The luxury residential sector in India has expanded significantly in recent years. Coupled with high economic growth, a key factor behind this is the increase in the number of HNIs and UHNIs, which has led to a high demand for luxury housing. At the same time, investors are also exhibiting a substantial interest in luxury real estate and prioritising capital appreciation, indicating a shift in ferencesbuyers’ preferences.
The National Real Estate Development Council (NAREDCO), the apex real estate body working under the aegis of the Ministry of Housing & Urban Affairs, Government of India, recently signed a Memorandum of Understanding (MoU) with the Fire and Security Association of India (FSAI) at Le Meridian, New Delhi, to collaborate on improving fire safety, life safety, and security standards in India's real estate sector.
Waterproofing is required when it starts falling on the roof and not when it starts leaking, therefore it’s a preventive action that will save the building not a reactive action,” said Samir Surlaker, Director, Assess Build Chem Private Limited. He was speaking at the first-ever National Waterproofers Conference & Exhibition 2024, organised by the Waterproofers Association of India (WAI) and Gurgaon, Haryana.
Real Estate in India: The Indian real estate market presents vast opportunities for foreign investors and HNIs, particularly in commercial and luxury residential sectors. Speaking with ETNOW.in, Ravi Reddy, President, NAREDCO-NextGen shares insights on the role of technology, opportunities, and vision for future real estate development, among others.
The National Real Estate Development Council (NAREDCO) has warmly welcomed Prime Minister Narendra Modi’s announcement of a significant boost to the Pradhan Mantri Awas Yojana (PMAY) on the occasion of the Modi Government’s completion of 100 days in office. This step marks a major milestone in India’s housing development, with Rs 32 crore digitally transferred to beneficiaries under PMAY-Gramin in Jharkhand, along with the distribution of sanction letters for 32,000 houses.
Realty developers’ body the National Real Estate Development Council (NAREDCO) has urged the government to resolve regulatory challenges that hinder real estate development in major cities like Mumbai, Chennai, and Kolkata.
In bid to help resolve the issue, the developers’ body has made certain recommendations that were discussed during a recent meeting with a Joint Working Group, which included an Expert Committee led by Fali Major, NAREDCO said in a release.
The National Real Estate Development Council (NAREDCO) Maharashtra, an apex body of real estate developers, has asked the Maharashtra government to allocate 5,000 slum redevelopment projects to the industry body.
In the recent debate between realty companies and tax authorities around the demand for Goods and Services Tax (GST) on transfer of leasehold land, the latter may have a stronger case.
GST authorities may be able to defend their recent notices, demanding 18 per cent GST on the transfer of leasehold land, according to experts. Of late, these notices have been sent to several companies, including the Gujarat Industrial Development Corporation.
G Hari Babu, President, National Real Estate Development Council (NAREDCO), said that the approval of 12 new industrial smart cities will open up opportunities for industrial as well as real estate investment, as these areas are likely to see a surge in interest from both businesses and homebuyers looking to benefit from the new industrial growth.
Most recently, the National Real Estate Development Council (NAREDCO) has welcomed the Union Cabinet's approval of the Pradhan Mantri Awas Yojana-Urban (PMAY-U) 2.0 scheme. With an investment of ₹10 lakh crore and a substantial government subsidy of ₹2.30 lakh crore, the PMAY-U 2.0 Scheme aims to facilitate the construction of one crore houses for urban poor and middle-class families over the next five years.
