NAREDCO Elects New Panel of Members

December 28, 2009	(1 votes, average: 5 out of 5)  Loading ...
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National Real Estate Development Council (NAREDCO), elected its new panel of members in an annual general meeting, held last week in the Capital. NAREDCO, an regulatory body established under the aegis of Union Ministry of Housing and Urban Poverty Alleviation claims to be committed to work for the development and promotion council for housing, real estate and allied sectors in India.

Rohtas Goel, CMD, Omaxe Ltd has been once again elected as the president of NAREDCO for the second consecutive time. During his last tenure, he undertook initiatives to extend the NAREDCO family in the states of Haryana and Punjab and in the closing run to mark footsteps in Karnataka, Andhra Pradesh and Madhya Pradesh.

With the economic slump in motion, NAREDCO also played a key role in restructuring debts of developers and making credit available at reasonable interest rates. The apex body also took initiative to make easy credit available to home buyers, especially in the range of Rs 5 lakh - 20 lakh at a reduced rate through RBI and banking system. Addressing the newly elected committee Goel said that, “With a vision to build real estate as the most promising sector, we are committed to carry forward the objective with which NAREDCO was formed a decade ago.”

The organisation is said to have taken a constructive initiative for providing fiscal concession to developers for undertaking affordable housing at reasonable prices. NAREDCO under the vision of Goel is also a key player in providing inputs to the guidelines of Rajiv Aawas Yozna and regulatory bills and today is an active member to all significant government committees. NAREDCO’s debate on affordable housing have gained national acceptance and various state governments have initiated action towards the roadmap.

Goel is elected president of NAREDCO for next two years term. Sanjeev Srivastava, MD, Assotech Ltd is elected as senior vice president, while K J Arora, CMD, Arora and Associates Realty Ltd, is elected as member finance, amongst various other positions. The new office bearers promised to work in synergy for the growth of the real estate sector and NAREDCO.

NAREDCO, was established in the year 1998 under the aegis of Union Ministry of Housing and Urban Poverty Alleviation (previously Ministry of Urban Employment and Poverty Alleviation), Government of India for the development and promotion of housing & real estate sector in India. As the nodal agency for housing and real estate sector in India, NAREDCO’s activity ranges from legislative , legal and regulatory issues to commercial issues in the realty sector.

News Published Under:   Real Estate India |

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