NAREDCO developers sign MOUs worth Rs 18,900 cr with Jammu & Kashmir Govt

Jammu/New Delhi, December 27, 2021:  39 MOUs were inked between the NAREDCO developers and Government of Jammu & Kashmir on the lines of Real Estate Summit held at Jammu Convention Centre on December 27, 2021 organized by the Union Ministry of Housing and Urban Affairs, Government of Jammu & Kashmir and NAREDCO.

39 MoUs involving Rs. 18900 Crores were inked in residential, Commercial, Hospitality, Infrastructure, Finance, Film & Entertainment sectors.

Commenting on the signing of the MoU’s between the NARECO members and the state Government, Rajan Bandelkar, President, NAREDCO, said “signing of MoUs will help in exploring new development opportunities in untapped location which hold huge potential for future real estate development in terms of residential, commercial, hospitality and retail, warehousing, logistics, healthcare etc. This also reflects the enthusiasm of the state government to welcome developers for mutual and equitable growth“.

Dr Niranjan Hiranandani, Vice Chairman, NAREDCO elatedly sounded that, “It is truly a step in the right direction to explore an opportunity of development in co-operation with the Government for the deemed purpose. Incentivization by the central and state government will go a long way in accelerating the real estate growth in Jammu & Kashmir”.