NAREDCO Launches Delhi Chapter to Revitalize Real Estate Sector and Bridge Development Gaps

New Delhi, July 14, 2023: The National Real Estate Development Council (NAREDCO) has announced the launch of its Delhi chapter, aiming to uplift the real estate sector in the capital city, which has long been deprived of development due to various ceilings and restrictions. NAREDCO, the apex national body representing the real estate sector, recognizes the need for a nodal body to play a crucial role in taking the real estate industry of Delhi to the next level, particularly with the redevelopment of new habitats in the city. 

The NAREDCO Delhi Chapter has chosen industry leaders to spearhead the revitalization of the real estate sector. Harshvardhan Bansal, Director Unity Group, assumes the role of President, with PK Gupta, CMD of NBCC as Chairman, Vineet Kanwar Group Executive Director, DLF as Vice Chairman, and Gaurav Jain, MD, Samyak as President Elect. Together, they will prioritize transparency, advocate for policy reforms, and unlock the untapped potential of Delhi’s real estate market. 

“The inauguration of NAREDCO’s Delhi chapter marks a significant step towards bridging the gaps in the real estate sector of the city. Delhi has faced numerous ceilings and restrictions that have hindered its development. With this chapter, we aim to create a platform for collaboration and dialogue, fostering transparent business practices, and addressing the concerns of multiple stakeholders,” emphasized Mr. Rajan Bandelkar, National President, NAREDCO. 

He said “The upcoming chapter of NAREDCO Delhi will prioritize the implementation of schemes, with a particular emphasis on affordable housing, through the establishment of a land pooling policy which is long pending. This policy, in conjunction with a strategic master plan, will be instrumental to drive the development of real estate infrastructure and commercial sectors in Delhi” Acknowledging the pivotal role played by housing in attaining the Prime Minister’s vision of a 5 trillion economy, Mr Bandelkar further added , “NAREDCO is committed to bringing Delhi on par with other states where real estate and commercial growth is flourishing. This presents an opportune moment to focus on these initiatives and contribute to the overall progress and prosperity of the city” 

Mr. Parveen Jain, Chairman, NAREDCO, acknowledged the challenges faced by the real estate sector in Delhi and expressed his optimism about the chapter’s impact. “The launch of the NAREDCO Delhi chapter is an important milestone in our efforts to revitalize the real estate industry in the city. Despite the existing limitations, Delhi holds immense potential for growth and redevelopment. Through this chapter, we aim to work closely with local governing bodies and real estate players to overcome hurdles, promote transparent business practices, and unlock the true potential of Delhi’s real estate market.” 

NAREDCO currently has state chapters in Maharashtra, Telangana, Karnataka, Odisha, Madhya Pradesh, Uttar Pradesh, Gujarat, Andhra Pradesh, Jammu & Kashmir and Rajasthan. After the successful launch of the Delhi chapter, NAREDCO is also working towards establishing a chapter in Uttarakhand. 

The NAREDCO Delhi chapter will focus on building strong ties with local governing bodies and fostering collaboration with real estate players to ensure the interests of all stakeholders are addressed. It will actively advocate for policy reforms and work towards eliminating barriers that have hampered the growth of the real estate sector in the city. 

Inviting, real estate developers, builders, industry professionals, and stakeholders to actively participate and contribute to shaping the future of Delhi’s real estate industry, Mr Harsh Vardhan Bansal, the newly elected President of NAREDCO Delhi Chapter said “The Delhi chapter of NAREDCO will play a crucial role in bringing about positive changes in the real estate landscape of the city. We understand the importance of transparent business practices and intend to champion them in the best interests of multiple stakeholders. By collaborating closely with the government, industry experts, and other stakeholders, we aim to create an enabling environment that promotes sustainable growth and attracts investment in the real estate sector,” 

Welcoming the formation of Delhi Chapter, Mr Gaurav Jain, President Elect of Delhi Chapter of NAREDCO said, “The launch of the NAREDCO Delhi chapter is expected to facilitate the much-needed redevelopment and rejuvenation of the city’s real estate sector. By leveraging its extensive network and expertise, NAREDCO seeks to bridge the gaps, advocate for policy reforms, and ensure transparent business practices that benefit all stakeholders involved.”