The National Real Estate Development Council, often known as NAREDCO, was founded in 1998 by the Indian government’s Ministry of Housing and Urban Affairs. Now, NAREDCO is the nation’s top trade group for the real estate business. This group was created with the intention of bringing honesty and justice to the housing sector and giving everyone interested in real estate a forum to discuss possibilities and difficulties. They can cooperate to identify fixes for any issues that develop in the industry.

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NAREDCO’s aim is to improve the real estate industry’s building, construction, & marketing standards. It aids in the formulation of governmental fiscal policies and serves as a spur to the expansion of the Indian real estate market. National, State, & City Councils are included in NAREDCO’s organizational framework.

The councils make sure that the suggestions for public policy fully account for the actual situation on the ground. The City Councils deal with local and immediate matters, the State Councils with state-level issues, and the National Council with macro-level issues.

 

NAREDCO Important Statistics

NAREDCO	National Real Estate Development Council
Email Id	[email protected]
Official Site	http://www.naredco.in
Phone Number	+91-11-26191164
	+91-11-26100285
Address	First Floor, 8 Community Centre, East of Kailash, New Delhi – 110065

 

Purposes of NAREDCO

NAREDCO (National Real Estate Development Council) collaborates with the government and the real estate sector through advisory and consultative processes in order to foster the expansion of the sector in India.

• Create an ethics code that marketers, builders, and developers must abide by.
• Increase the industry’s current standards.
• Create a system for an ombudsman.
• Use the NAREDCO-NHB rating system, CRISIL/ICRA, and other rating systems to keep track of how developers & their projects are rated.
• Create the National Institute of Real Estate Development (NIRED) to offer instruction, study, certification, and training.
• Create a database for the housing industry.
• Encourage ethical conduct in all real estate transactions.
• Engage in the creation of monetary and policy improvements for the country.
• assist in establishing REDCOs across the nation.
• amplify the real estate sector’s contribution to the country’s economic growth.
• Encourage collaboration between all businesses.
• drive the real estate industry’s expansion and development.
• Encourage the real estate sector’s efforts to safeguard customers, the environment, and quality.
• Plan conferences, meetings, workshops, and seminars to discuss various industry-related concerns.

 

State-based NAREDCO Chapters

State Real Estate Development Councils (REDCOs), also known as NAREDCO State Chapters, are organisations formed by NAREDCO in collaboration with the governments of each state. These clubs are essentially small versions of NAREDCO or work in a specific area of the state to help develop and enhance homes and neighbourhoods.

The organisation and its State Chapters want to inspire those who construct homes and other structures to do so in an ethical and just manner. Builders who construct homes or neighbourhoods can occasionally act unfairly, thus NAREDCO as well as its State Chapters seek to prevent it. The group and its state chapters, which include both government officials and those who construct homes and buildings, are able to quickly find solutions to issues.

Several state REDCOs in numerous states contribute to the improvement of neighbourhoods and homes through their activities. These are the states:

• Haryana
• Uttar Pradesh
• Maharashtra
• Telangana
• Karnataka
• Gujarat
• Andhra Pradesh
• Orissa
• Madhya Pradesh
• Rajasthan

 

How to Become a Member of NAREDCO

You must complete the application form & attach the Code of Ethics paper in order to join the organisation. You must also send the requisite payment, which should be made in the form of a bank draught or a check, to the Director General of NAREDCO at the specified address in addition to your submission.

 

Regulations for NAREDCO Membership and Eligibility

Its membership is open to all real estate firms as well as those engaged in related fields like land development, residential & commercial building, township development, real estate financing & marketing, architecture, the production and distribution of building materials, finance, and insurance. The following list of membership categories is available:

Founding Members:

Businesses that contribute a minimum of Rs. 10,00,000 to the founding of NAREDCO and pay a Rs. 1,000,000 yearly membership fees.

Patron Members:

Organizations that donate an initial sum of Rs. 7,50,000 to form NAREDCO and pay a Rs. 80,000 annual membership fees.

Regular Members:

Organizations with a revenue of up to Rs. 100 crore that make a Rs. 2,000,000 initial contribution to form NAREDCO and pay a Rs. 40,000 yearly membership fees. Businesses that donate an initial sum of Rs. 3,00,000 to the creation of NAREDCO and pay an annual membership fee of Rs. 60,000 are those having annual sales of more than Rs. 100 crores.

Associate Members:

Organizations engaged in the production & supply of building materials, plumbing, architecture, electrical work, and air conditioning, among other ancillary activities related to real estate development, are eligible to join NAREDCO as Associate Members for an initial contribution of Rs. 1,000,000 and an annual membership fee of Rs. 25,000.

State Members:

Organizations that operate in various facets of real estate development at the state level, such as State-REDCOs and NAREDCO branches, may become State Members by making an initial contribution of Rs. 1,000,000 to the development of NAREDCO & paying an annual membership fee of Rs. 20,000. Contact the coordinators of the appropriate state once the state REDCO or NAREDCO State chapter has been established if you want to join.

 

Advantages of Membership in NAREDCO

• numerous possibilities, including direct access to decision-makers
• Networking with significant firms in the real estate market.
• Maintaining tight relations with the government will enable collaboration on the formulation of economic and industrial policies.
• A forum to engage with other members, institutions, as well as state & central governments.
• the ability to take part in relevant conferences, meetings, training sessions, and seminars.
• the opportunity to take part in conferences, seminars, training sessions, and other events covering a range of themes.
• access to relevant data on the national & state levels of the real estate business.
• touch with governmental administrators & officials on a regular basis.
• the chance to influence the creation of national policies & objectives.

 

Conclusion: NAREDCO (National Real Estate Development Council)

By assembling professionals to assure the prompt and effective completion of projects, NAREDCO (National Real Estate Development Council) has played a crucial role in revolutionizing India’s real estate development industry. They have started a number of initiatives, such as workshops on sustainable development, developer training, and funding for investors and developers. In order to encourage the use of sustainable materials & technologies in projects, it has also helped to design legislation and regulations.

NAREDCO India has contributed to the expansion and transformation of the real estate development industry in India by advancing sustainable development, generating employment, and fostering economic progress.

 

 

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