A major upheaval is to be expected in the real estate industry when the Real Estate Regulatory Agency (RERA) in enforced from May 1, 2016. In order to brainstorm the most avant-garde and unconventional ideas with this change, Harsh Jain, the state co-ordinator CREDAI Bengal Youth Wing and MD of the Arrjavv Group organised an event aptly called ‘Disrupt’.
Many prominent names from the realty sector of West Bengal, including the board of CREDAI Bengal, came forward together to welcome the opportunities in the sector. The event was divided into 5 sessions as follows:
Session 1: Power and Need of CSR
Moderated by Mudar Patherya,(owner, Trisys) this particular session discussed the current opportunity, status and the impact of CSR in India. Sushil Mohta, President, CREDAI Bengal & MD, Merlin, spoke about the need of having a professional team to handle all the CSR activities in every organisation. He also said that it’s important to organise health check-up camps and workshops to improve skills of the in-house labourers. Other eminent speakers in this session were Sanjay Jain, MD, Siddha Group, Pawan Agarwal, Director, N K Realtors and Rohit Singhania, Treasurer, CREDAI Bengal Youth Wing and Director, Empress Group. Also, CREDAI Bengal generously contributed Rs. 5 lakhs to the Institute of Child Health as a goodwill gesture towards CSR.
Session 2: Proposition of Tall Buildings
The second session put forward several new ideas and concepts regarding the construction of tall buildings. Some noteworthy ideas were a strong need for a life safety consultant as well as in built fire fighting systems. The major challenges to the construction of tall buildings are in the detailing and cost. Some crucial factors are wind velocity, plumbing, seismic joints, and the functioning of service floors and AC. All experts agreed that it would be detrimental to change the design midway.
Session 3: Facts about Realty Funding
In this particular session, the speakers posed the need for a much-sorted funding option for the real estate developments in Kolkata. Harsh Vardhan Patodia, VP, CREDAI National and MD, Unimark, Rajan Aggarwal, Senior VP, Xander Funds and Nidhi Jain, assistant GM, ICICI Bank, Construction, Realty and Funding Group, extensively talked about the upcoming paradigm shift in the realty business. Nidhi pointed out that better planning by the banks is essential for supporting the developers.
Session 4 & 5: Everything about Leading
These final two sessions were all about ‘Professionalising a family business’. CYW consists of second generation real estate developers and the strength and weaknesses of family business in today’s time was discussed by Prof V K Murti (S P Jain). At the end of all of it, the senior CREDAI members advised the young entrepreneurs in a fun way. Also, a book titled Disrupt was unveiled by CYW.
This was the first ever event in the eastern India organised by CREDAI Bengal, and CREST 2016 became the most talked about event for the week.