NAREDCO Vidarbha pioneers structured real estate development

The growth story begins with plaudits by Dy CM Shri Devendra Fadnavis

Stakeholders in the Vidarbha region have been thinking about structured real estate development from a holistic approach.

In keeping with this thought process, the Vidarbha chapter of the National Real Estate Development Council (NAREDCO) began activities with the goal of fostering openness and accountability in real estate development in the region.

The NAREDCO Vidarbha chapter was inaugurated at a glittering 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.

He added how Maharashtra Chief Minister Shri Eknath Shinde agreed on the importance of creating a favourable climate for real estate expansion because it reflects on economic growth and development.

“The focus of NAREDCO Vidarbha should be on the entire society, not just real estate as a business, he stressed. Mentioning that Vidarbha real estate would benefit from the Samruddhi Mahamarg, with logistics and warehousing becoming the next big thing, with expressway connections to Goa, Hyderabad, and Delhi positioning Vidarbha and Nagpur as the epicentre of India’s economic growth story. Expressways such as the Samruddhi Mahamarg open new vistas of real estate development, including townships, as well as’sunrise sectors’ such as logistics and data centres,”

Previously, NAREDCO President Rajan Bandelkar discussed the changes brought about by NAREDCO Maharashtra, and how Devendra Fadnavis was instrumental in the early phases of establishing MahaRERA.

The NAREDCO National President praised Gautam Chatterjee, the former MahaRERA head, and expressed confidence that the same procedure will be replicated by the Vidarbha chapter, resulting in real estate playing a role in speeding economic growth.

According to Dr. Niranjan Hiranandani, Vice Chairperson of NAREDCO, Vidarbha is set for economic expansion, with real estate driving the boom.

He stated that various real estate issues faced varied challenges, resulting in delays that needed to be resolved. Dr Hiranandani referred to Tier 2 and Tier 3 cities as the next frontier that would drive economic growth, and he emphasised how Devendra Fadnavis had done much for Maharashtra’s development, notably mentioning Nagpur’s youngest Mayor’s yeoman effort during his stint as chief minister.

He said that there were high expectations of him, and he hoped that this time he would ‘work his magic,’ resulting in economic progress for the state.
Shri Ghanshyam Dhokne, the first President of the Vidarbha Unit, stated that the establishment of the NAREDCO Chapter had raised expectations among all stakeholders in Vidarbha, which he hoped would be realised.

“The goal of NAREDCO Vidarbha is to develop a structured industry that would result in regional economic prosperity,”

he said.
This article was shared with Prittle Prattle News as a Press Release.
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