NextGen Realty Developers to decarbonize Construction and Housing with Modern means of Tech & Finances: Naredco NextGen Pres.

New Delhi, February 3, 2024: The newly elected President of the NextGen (Next Generation of Real Estate Developers) launched under the aegis of NAREDCO, Ravi Reddy, on Saturday, claimed that the platform would move with the commitment of Prime Minister Modi’s vision of AMRITKAL 2047 and make a beginning to build a new India by carrying out disruptive real estate activities in Tier II & Tier III Townships. He was speaking at the 2 days 16th Naredco National Convention held here.

According to him, the NextGen Real Estate developer would not be a replica of NAREDCO in its entirety, but it would work with an independent mindset in which young entrepreneurs of all hues would be stakeholders without inheriting real estate in their DNA, though the approach of the new initiative would be traditional to some extent, added Reddy.

“With the aforementioned approach and mindset, the new generation of real estate developers intends to shape the New India for a win-win situation for all stakeholders involved in the exercise, as per the Prime Minister’s vision, which aims at ensuring quality housing for all,” added Ravi Reddy, President of the NextGen (Next Generation of Real Estate Developers) NAREDCO.

According to Reddy, as real estate assets become more and more expensive and going forward becomes a tedious job, overcoming this phenomenon involves the participation of technology and enlisting the participation of fractional ownership, which will be critical in the future. Therefore, the approach would be to work in unison, where the pool of talent would be of age less than 50.

Another milestone in the approach would be ensuring REITS participation through their smaller forms so that a pool of capital is generated for funding future real estate activities, in addition to institutional finances to fund and partially finance the take-off of such projects.

So the next generation of NAREDCO and real estate will focus on building that gap where we become one with the world, where an institutional fund sitting even in Norway, let’s say, can, in a tier 2 or tier 3 city, project which is able to look through its lens that project and which is adhering to its ethos and still bring that capital into this project. So ultimately to create this kind of environment. An exhaustive report was also launched at the 16th NAREDCO Convention on Nextgen Real Estate developers, the focus of which was to seek the way forward for housing, particularly in the affordable housing segment, so that housing remains a reality of the day in the future.