NAGPUR 24 SEPTEMBER 2022: Structured real estate development with a holistic perspective has been the thought process among stake holders in the Vidarbha region. In keeping with this thought process, the National Real Estate Development Council (NAREDCO) Vidarbha chapter commenced activities with the aim of ensuring transparency and accountability in real estate development in the region.
The NAREDCO Vidarbha chapter was inaugurated at a glittering ceremony in Nagpur on 24 September. The event saw Maharashtra’s Deputy CM Shri Devendra Fadnavis laud the formation of the Vidarbha chapter of NAREDCO, saying it would lead to transparency, accountability and make things easier for the home buyer across the Vidarbha region, just as in other parts of the country where RERA has brought in an environment of safe and secure real estate transactions.
He mentioned how the Maharashtra Chief Minister Shri Eknath Shinde was in agreement on the need to create a positive environment for real estate growth, as it reflects upon the economic growth and development. “It should be the larger community which should be the focus of NAREDCO Vidarbha, and not just real estate as an industry,” he added. Mentioning that Vidarbha real estate would gain from the Samruddhi Mahamarg, with logistics and warehousing becoming the next big thing, with expressway linkages to Goa, Hyderabad and Delhi making Vidarbha and Nagpur the centre-point in India’s economic growth story. “Expressways like the Samruddhi Mahamarg open up vistas of real estate development, including townships as also ‘sunrise sectors’ including logistics and data centres,” he added.
Earlier, NAREDCO President Rajan Bandelkar spoke about the change which NAREDCO Maharashtra had brought about, and how Devendra Fadnavis had played an important role in the initial stages of setting up MahaRERA. Lauding the contribution of Gautam Chatterjee, the former MahaRERA head, the NAREDCO National President said he hoped the same process would be emulated by the Vidarbha chapter, leading to real estate playing its role in accelerating economic growth.
Dr Niranjan Hiranandani, Vice Chairperson, NAREDCO said Vidarbha was poised for economic growth, with real estate being the driver. He pointed out that various issues relating to real estate were faced different challenges, leading to delays, which needed resolution. Terming Tier 2 and Tier 3 cities as the next frontier which would drive economic growth, Dr Hiranandani said Devendra Fadnavis had done much for Maharashtra’s development, he specifically mentioned how Nagpur’s youngest Mayor had done yeoman work during his tenure as chief minister. He added that there were high expectations from him, and that he hoped this time too, he would ‘work his magic’ leading to the state’s economic growth.
Shri Ghanshyam Dhokne who took over as the first President of the Vidarbha Unit said setting up of the NAREDCO Chapter had created high expectations from all stakeholders in Vidarbha, and he hoped the expectations would come true. “The aim of NAREDCO Vidarbha is to create a structured industry, which will result in economic growth of the region,” he concluded.
ABOUT NAREDCO: National Real Estate Development Council (NAREDCO) was established as an autonomous self-regulatory body in 1998 under the aegis of Ministry of Housing and Urban Poverty Alleviation, Government of India. It is in this year that the Government of India redrafted the National Housing & Habitat Policy, giving due importance to the Housing and Real Estate sector.On September 2013, a branch of NAREDCO was established in Mumbai, Maharashtra by the name NAREDCO WEST. The Vidarbha Chapter was inaugurated on 24 September 2022 in Nagpur.
The Indian housing and real estate sectors and the allied industries hailed the establishment of NAREDCO, as the apex national body for the real estate industry and visualized it as a single platform where Government, industry and public would discuss various problems and opportunities face to face which would result in speedy resolution of issues. It was formed with the mandate to induce transparency and ethics in real estate business and transform the unorganized Indian real estate sector into a matured and globally competitive business sector.
The National Real Estate Development Council strives to be the collective force influencing and shaping the real estate industry. It seeks to be the leading advocate of developing standards for efficient, effective, and ethical real estate business practices, valued by all stakeholders of real estate sector and viewed by them as crucial to their success.