Indore (Madhya Pradesh): The Realtors have urged the government to implement a 'One Nation, One RERA License' policy at the 73rd NAR-India Governing Body meeting held in Indore. Realtors argued that the current system requires separate RERA (Real Estate Regulatory Authority) licenses for each state, complicating interstate investments and business operations. They believe that a single, nationwide RERA license would streamline the real estate business, making it smoother and more efficient across India.
The meeting, organised by the National Association of Realtors (NAR-India) and hosted by the Indore Realtors Welfare Association (IRWA), focused on various key issues, including board management and leadership in the real estate sector.
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Indore, known as the cleanest city in India and a leader among rapidly developing Tier-2 cities, was chosen as the venue for the event. The three-day programme aimed to provide leadership training for realtors and introduce them to emerging trends and changes within the real estate market.
The meeting attracted 80 key members from 40 cities, many of whom expressed interest in launching projects in Indore, drawn to the city's cleanliness and its burgeoning IT sector.
The real estate industry is currently experiencing a phase referred to as its "Amrit Kaal." Last year, 500,000 homes were sold, and projections for next year estimate sales of 600,000 homes. Cities like Indore, if directed appropriately, have the potential to contribute significantly to this growth.
Land digitisation simplifies processes
IRWA Chairman Bhupendra Joshi and Vice Chairman Shailendra Jain noted that government policies were also discussed during the meeting, with a conclusion that current policies are proving beneficial to the real estate sector. The digitization of land records has notably simplified procedures, reduced corruption, and boosted interest in real estate investments.
IRWA President Arvind Gupta and Secretary Piyush Bhandari played an essential role in organising the event, along with NAR-India leadership, including President Sumanth Reddy, President Amit Chopra, and Secretary Vikas Agarwal.
