Real Estate Sector Urged to Embrace Sustainability and Innovation
NATIONAL REAL ESTATE DEVELOPMENT COUNCIL (NAREDCO)
An autonomous self-regulatory Real Estate body under the aegis of Ministry of Housing and Urban Affairs, Govt. of India.
The real estate sector has been called upon to embrace sustainable practices to address future housing challenges. This call was made during the 3rd NAREDCO Mahi Convention, emphasizing the need for revisiting traditional practices and investing in essential infrastructure like rainwater harvesting and solar-powered pathways.
The importance of creating walkable spaces, parks, and school pathways within housing complexes, as well as managing water resources on-site to reduce reliance on external supplies, was highlighted.
Key takeaways from the 3rd NAREDCO Mahi Convention include:
1. Sustainable Infrastructure: Emphasis on incorporating rainwater harvesting and solar-powered pathways in housing projects to meet future needs.
2. Affordable Housing: Alignment with the NDA Government's vision under Prime Minister Modi to construct affordable housing.
3. Child-Friendly Spaces: Importance of providing ample space for children's play areas and safe walkways to combat childhood obesity.
4. Women Participation: Highlighting the low participation of women in the real estate sector (currently 8-10%) and calling for efforts to boost women's enrolment.
5. Government Initiatives: Announcement of the clearance of 3 crore housing units over the next five years, with 2 crores for rural areas and 1 crore for urban regions, and a proposed Rs. 25 thousand crore project for slum rehabilitation in and around Mumbai.
6. Economic Growth: Recognition of affordable housing's potential to boost growth in the real estate sector and contribute to India's goal of becoming the third-largest economy.
Efforts by NAREDCO Mahi to promote women's participation in the sector were also lauded, emphasizing the contributions of versatile women in driving NAREDCO's growth and influencing policy changes.
As the real estate sector prepares for these challenges, collaboration between the government and the private sector will be crucial in achieving the envisioned transformation.