Shri Sandeep Runwal, President of NAREDCO Maharashtra, says, “We’re delighted to be associated with Riteish and Genelia for our Homethon Property Expo. While they are a true embodiment of the culture of Maharashtra, they also perfectly represent the home buyers’ profile of today in all terms. Since we are committed to providing exceptional and unparalleled experiences that align with changing consumer preferences, we are confident that our collaboration with them will strengthen our efforts to provide even more value to our customers. The upcoming festive property expo is an excellent opportunity for fence-sitters to convert into actual home-buyers as the property market is on an upward trend.’’

He added, “With the Jio Convention Centre, we have selected one of the best and most glorious event venues for the exhibition. It serves as a perfect backdrop for an event of this magnitude and provides 1 Lakh Square Feet of pavilion space for the top real estate developers to showcase the best and most premium real estate projects in the state. As a result, it’s a win-win situation for both participants and consumers.”

The gorgeous actor-producer-entrepreneur Genelia D’Souza says that she is excited to be a part of the event. She said, “If you are looking for a home, Homethon will make your search much, much easier. Make sure you are there between 30th September and 2nd October and don’t forget to register today on www.homethon.com for early benefits.”

Actor-producer-entrepreneur Riteish Deshmukh, who is known to bring a smile wherever he goes, seconds his wife about Homethon as a place where prospective homeowners can find the home of their dreams. He adds, “Here you could meet 150+ developers, check 1000+ properties and have access to numerous schemes and discounts.”

The Homethon Property expo will be a golden opportunity for channel partners where Special Incentives will be provided for closing deals at the Exhibition. The expo, which is expected to be the country’s largest exhibition, will also include a business lounge, a conference area and a networking centre, where attendees can interact with industry veterans and stalwarts. To ease the commute, transportation from key locations in Mumbai to the exhibition venue will be made available. For the visitors, there will be free entry, no parking charges and will get ample opportunities to win lucky draw prizes.

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Mumbai, 21^st December 2021: In a big move, Brihanmumbai Developers Association (BDA) and Central Mumbai developers’ Welfare Association (CMDWA) consolidate with NAREDCO Maharashtra.

National Real Estate Development Council (NAREDCO) a self-regulatory body formed under the aegis of the Ministry of Housing and Urban Affairs (MoHUA), Govt of India. It opened its state chapter in November 2015 under the leadership of founder and first president Dr. Niranjan Hiranandani.

Commenting on the occasion, Sandeep Runwal, President, NAREDCO-Maharashtra and Managing Director, Runwal Group, said, “We welcome BDA and CMDWA, 2 very strong developers associations to the NAREDCO organisation. We are honoured by the current recognition that NAREDCO is receiving among the developers.”

BDA and CMDWA have a combined membership of Over 750 Developers who are implementing housing projects under Development Control Regulation (DCR) 33-7, 33-5 & 33-9. These include cessed and non-cessed buildings including MHADA and estate lease hold lands.

With the joining of these two bodies, NAREDCO Maharashtra will now have over 4000 developers as its members to create the strongest and the most trusted developers governing body in the MMR region.

Speaking on the collaboration, Founder and Vice President, BDA, Harrish Kumar Jain said, “We are extremely delighted to associate with the most trusted entity in the real estate fraternity. With the same zeal and confidence, we ensure to build a platform that would create a win-win situation for both developer bodies and the potential homebuyers across the state.”

CMDWA under its Founder President & MD, PrinceCare Realty, Dharmesh Chheda claims credit for obtaining various restraining orders from Bombay High Court to protect interests of landlords and tenants in the matters of Heritage, Tenure on leasehold lands and also challenging the LUC matter pending in the Hon. Supreme Court and says that “coming under the aegis of NAREDCO will be highly fruitful for redevelopment of dilapidated cessed buildings in particular”.

 Rajan Bandelkar, National President, NAREDCO says “The United affiliation with NAREDCO and its newly appointed committee will take up issues affecting every developer like  levy of GST on redevelopment of tenant flats, Input Tax Credit in GST, MOFA, Environment, Streamlining issues at MCGM, Urban Development and Revenue Department, premium reduction, cluster redevelopment on MHADA and lease hold lands (ESTATE), Defence lands at Central level and help resolve them with a sense of fairness to make it a win win for citizens, authorities/ govt and the small redevelopers.”

In the year 2015, Prominent developers Hiranandani, K Raheja, Raunak, Ekta, Lodha, Nahar, Runwal, Narang etc came together to establish the State body of NAREDCO under the leadership of Dr. Niranjan Hiranandani as the founder and first president. Large corporate developers such as Godrej Properties, Tata Realty, L&T Realty, Mahindra Developers, Birla Estates, Raymond Realty, Piramal Realty, Peninsula Land, Sunteck etc also joined NAREDCO.

Some of the Members who have annexed and endorsed their positions into the New NAREDCO Managing Committee recently are Mr. Sanjay Dutt, Tata Realty, Mr. Venkatesh G, Shapoorji Real Estate, Mr. Abhishek Kapoor, Purvankara Developers, Mr. Vallabh Sheth, Sheth Creators, Mr. Navin Makhija, Wadhwa Group, Mr. Jay Goenka, Dynamix Group, Mr. Kirti Kedia, Transcon Developers, Mr. Manoj Vishwakarma, Dotom Realty, & Mr. Manish Bathija, Paradise Group.

“The National Real Estate Development Council (Naredco) has always strived to be the collective force influencing and shaping the real estate industry. And by welcoming the other two developers’ association it has proven to be an uninvolved and effortless entity,” says Abhay Chandak, Secretary, NAREDCO Maharashtra.

NAREDCO is the pavement to advocate the developing standards for efficient, effective, and ethical real estate business practices, valued by all stakeholders’ sector. It also works to create a sustainable environment conducive to the growth of the industry and government alike through advisory and consultative processes. Naredco shall continue to promote excellence and high standards of operations based on just and equitable principles in transactions relating to various operations of real estate business including building, construction, and marketing. Also, to encourage the co-operation among all enterprises dealing with and engaged in various aspects of real estate development.

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Mumbai, 16^th July 2021: After the successful launch of the Ambarnath-Badlapur unit couple of weeks back, NAREDCO Maharashtra, the Maharashtra chapter of NAREDCO, the apex national body of real estate industry today announced the launch of their new unit in the State, NAREDCO Neral-Karjat. This has led to the creation of an affordable housing stock of over 40000 homes from their 100+ members associated with this unit. This is expected to unlock the affordable housing properties and offer a great opportunity to the discerning homebuyers to buy RERA registered properties at affordable prices in the Neral and Karjat region.

Neral-Karjat is located central to both Mumbai and Pune. The State Highway connects Neral to Karjat, NH4, Panvel and Badlapur. The Matheran hill station is an important tourist attraction in the region. Once lacking both infrastructure and connectivity, Neral-Karjat, today flaunts all amenities available at one’s disposal. Many mega infrastructure projects are being set up by the government to catalyse the real estate growth in Neral-Karjat. Also, it has been designated as the ‘next big residential hub’, after Ambarnath-Badlapur and Kalyan.

Speaking during the launch, Mr. Ashok Mohanani – President, NAREDCO Maharashtra said, “We are happy to announce the launch of NAREDCO’s new unit in Neral-Karjat. This will open up new affordable housing inventory for the prospective homebuyers who are looking to buy their dream home. Under NAREDCO’s umbrella, the homebuyers too will have a sense of trust and confidence. It will also boost the Government’s policy of creating ‘Housing for All by 2022’.”

The infrastructure development in the leading metro cities has improved connectivity to peripheral destinations, thereby, bridging the gap between the cities and the peripheries. On the other hand, projects such as the metro rail, ring roads and highways, etc., offer improved connectivity to the existing city establishments and are more suitable to the immediate needs of budget-conscious home buyers.

Commenting on the occasion, Mr. Gautam Thacker, President, NAREDCO Neral-Karjat unit said, “The Neral-Karjat region offers reasonably priced properties to buyers as compared to other locations in Mumbai, Thane and Navi Mumbai. The location has several affordable properties on offer for buyers in the lower-income segment and is witnessing huge interest from homebuyers as well as investors looking for second homes. At the time when real estate prices have undergone correction, this region with its upcoming infrastructure, tranquil surroundings and affordable pricing can bring the homebuyers’ dream come true.”

The inauguration of the new unit took place in the presence of NAREDCO’s senior leaders such as Dr. Niranjan Hiranandani, National President, NAREDCO; Mr. Rajan Bandelkar, Vice Chairman, NAREDCO Maharashtra; Mr. Sandeep Runwal, President Elect, NAREDCO Maharashtra; Mr. Prashant Sharma, Secretary, NAREDCO Maharashtra; Mr. Kamlesh Thakur, Joint Secretary, NAREDCO Maharashtra; Mr. Maulik Dave, Joint Treasurer, NAREDCO Maharashtra along with the office bearers from Neral-Karjat region.

The Neral-Karjat region has emerged to be an affordable living destination in comparison to the rest of Mumbai. It is witnessing an increase in the population in recent years owing to its proximity to various employment hubs. The region provides its residents with all kinds of social amenities to live a happy and peaceful life that includes various schools, hospitals, the luxury of enjoying recreational amenities and proximity to various banks and ATMs. There will always be sizable demand for real estate here since people will continue seeking affordable homes in the locality and employment prospects will be boosted hugely. Neral-Karjat and its surroundings are not only a beautiful place for home but also a major tourist destination with waterfalls, scenic verdant hills, several farmhouses & resorts along with paddy fields that are the major attractions during the monsoons. Spacious areas and pleasant environment are the main reasons people are investing in properties there to enjoy their weekends or rent their properties for secondary income.  These are factors that will keep the growth momentum of the region intact over the next few years. It is expected to witness handsome appreciation in the future in terms of property rates. Thanks to the fast-paced infrastructure development and emerging real estate projects, Neral-Karjat is fast becoming a destination of choice for Mumbaikars.

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Homebuyers, investors, real estate developers, and policymakers will be able to track high-frequency price movement in India’s important residential markets thanks to the HPI’s collaboration with industry body NAREDCO.

Union Housing and Urban Affairs Secretary Durga Shanker Mishra hosted a virtual event to unveil the Housing.com-ISB Housing Pricing Index (HPI).

“The Housing Price Index, developed in collaboration with the Indian School of Business and Housing.com, has the potential to become a great indicator of the country’s real-estate market health. The COVID-led downturn and general uncertainty have had an impact on the real estate sector. At this moment, it is critical to track growth through reputable sources, which would allow authorities to make faster and more informed decisions during such exogenous shocks,” added Mishra.

In asking that Housing.com and the ISB strengthen the index, Mishra said the index would be helpful to home purchasers and policymakers to decide what to do in future.

According to Mishra, the Housing Bank (NHB) maintains its own housing price index.

The HPI was developed in collaboration with the Indian School of Business’s (ISB) Srini Raju Centre for IT and the Networked Economy (SRITNE) to serve as a tool for tracking changes in residential house values across India’s eight major markets.

The index, by providing beneficial insights into price fluctuation, could assist a potential buyer in determining the best time to acquire a property, as well as sellers in determining the best time to sell their assets. Policymakers and financial analysts can also use it as a trustworthy estimate to track sector changes.

The Elara Technologies owned HPI uses granular prices from the localities and their corresponding weights based on the transaction value share from that locality in India, the Basin, based on surveys of cities such as Ahmedabad, Bengaluru, Chennai, Delhi NCR (Faridabad, Ghaziabad, Gurugram, Greater Noida and Noida), Hyderabad, Kolkata, Mumbai and Pune from 2017 up to the present every quarter of the year,

Data gathered for this purpose include price per square foot, quantity, and the total value of transactions in the past three months for various sub-localities within each city. It also provides information such as the number of bedrooms, the progress of development, and the number of inventory units.

“In the absence of reliable high-frequency data, particularly locality specific data, buyers and policymakers are mainly obliged to rely on market anecdotes and guesswork regarding property price changes in Indian cities. The entire purpose of launching the Housing HPI is to address this issue. Aside from buyers, investors, and policymakers, data from our HPI will be extremely useful for real estate developers looking for a new location to launch new projects,” said Dhruv Agarwala, Group CEO of Housing.com, Makaan.com, and PropTiger.com.

According to Rajendra Srivastava, Dean ISB, this index will assist industry and government decision-makers by giving relevant information on the real estate market and designing appropriate action and interventions.

Niranjan Hiranandani, NAREDCO’s national president and founder and MD of the Hiranandani Group, stated that the Index will address the issue of a lack of well-defined data by providing companies with the necessary business intelligence, market insights, trends, and sentiments to make well-informed decisions.

“Policymakers and decision-makers in the public and private sectors require accurate and timely information on economic activity in order to take effective action and interventions. At the moment, such information has low granularity and resolution, and it is frequently fragmented and privately held, making coordination among economic actors problematic. In the face of current systematic and pervasive disruptions in the economy, particularly the COVID-19 pandemic, indices like the HPI would be extremely important to industry and policymakers,” said Deepa Mani of ISB.

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Despite the fact that over 25% of migrant workers have returned to their hometowns, over a lakh people continue to work at the 250 under-construction project sites in these areas.

Construction site isolation wards would have basic medical amenities such as beds, wheelchairs, oximeters, and sanitisers. The authorities in Noida, Greater Noida, and Yamuna Expressway have ordered Naredco to assist in the establishment of these wards so that these facilities can provide contingency care to Covid-affected workers before severe cases are sent to hospitals.

“The initiative has been taken under the leadership of the authorities of Noida, Greater Noida, and Yamuna Expressway,” RK Arora, President of Naredco-UP, told TOI. We are promoting this initiative and have so far instructed builders to construct worker isolation facilities at the 250 ongoing construction sites in these three areas. The aim is to provide basic assistance to affected workers before sending them to the closest emergency facilities.”

However, no significant outbreaks of Covid have been identified from any specific construction site so far, as per builders. Builders, on the other hand, have stated that the current pandemic would have an effect on construction timelines.

“There have been no reports of a big Covid 19 breakout at any location so far. However, a shortage in available labour and a slowdown in the supply chain during the lockdown have impacted the speed of operation at project sites and execution timelines. Credai-NCR President Pankaj Bajaj said that the projects are likely to be postponed.

About two lakh units are under development in Noida, Greater Noida, and the Yamuna Expressway. UP-Rera has already acknowledged the problem but has yet to provide any concrete relief to builders in terms of deadline extensions.

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The sector’s ‘current perception score’ improved to 40 points during the July-September quarter, according to a survey released on Thursday by industry body FICCI, Naredco and property advisory company Nightfrank. This was at a record low of just 22 points a quarter ago. However, it still remains pessimistic. The survey is issued to real estate developers, banks, financial institutions and private equity companies. Accordingly, the ‘Future Perception Score’ improved from 41 points in the previous quarter to 52 points.

A score index below 50 indicates pessimism of perception and positivity above it. If the index is 50 points, it is considered indifferent.

About 57 percent of the people surveyed believe that the economy will see improvement in the next six months and it will move on the path of development. At the same time, 38 percent of respondents believe that the situation will improve in the next six months, while 31 percent said that the current availability of loan will remain at the same level for six months.

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The return of migrant labourers to their hometowns due to Covid-19 pandemic had created a vacuum in India’s real estate and construction sector. Several projects in the metro cities were held back owing to the exodus. States that have been hit the hardest by the exodus are Maharashtra, Gujarat, Karnataka, Kerala and Delhi. There has been a massive labour shortage plaguing the construction sector and there is tremendous uncertainty on when these migrant labourers will return.

According to Mr. Rajan Bandelkar – President, NAREDCO West and Convener, Housingforall.com, “Around 30-35% of the migrants never left MMR. Of the rest, 15-20% has already returned. Many construction workers are cyclical migrants and return to their villages before the monsoon to help sow the rabi crop. We estimate that the remaining construction workers will return by Dussehra or Diwali.”

This is a tough time for the industry, but on the ground, several developers are trying to do their bit. Many branded developers and industry bodies are stepping forward with plans and policies to deal with this unforeseen situation. “The developers and contractors are trying to give as many incentives as they can to the migrant workers such as flight tickets, arranging private buses, boarding facilities and medical insurance, in addition to weekly medical check-ups at the site,” says Mr. Bandelkar.

With the economy now rebooting, the industry along with the Government need to find ways to meet pent-up demand due to an acute shortage of workers.

Expecting a steady return of the migrant workers, Mr. Bhushan Nemlekar – Director, Sumit Woods Limited said “Reports of migrants returning to their work cities gradually suggest that economic activity may return to normal sooner than we might have initially feared. The skilled work or businesses that these workers have been engaged in for many years in cities give them much higher incomes against what is available in villages. In addition, fear of loss of jobs, especially for those who have worked in a particular organization for many years, will prompt many to return back.”

Mr. Kaushal Agarwal, Chairman, The Guardians Real Estate Advisory said “If the construction activity begins in full swing as migrant workers return back, it will have multiple advantages as it brings wages to labourers, cash flow to developers, much need credit growth for banks and resumption of economic activity in the country. The government needs to now look at targeted relief measures for the real estate sector to ensure the industry continues to remain a leading employment generator and the effect of the lockdown do not further hamper the prospects of this sector,”.

The real estate sector, heavily dependent upon migrant labour from other States, sees their return to work as a major factor for its revival.    

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Intro: Apex realty body announces festive bonanza to homebuyers by waiving off the stamp duty completely in the state and also on its online portal HousingforAll.com till 31^st October 2020

In a move that could benefit homebuyers immensely, revive 250 industries directly and indirectly and at the same time save lakhs of jobs in the state, NAREDCO, the apex national body of real estate industry has come forward to reciprocate the bold and customer-friendly decision of the State Government. The offer is available from today till October 31, 2020.

The Maharashtra Government recently announced slashing the stamp duty on the purchase of new houses by 3 percent from September 1 to December 31, 2020 and by 2 percent from January 1, 2021 to March 31, 2021 to uplift the market sentiments.

In a step forward, members of NAREDCO Maharashtra have come together to offer various affordable and luxury residential properties in over 1,000 housing projects under this scheme. A majority of developers from Mumbai, MMR, Pune and Nashik have decided to waive off the stamp duty and bear the burden themselves in a bid to revive the economy. Other developers are also expected to jump the bandwagon at a later stage.

This is the first time when such a large number of reputed developers have come together to ease the burden of stamp duty levied on the homebuyers. The scheme will be applicable to the projects registered on HousingForAll.com portal, as well.

Mr Rajan Bandelkar, President, NAREDCO – West and Convener, HousingForAll.com said, “After the Government of Maharashtra’s blockbuster measure to reduce the stamp duty on the property buying, it is another milestone step by NAREDCO Maharashtra to cheer the homebuyers. This unprecedented decision to charge no stamp duty on housing sales will bring a new wave of home buying in the short–run and change the demand- supply dynamics positively. It will also result in a substantial savings and reduction in transaction costs for the end user. I appeal to all the consumers that it is a golden opportunity to buy a home as the property prices are lowest and bank loan interest rates are at an all-time low and stamp duty is becoming zero.”

Mr Ashok Mohanani, President Elect, NAREDCO – West, said, “Making the already jubilant homebuyers happier, our unanimous decision to waive the stamp duty completely on the sales of residential properties will add to the home buying euphoria and support the Government’s efforts to push housing demand in the state. This will give a much – needed relief to homebuyers, as there will be no stamp duty obligation any more, making home buying attractive, faster and seamless with substantial savings.”

Real estate is a second-largest employer in the country and a move like this from the apex body would also be instrumental in arresting the job losses in the country during such challenging COVID time which ultimately boosts the economic growth in the State.

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