NAREDCO – premier Indian promotion council for realty sector gets revitalized

It is true that the majority of Indians, not to speak of aliens, are well-versed with existence National Real Estate Development Council (NAREDCO) and its basic functions. Well, National Real Estate Development Council (NAREDCO), established under the auspices of Union Ministry of Housing & Urban Poverty Alleviation, functions as development & promotion council for housing, real estate & allied sectors in India. Now the same NAREDCO has got a new shape thanks to election of its new panel of members in an annual general meeting. The meeting took place in New Delhi, the Indian capital.

Now let’s concentrate on the latest development. Rohtas Goel, CMD, Omaxe Ltd has been again elected as the president of NAREDCO for the second consecutive time. It is to be noted, 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.

Rohtas 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 had its inception 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.

NAREDCO, in the last year, played an exceedingly significant role in restructuring debts of developers and making credit available at reasonable interest rates.