CREDAI West Bengal has welcomed the state government’s proposed reforms for the real estate sector, particularly the proposed Standard Operating Procedure (SOP) for building safety and regulatory compliance. The developers’ body has also sought an eight-month force majeure period, citing disruptions caused by the war, SIR, elections and the stop-work period imposed during the mandatory audit.
The mandatory audit was initiated following the collapse of a warehouse at Taratala in Kolkata in June. Construction activity on projects covered under the exercise was subsequently stopped pending scrutiny. Of the 706 projects identified for the audit, 595 have submitted applications, while 115 are yet to apply. So far, 204 projects have received clearance, 89 have received conditional approval and 26 have been found to have major violations.
CREDAI West Bengal president Sushil Mohta said the association welcomed the proposed SOP and had requested an eight-month extension for project approvals and completion validity. He also said that allowing time-bound undertakings for minor deviations could help construction activity resume while ensuring compliance with regulatory requirements.
The developers’ association has also supported strict action against illegal and unauthorised construction. CREDAI clarified that the 27 illegal projects recently flagged during the government’s special audit did not involve any of its members. The association said it did not admit non-compliant builders into its membership and supported measures against unauthorised construction.
CREDAI Kolkata’s immediate past president Sidharth Pansari said the drive against illegal construction could support genuine developers and help homebuyers make informed decisions before purchasing properties. Kolkata president Apurva Salarpuria said the government’s approach could help restart construction activity, benefiting the wider supply chain and workforce dependent on the sector while supporting investor confidence.
CREDAI reiterated that RERA compliance remains mandatory and advised homebuyers to verify developers’ credentials and purchase only properties registered under RERA.
According to CREDAI, the real estate sector attracts more than ₹20,000 crore in annual investment in West Bengal, contributes around ₹7,500 crore to the state exchequer, and supports the livelihoods of approximately 60 lakh people. The association described real estate as the state’s second-largest employer after agriculture.
CREDAI’s delegation had met Chief Minister Suvendu Adhikari, Urban Development and Municipal Affairs Minister Agnimitra Paul, Industries Minister Tapas Roy and senior officials at a government-convened conference in Kolkata on August 6
