National Real Estate Development Council (NAREDCO)
Real estate body NAREDCO recently said it plans to organise a builders’ conference in Ayodhya to tap its commercial and residential opportunities.
About the National Real Estate Development Council (NAREDCO):
- It was established in 1998 under the Ministry of Housing and Urban Affairs of the Government of India.
- It is the leading industry association for the real estate sector in the country.
- Its primary objective is to provide a legitimate platform for the government, the real estate industry, and the general public to address their concerns and find effective solutions to the challenges faced by the real estate sector.
- NAREDCO’s mission is to improve the real estate industry’s building, construction, and marketing standards.
- It contributes to the development of national fiscal policies and acts as a catalyst for economic growth in the Indian real estate sector.
- All major national developers and public sector organisations in the fields of housing and real estate development, finance, and marketing are members of NAREDCO.
- Structure:
- The organisational structure of NAREDCO includes National, State, and City Councils.
- The councils ensure that the policy recommendations accurately reflect the real conditions on the ground and cover the entire geography.
- The National Council focuses on macro-level issues, the State Councils address state-level concerns, and the City Councils tackle local and on-ground issues.
- The Union Minister for Housing and Urban Affairs, Govt. of India, serves as the Chief Patron of NAREDCO.