Transparency Essential in realty sector to ensure its unhindered growth: Anand Kumar, Chairman, NCT of Delhi RERA

New Delhi, May 15, 2024: “Real estate sector is at the cusp of a giant leap and will contribute a whopping 15% to country’s GDP by 2050,” Mr. G Hari Babu, National President of NAREDCO said, while addressing the participants on the inaugural workshop at the 2nd Management Development Programme, “RERA & REAL ESTATE ESSENTIALS.” The 3 days real estate workshop is jointly organised by The National Real Estate Development Council (NAREDCO), under the aegis of the Ministry of Housing & Urban Affairs, and Delhi RERA.

Held under the banner of the National Institute of Real Estate Development (NIRED) the workshop aims to provide comprehensive training to the various stakeholders of the real estate industry. This 3-day workshop started on May 15 and will continue till May 17, 2024. It is being held at PHD House in Delhi.

G Hari Babu, National President of NAREDCO while emphasizing on the programme’s significance, stated, “With a current market valuation of 250 billion dollars, real estate sector is with the expected growth rate of 16-17% will almost contribute around 15% to the country’s GDP by 2050. Among other things this industry requires large number of trained professionals considering its size, time and value involved. This management development program is a step in that direction and reflects our dedication to cultivating talent and promoting excellence in the real estate domain. Through providing organizations, their employees, and professionals with the essential knowledge and skills required to excel in the current competitive landscape, we aim to catalyse sustainable growth and promote professionalism in the industry.”

On his part Anand Kumar, Chairman, NCT of Delhi RERA commented, “Real estate is a dynamic sector and the pace of change has only accelerated in the last few years and by imparting transparency to the sector, RERA has a big role to play in this. However, despite all the efforts, people are not aware of the provisions and guidelines of RERA. This workshop is a step in that direction. Further, we not only need to understand the gradually evolving landscape but also equip realty professionals with the right knowledge, foster professionalism and instil the culture of compliance among all stakeholders involved.”

“Real Estate and Construction sector is not only the second largest employer in the country but also contributes significantly to its GDP. In the last few years it has also witnessed rapid growth. Therefore, it is imperative to regularly impart comprehensive training and undertaking capacity building initiatives among the professionals engaged in real estate, construction, and infrastructure sectors. We are happy with the number of participants and the response from the fraternity,” says Harsh Bansal, President Delhi NAREDCO.

Vikas Wadhawan, CFO, RERA INDIA (Housing.com & PropTiger.com) while highlighting the importance of strategic collaboration said, “”As partners in progress, we are thrilled to join hands with the Delhi RERA and National Real Estate Development Council (NAREDCO) for the Management Development Program (MDP). This strategic collaboration marks a significant step towards enhancing the capabilities of stakeholders in the real estate sector to serve the customers better. Through this program, we aim to equip industry professionals with essential knowledge, skills, and tools required to navigate the dynamic landscape shaped by the Real Estate (Regulation and Development) Act, 2016 (RERA). This collaboration will share a vision of building a transparent ecosystem for promoting sustainable growth, customer trust, and innovation in the real estate sector.”

The 3-day workshop will feature interactive sessions led by industry experts, experienced professionals, government officials and cover crucial topics such as the overview of the real estate sector and salient features of RERA, registration and responsibilities of real estate agents, registration of projects in NCT of Delhi, responsibilities of promoters and allottees, and the complete application procedure including allotment letter & agreement for sale. Sessions will also be held on Green Building & Sustainability, Alternate assets, Realtech, funding and financing opportunities and RE Essentials. The workshop will provide insights into latest trends, best practices, and regulatory frameworks shaping the industry.

The program is being directed by CA. Vinay Thyagaraj and presented the overview of the 3 days workshop during the inaugural. The resource persons includes Manmeet Kadian, Joint Director – Legal, Delhi RERA;  Ankita Sood, Housing.com; Venket Rao, Founder, Intygrat Law offices; Kunal Behrani, CEO, Unity Group; Punit Agarwal, Senior Counsellor, CII – Indian Green Building Council; Alok Puri Associate Exec, Director, CBRE; Divya Agarwal, Vice President – Research, Knight Frank (India); Nitin Chandra, Director, CBRE; and Sonal Mehta, Sr. VP & Ms. Rekha Kedia, VP, Resurgent India Limited are among the notable speakers.