Union Housing Minister Manohar Lal Khattar Graces 17th NAR India Annual Convention

New Delhi, March 21, 2025: The 17th NAR-India Annual Convention, hosted by NAR-India, commenced on a grand note with the esteemed presence of Union Minister of Housing and Urban Affairs Manohar Lal Khattar. Held at JW Marriott, Aerocity, New Delhi, the prestigious event brought together policymakers, industry leaders, real estate professionals, and thought leaders from across the country to deliberate on the future of Indian real estate.

Khattar, alongside other distinguished dignitaries, inaugurated the event by lighting the ceremonial lamp, marking the beginning of an insightful convention dedicated to shaping the growth trajectory of the real estate sector in India. Addressing the audience on the occasion of World Real Estate Day, Khattar congratulated NAR-India and the entire real estate fraternity for their contributions to nation-building. He remarked, “Today, it gives me immense pleasure to witness the real estate sector’s growing importance in our country. As our Prime Minister envisions India as a developed nation by 2047, one of the most crucial factors in achieving this goal is strengthening our economic position, and the real estate industry plays a significant role in this endeavor.”

He highlighted that the real estate sector contributes approximately 18 per cent to India’s GDP, underscoring its pivotal role in economic development. “If we succeed in further expanding this sector, its valuation could reach an estimated INR 85 lakh crore by 2030,” he stated. Emphasizing the need for innovation and global best practices, Khattar added, “Although we are already utilizing advanced technologies and modern equipment, there is a continuous need for improvement and adaptation to global innovations.”

The minister also spoke about the Government of India’s ongoing initiatives to promote urban development, citing the ‘Smart City Project ’ as a prime example. “Under the Smart City initiative, digital services have been introduced in 100 cities through approximately 7,500 new projects. Many of these have been completed, and the remaining will be finalized within the next six months,” he informed the audience.

Further elaborating on the role of the real estate sector, Khattar emphasized the importance of inclusive growth involving land aggregators, farmers, and other stakeholders. He said, “Development in this industry will not only strengthen our economy but also generate significant employment opportunities across various sectors.”

The convention spotlighted crucial reforms and emerging trends shaping Indian real estate, with engaging discussions on the Real Estate (Regulation and Development) Act (RERA), the proposed One Nation, One Licence system for brokers, and the growing emphasis on certification and training for real estate professionals. Experts underscored the importance of structured education, ethical practices, and regulatory knowledge to meet the evolving demands of the sector.

The 17th NAR-India Annual Convention served as a robust platform for meaningful dialogue and collaboration, reaffirming NAR-India’s commitment to advancing the real estate profession in India. With active participation from leaders and policymakers, the event paved the way for a progressive roadmap for the future of Indian real estate.