'People Are Not Aware Of The Provisions And Guidelines Of RERA,' Anand Kumar, Chairman, NCT Of Delhi RERA

A 3-day real estate workshop was jointly organised by The National Real Estate Development Council (NAREDCO), under the aegis of the Ministry of Housing & Urban Affairs, and Delhi RERA at the second Management Development Programme titled ‘RERA & Real Estate Essentials’. Held from May 15th to 17th, 2024 at PHD House in Delhi under the banner of the National Institute of Real Estate Development (NIRED) the workshop aimed to provide comprehensive training to the various stakeholders of the real estate industry.

While addressing the participants, G Hari Babu, National President of NAREDCO said, “Real estate sector is at the cusp of a giant leap and will contribute a whopping 15% to country’s GDP by 2050. With a current market valuation of 250 billion dollars, real estate sector is with the expected growth rate of 16-17% will almost contribute around 15% to the country’s GDP by 2050. Among other things this industry requires large number of trained professionals considering its size, time and value involved. This management development program is a step in that direction and reflects our dedication to cultivating talent and promoting excellence in the real estate domain. Through providing organizations, their employees, and professionals with the essential knowledge and skills required to excel in the current competitive landscape, we aim to catalyse sustainable growth and promote professionalism in the industry.”

Anand Kumar, Chairman, NCT of Delhi RERA, commented, “Real estate is a dynamic sector and the pace of change has only accelerated in the last few years and by imparting transparency to the sector, RERA has a big role to play in this. However, despite all the efforts, people are not aware of the provisions and guidelines of RERA. This workshop is a step in that direction. Further, we not only need to understand the gradually evolving landscape but also equip realty professionals with the right knowledge, foster professionalism and instil the culture of compliance among all stakeholders involved.”

“Real estate and construction sector is not only the second largest employer in the country but also contributes significantly to its GDP. In the last few years, it has also witnessed rapid growth. Therefore, it is imperative to regularly impart comprehensive training and undertaking capacity building initiatives among the professionals engaged in real estate, construction, and infrastructure sectors. We are happy with the number of participants and the response from the fraternity,” said Harsh Bansal, President, Delhi NAREDCO.