NAREDCO Vidarbha sets the trend for structured real estate development

Nagpur, September 26, 2022: The National Real Estate Development Council (NAREDCO) Vidarbha chapter commenced activities with the aim of ensuring transparency and accountability in real estate development in the region.

The NAREDCO Vidarbha chapter was inaugurated at a ceremony in Nagpur. The event saw Maharashtra’s Deputy CM Shri Devendra Fadnavis laud the formation of the Vidarbha chapter of NAREDCO, saying it would lead to transparency, accountability and make things easier for the home buyer across the Vidarbha region, just as in other parts of the country where RERA has brought in an environment of safe and secure real estate transactions.

“It should be the larger community which should be the focus of NAREDCO Vidarbha, and not just real estate as an industry,” added Fadnavis. Mentioning that Vidarbha real estate would gain from the Samruddhi Mahamarg, with logistics and warehousing becoming the next big thing, with expressway linkages to Goa, Hyderabad and Delhi making Vidarbha and Nagpur the centre-point in India’s economic growth story. “Expressways like the Samruddhi Mahamarg open up vistas of real estate development, including townships as also ‘sunrise sectors’ including logistics and data centres,” he added.

Earlier, NAREDCO President Rajan Bandelkar spoke about the change which NAREDCO Maharashtra had brought about, and how Devendra Fadnavis had played an important role in the initial stages of setting up MahaRERA. Lauding the contribution of Gautam Chatterjee, the former MahaRERA head, the NAREDCO National President said he hoped the same process would be emulated by the Vidarbha chapter, leading to real estate playing its role in accelerating economic growth.

Dr Niranjan Hiranandani, Vice Chairperson, NAREDCO said Vidarbha was poised for economic growth, with real estate being the driver. He pointed out that various issues relating to real estate faced different challenges, leading to delays, which needed resolution. Terming Tier 2 and Tier 3 cities as the next frontier which would drive economic growth, Dr Hiranandani said Devendra Fadnavis had done much for Maharashtra’s development.

Ghanshyam Dhokne who took over as the first President of the Vidarbha Unit said setting up of the NAREDCO Chapter had created high expectations from all stakeholders in Vidarbha, and he hoped the expectations would come true. “The aim of NAREDCO Vidarbha is to create a structured industry, which will result in economic growth of the region,” he concluded.