New Delhi, Aug 26 National Real Estate Development Council (NAREDCO) celebrated its 25th Silver Jubilee Foundation Day in Hyderabad on Saturday, gathering prominent figures, policymakers, industry leaders and real estate experts.
During the event, a collaborative report titled 'Vision 2047' was unveiled by NAREDCO and Knight Frank. This report provided insightful inputs concerning the real estate industry.
Former Vice President M Venkaiah Naidu, addressing the audience, emphasised the importance of prioritising the creation of affordable, healthy, and joyful housing, incorporating excellent architectural elements.
He inaugurated the event and called upon real estate and infrastructure developers to ensure adequate provision of air, sunlight, and water in housing projects. This, he believed, would lead to content and satisfied residents.
Naidu underlined the pivotal role of happy, affordable, and healthy housing as the foundation for the growth of the country's real estate and infrastructure sectors.
He stressed that neglecting these essential housing aspects would hinder the intended progress of these sectors.
Naidu urged real estate investors to choose projects that provide modern amenities and vital elements like clean air, sunlight, and water, preventing any future regrets.
He also advised meticulous planning to avoid encroachments during project development and cautioned against disturbing nature, citing the significant threats posed by the current global climate situation.
He highlighted that tampering with nature during such projects could lead to disastrous consequences, especially considering the serious threats that the current natural climate poses to mankind both in India and around the world.
Vemula Prashanth Reddy, the Minister of Roads, Building, Legislative Affairs & Housing for the Telangana Government, encouraged investors not only to put their resources into real estate and infrastructure within Hyderabad and Telangana but also into areas like irrigation and agriculture.
He assured that the government would grant all necessary approvals for such projects within a 21-day timeframe.
During his presidential address, Rajan Bandelkar, President of NAREDCO, expressed confidence that the real estate and infrastructure sector's contribution to the national GDP would substantially rise beyond the current 7 per cent over the next years, given its potential.
Bandelkar also conveyed optimism that governmental policies, including those from the central government, would actively bolster the growth of these sectors.
NAREDCO's Vice Chairman, Niranjan Hiranandani, who also addressed the gathering, stressed on the pivotal role of real estate and infrastructure in driving the country's progress and lowering unemployment.
He urged all stakeholders, encompassing government, private, and public sectors, to collaborate towards achieving zero unemployment and fostering exponential growth in real estate and housing.
Among other esteemed guests present at the event were Hari Babu, the current President-elect of NAREDCO, and M
Prem Kumar, Vice President of South NAREDCO, both expressing their positive outlook for the remarkable expansion of real estate and housing sectors in the forthcoming years.
The Vision 2047 report has projected that India's real estate industry could reach a value of USD 5.8 trillion by 2047.
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