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. It is in this year that the Government of India redrafted the National Housing & Habitat Policy, giving due importance to the Housing and Real Estate sector, thereby declaring housing for all citizens by the year 2010. 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 real estate 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.
About – NAREDCO – KARNATAKA
Established and Registered under The Karnataka Societies Registration Act in the year 2014, NAREDCO – KARNATAKA, is an apex state level self-regulatory body, affiliated by NAREDCO. to represent all spheres of enterprises, engaged in various aspects of real estate and infrastructure development. These include land development, layouts, planning, construction of residential, commercial, industrial and institutional buildings / complexes, development of townships, provision of urban infrastructure (roads, electricity, agriculture, irrigation, drainage, sewerage, water- supply, public transport, tourism & heritage, telecommunication etc.) and social infrastructure (recreational, educational and medical facilities). The other allied fields includes architecture, town planning, supply of building materials, hardware & machineries, finance, insurance, marketing and brokerage and finance in infrastructure, real estate and other allied fields and to have a proper dialogue, between private sector and the State Govt., for solving the practical problems and to make government policies more effective and useful and result oriented.
Aims and Objectives
NAREDCO functions as Development & Promotion Council for housing & real estate sector in India. Its main objectives are:
- To promote excellence and high standards of operations based on just and equitable principles in transactions relating to various operations of real estate business including building, construction and marketing.
- To evolve criteria of real estate and construction industry and its various allied operations and to formulate a Code of Ethics for observance by all real estate developers, builders and marketing operators and to evolve a suitable ombudsman mechanism for investigating departures there from.
- Rating of developers and their projects through CRISIL/ ICRA supported by NAREDCO-NHB rating mechanism.
- Establishment of data bank, which will collect and circulate information on all matters connected with the real estate sector.
- To set up a National Institute of Real Estate Development (NIRED) as a center for studies, research, training and certification.
- Promotion and encouragement of co-operation among all enterprises dealing with and engaged in various aspects of real estate development.
- Participation in the formulation of national policies and agenda for real estate development and fiscal reforms.
- To organize meetings, symposia, workshops, seminars and conferences on issues relating to real estate, building construction and allied activities.
- To identify and strengthen industry’s role in the economic development of the country.
- To act as a catalyst in bringing about the growth and development of Indian Real Estate Industry.
- To create awareness and support industry’s efforts on quality, environment and consumer protection.
- To promote cooperation with counterpart organizations.