NAREDCO announces Change of Guard
Dr Niranjan Hiranandani, founder-chairman, Hiranandani Group, and CMD, Hiranandani Communities, has taken over as the newly-elected national president of NAREDCO. “These are challenging times for the industry, which is coming to terms with working in a new regulatory regime. I am overwhelmed by the trust and confidence reposed in me by NAREDCO, and shall strive to ensure that we fulfill the aims and objectives of NAREDCO,” he said.
Given that NAREDCO strives to be the collective force influencing and shaping the real estate industry, Dr Hiranandani said that he seeks to ensure that it remains the leading advocate of developing standards for efficient, effective, and ethical real estate business practices, valued by all stakeholders of the real estate sector, and viewed by them as crucial to their success. “As national president, NAREDCO, I will ensure that we all work together as a team, to create and sustain an environment conducive to the growth of the real estate industry in India, through the public-private partnership (PPP) route,” said Dr Hiranandani, post an announcement – regarding the new PPP policy to promote private investments in affordable housing – by Union Minister of State with an independent Ministry of Housing and Urban Affairs Hardeep Singh Puri. This will allow the centre extending additional assistance of upto Rs 2.50 lakh per house to be built by private builders even on private lands in urban areas.
“The new paradigm reforms are something that will enable achievements which will boost Indian real estate. Given that it is one of major contributors to India’s economic growth, we would like to ensure it contributes more in years to come, under the new regulatory regime. Real estate should remain labour intensive, so that it continues to generate skilled as also unskilled employment, and also supports growth in 267 related and intermediary industries like steel, cement, floor cladding, furnishing etc., to ensure further growth,” he added.
On challenges facing the industry at the national level, Dr Hiranandani said he would work to rewrite the success story of real estate. “NAREDCO will work to help redefine the parameters of Indian real estate, given the transformation and reformatory steps taken by the Narendra Modi Government. I believe in the ambitious vision of ‘Housing for All by 2022’, and will work towards ensuring that NAREDCO provides support and aligns with this mission,” he said, adding that his focus would be on ensuring a better scenario for all stakeholders as also encouraging cohesive working between developers, bureaucrats and the Government.
His focus will include rationalising processes so that permissions and clearances for projects are received within set timelines, to improve business viability in light of high land cost, to build capabilities for delivery of projects on time and also focus on more green building projects.