Lalitkumar Jain,chairman and managing director of Kumar Urban Development Limited (KUL) has been elected as the new president of the Confederation of Real Estate Developers Associations (CREDAI). Jain who was earlier on the Vice-President of CREDAI (West) has been associated with CREDAI ever since its inception. He was also the secretary and president of the Promoters Builders Association of Poona (PBAP),said a press release.