National Real Estate Development Council

NAREDCO which stands for National Real Estate Development Council (NAREDCO) was established after the National Housing and Habitat policy was amended. It was formed with the backing of the Ministry of Housing and Urban Affairs, Government of India. The vision behind the formation of NAREDCO was to bring in transparency and ethics in the housing sector as well as have a platform where various stakeholders could discuss about the opportunities and problems faced the real estate sector and come up with quick resolutions when faced with an issue.

Objectives of NAREDCO

The objectives of NAREDCO are listed below:

• Prepare an ethics code which can be rolled out for developers, builders and marketing operators alike.
• Evolve the existing criteria laid down for the industry.
• Develop an ombudsman mechanism.
• With the help of the NAREDCO-NHB rating mechanism, keep an eye on the rating of developers and their projects through CRISIL/ ICRA.
• For the purpose of study, research, training and certification set up a National Institute of Real Estate Development (NIRED) centre.
• Put emphasis on the establishment of a data bank for the housing sector.
• Support different operations related to the real estate business on the basis of fair principles.
• Take part in the formulation of national policies as well as set the agenda for the development of the sector and fiscal reforms.
• Assist in the establishment of REDCOs in different parts of the country.
• Strengthen the role of the real estate sector for the economic development of the nation.
• Encourage co-operation among all enterprises.
• Drive the real estate sector towards growth and development.
• Support the efforts of the real estate industry when it comes to protection of quality, environment and the consumer.
• Organize meetings, seminars, workshops and conferences on various issues related to the sector.

Structure of NAREDCO

• Chief Patron – Hardeep Singh Puri, Minister of State (Independent charge), Ministry of Housing and Urban Affairs, Government of India
• Chairman – Rajeev Talwar, CEO of DLF Limited
• Vice Chairman – Parveen Jain, CMD, Tulip Infratech Private Limited
• President - Dr. Niranjan Hiranandani, Founder- Chairman, Hiranandani Group and CMD of Hiranandani Communities
• President Elect - R Chalapathi Rao, Managing Partner, Sirisampada Constructions
• Vice President (Central) - Ashok Patni, CEO of The Trading Corporation of Rajasthan and Vice President of Rajasthan State Real Estate Development Council
• Vice president (West) - Rajan N Bandelkar, Director, Unnathi Estate (Raunak Group)
• Joint Vice president (North) - Gaurav Jain, MD of SAMYAK Properties and Infrastructure Private Limited and Anil Suri, Chairman of Suri Infotech Private Limited (Governing Council Member)
• Vice president (South) - Prem Kumar Polavarupu, Chairman of Doyen Constructions Private Limited
• Vice President (East) - Manoj Kumar Tripathy, MD of Satyabadi Construction Private Limited and President of NAREDCO Odisha
• Member Finance - Rajesh Arora, Chairman of Arora and Associates Realty Limited
• Director General - Rajesh Goel