New Delhi [India], January 5 : The National Real Estate Development Council (NAREDCO) said it will hold its general council meeting in Ayodhya. G Hari Babu, the president of the real estate industry body, said that the dates of the meeting will be finalised soon.
With the new Ram Temple, the city of Ayodhya is expected to see a massive facelift in terms of real estate infrastructure.
NAREDCO was established as an autonomous self-regulatory body in 1998 under the aegis of the Ministry of Housing and Urban Affairs.
NAREDCO's President said that its members will visit Ayodhya to see the infrastructure developments in the historic temple city.
"We would like to develop housing and commercial projects in Ayodhya," Hari Babu said.
Meanwhile, NAREDCO is set to host its 16th National Convention on February 2-3, 2024 in New Delhi.
Themed "The Changing Real Estate Landscape," the convention aims to bring together key stakeholders, including government officials, industry leaders, and investors, to gain insights into the dynamics of growth and transformation in India's real estate sector.
It will feature insightful discussions on government support, affordable housing, the impact of RERA, financing options, technology integration, and investment opportunities, along with a dedicated session on India Vision@2047.
"We look forward to fostering collaboration between the government and private sector stakeholders to ensure sustainability and pave the way for a thriving real estate industry that positively impacts the broader economy. Let us join hands to build a brighter future for India," Hari Babu said.
Niranjan Hiranandani, Chairman of NAREDCO, highlighted the convention's role as a catalyst for transforming India's real estate sector.
He mentioned that the event would focus on issues such as liquidity crises, stressed assets, and insolvency, while exploring policy reforms like the Rental Housing Policy and a commitment to net-zero goals. The importance of alternative financing through Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (INVITs) was also underscored.
Rajan Bandelkar, Vice Chairman of NAREDCO, emphasized the real estate sector's role as a crucial economic driver with a multiplier effect on employment and linkages with ancillary industries.
Bandelkar noted that the convention serves as a platform for networking, learning, and collaborative efforts, which are pivotal in unlocking India's urbanization potential.
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