President Credai
MUMBAI: Aiming to promote excellence and bring in global standards in real estate arena, developers apex body Credai has announced two major projects - an institute for research and professional studies and educational scholarships for needy students pursuing higher education.
The Credai Institute of Real Estate Research and professional Studies will be set up at Ahmedabad near a Kensville Golf and Country Club adjoining the renowned iCreare-the International Centre for Entrepreneurship and Technology.
Announcing the projects, Mr. Lalit Kumar Jain, National President of the apex body, said Mr Jaxay Shah, Vice President of Credai and Director of Savvy Infrastructures Ltd, has donated land for the Institute. Kumar Urban development Limited (KUL) headed by Mr Jain himself, has committed Rs. 1 crore for the Institute's building. Several other leading developers too expressed their support to the vcause of education, he said. The Credai institute, aiming at imparting world class education and research in real estate related subjects, will be functional from June 2014. It and will have tie-ups and affiliations with top International Institutes having expertise in real estate domain.
Credai has also announced the launch of an Educational Scholarship Scheme (ESS) for promoting higher education by offering scholarships to deserving students who are pursue full-time degree/post-graduate degree courses in Civil Engineering or Management Degrees related to Real Estate sector at any of the colleges or institutes recognized by the All India Council of Technical Education (AICTE). CREDAI has taken up the education initiative to encourage youth to play a major role in the nation building activities. Real Estate and construction industries support over 250 other industries and contribute 11% to the GDP, thus playing a pivotal role in the nation's economic development.
"It is the largest employer after agriculture. Hence, Credai has taken up the initiative to enhance skill sets and promote talent," Mr. Jain said.
The ESS will primarily target economically under privileged, but academically bright students and help them complete their professional education so that they can embark on a bright career path.
"Often bright students are forced to give up their education as their families cannot afford the expenses on higher education. ESS will help students break their families' generations old cycle of poverty and harness their talent to make them productive members of society," Mr. Jain said.
Credai will fund the seed capital or initial contribution for obtaining educational loans from banks.