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Innovative funding solutions & technology upgrade to help revive realty sector: NAREDCO
ETRealty  |  July 30, 2019

New Delhi

National Real Estate Development Council (NAREDCO) on Monday said that innovative funding solutions, alignment with the newly emerged segments and construction technology upgrade will propel the real estate sector’s revival.

 

According to the association, the sector is facing major challenges on liquidity squeeze, ease of doing business, land acquisition, lack of skilled workforce, and higher development rates which shall be positively addressed by government in tandem with apex bodies with cumulative corrective steps.

 

Niranjan Hiranandani, national president, NAREDCO said, as per estimates, an investment of USD 2 trillion till 2022 is required to meet the housing shortfall of 110 million housing units. Therefore, it is imperative that government considers bringing in innovative funding mechanism to speed up the construction and offer help on deliveries.

 

According to Hiranandani, real estate is bound to grow at the CAGR of 35%.

 

The body added that segments such as the logistics & warehousing sector, co-living and co-working, senior living, educational institutions and special economic zones offer these development opportunities to developers in real estate.

 

“However, to be an active player in these segments, it is imperative that the development firms are supported with ease in regulations and simplified rules governing these segments,” said Rajeev Talwar, chairman, NAREDCO.

 

NAREDCO has also urged the government to create an atmosphere in the country for faster adoption of new age modern construction technologies of world repute. “This will help in faster deliveries and will eventually help homebuyers. The disruption brought on by the technology upgrade will boost efficiency and will help the sector to perform,” said Parveen Jain, vice-chairman, NAREDCO.

 

The body will hold its 15th National convention on 19th August where it plans to discuss these issues in detail.