New Delhi: CREDAI, the apex body of realtors, Thursday announced it would establish an institute for research and professional studies as well as provide scholarships to needy students pursuing higher education.
The CREDAI Institute of Real Estate Research and Professional Studies, to be set up in Ahmedabad, would impart world-class education and research in real estate related subjects, the association said in a statement.
The institute would be functional from June, 2014. It will have tie-ups and affiliations with top global institutes.
CREDAI President Lalit Kumar Jain said that Jaxay Shah, Vice President of CREDAI, has donated land for the Institute.
Kumar Urban development, headed by Lalit Jain, would give Rs one crore for the institute's building. Several other leading developers too expressed their support.
Besides this institute, CREDAI announced a scholarship scheme to students pursuing full-time degree/ post-graduate degree courses in civil engineering or management degrees related to realty sector in the All India Council of Technical Education (AICTE) recognised institutes.
The scholarship will be provided to economically under privileged, but academically bright students. CREDAI will fund the initial contribution for obtaining educational loans.
CREDAI said that it 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 percent 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," Jain said.
First Published: Thursday, August 16, 2012, 22:30