Among the first steps taken is to enhance the presence of Government’s representatives on the Governing Board of NAREDCO. The larger representation of senior Government officials on NAREDCO’s Governing Council is aimed at establishing a better connect with the leaders of the sector, thereby facilitating a closer coordination in formulating policy and other initiatives.
NAREDCO has also announced that Navin Raheja has been elected as its Chairman and Sunil Mantri would be its new President. The announcements were made at the Annual General Meeting recently.
Navin Raheja, the newly appointed Chairman commented, “we are grateful to the Government and the Hon’ble Minister Dr. Girija Vyas for these steps. This will help establish a seamless channel of communication between government and the industry players. Not only will the industry find its voice in the formulation of policies and other initiatives, this will also help the industry to understand the compulsions and priorities of the government too”.
“Indeed, the real estate sector is facing severe challenges” said Sunil Mantri, President of NAREDCO. “The market conditions are tight. The liquidity crunch is getting worse and beginning to hurt every stakeholder, including the buyer. Also, there is a serious need for a better consistency and alignment in some of government’s policies”.
Sunil Mantri further shared that NAREDCO is working closely with the government on a number of vital issues. Enhancing liquidity into the sector is perhaps the most urgent challenge. “We want the government to grant us the industry status. The Union Government needs to take urgent steps to help us get single-window clearances for our projects across the country. There is an acute shortage of trained manpower in the sector. The real estate sector needs government support to upgrade technology. We are happy that the government is extending its full support in resolving all these issues” he concluded.
The Annual General Meeting of NAERDCO also witnessed a redrafting of key officials, governing council and advisory board. Navin Raheja Chairman Raheja Builders was elected as Chairman of NAREDCO and Sunil Mantri, CMD, Mantri Realty was elected as President of NAREDCO for a two-year term from2013 to 2015.
The government’s representation in Governing Board now consists of K.B.S Sidhu, Jt. Secy. (Housing), Ministry of Housing and Urban Poverty Alleviation, Sanjeev Kumar, Jt Secy (RAY) & Mission Director (JNNURM), Manoj Parida, Jt Secy Dept. of Consumer Affairs, Dr. Shailesh Kumar Agrawal, ED-BMTPC, S. K. Chaudhary, Sr. Executive Director, HUDCO and G. R. Krishna, Member Advisory Committee, Tirumala, Tirupati Devasthan. The industry representation in the Governing Board comprises of five Vice Presidents. The Vice Presidents are Rajeev Talwar, Group Director, DLF, Sudharshan Jhavar, Director, Devkrupa Realty (India) Pvt Ltd, Chalapathi Rao, Chief Convener, APREDCO, Rajan Bandelkar, irector, Unnathi Estates (Raunak Group), Parveen Jain, MD, Tulip Infrastructure. Rajesh Arora, MD, Arora and Associates Infradevelopers Pvt. Ltd. is a Member, Finance.
NAREDCO’s Advisory committee includes eminent names from the real estate sector, including Niranjan Hiranandani, MD, Hiranandani Constructions Pvt. Ltd., V. P. Baligar, CMD, HUDCO, Renu Karnad, MD, HDFC, Dr. P. S. Rana, Ex CMD, HUDCO, Rohtas Goel, CMD, Omaxe Ltd. and Brotin Banerjee, MD & CEO, Tata Housing Development Company Ltd.
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. 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 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. NAREDCO works to create and sustain an environment conducive to the growth of real estate industry in India, partnering industry and government alike through advisory and consultative processes.
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