NAREDCO Chairman Dr. Niranjan Hiranandani Discusses Real Estate Reform and Affordable Housing

New Delhi (29 August 2025): The 17th National Convention of the National Real Estate Development Council (NAREDCO) brought together industry leaders, government stakeholders, and policy experts to discuss the future of India’s real estate sector. In an exclusive conversation with TEN NEWS NETWORK, Dr. Niranjan Hiranandani, Chairman of NAREDCO, addressed pressing concerns such as construction delays, housing affordability, smart city development, and the broader vision for a “Viksit Bharat” (Developed India).

Restoring Trust in Real Estate: Focus on Timely Delivery and Quality

Responding to concerns about persistent issues faced by homebuyers — including project delays, subpar construction quality, and lack of transparency — Dr. Hiranandani emphasized NAREDCO’s alignment with regulatory and development goals under RERA (Real Estate Regulatory Authority). NAREDCO has partnered with the Ministry of Housing and Urban Affairs to strengthen the implementation of RERA. We’re no longer looking at RERA as merely a regulatory tool, but as the Real Estate Regulatory and Development Act, which means it also focuses on growth and improvement, Dr. Hiranandani said.

Timely delivery was a disaster, especially in the National Capital Region. We’re working closely with the government to ensure that developers meet their commitments. Going forward, we aim to tackle not only deadlines but also issues like construction quality and overall urban development.

Affordable Housing: A Work in Progress

When asked about the persistent gap between housing demand and supply, particularly in the affordable segment, Dr. Hiranandani acknowledged the challenges but reiterated NAREDCO’s commitment. To be honest, we have not succeeded yet in making housing truly affordable across all segments, he admitted candidly. However, our objective remains clear — to provide housing and shelter to every section of society. We are supporting initiatives like the Pradhan Mantri Awas Yojana and continuously exploring ways to make affordable housing viable. The hurdles are real — from land cost to regulatory bottlenecks — but we’re engaging with the government to simplify these processes and improve the ease of doing business in this space.

Smart Cities: Building the Future with Public-Private Partnerships

As India pushes forward with its Smart Cities Mission and urban expansion, Dr. Hiranandani highlighted NAREDCO’s involvement at both central and state levels. NAREDCO is actively partnering with both central and state governments to support urban infrastructure development. Take Mumbai, for instance — we are looking at over 300 km of new metro rail over the next couple of years, alongside massive investments in airport expansion, the coastal road, and water supply systems, he said.

Just in the Mumbai region, nearly ₹3 lakh crore is being invested. These efforts are being replicated across major metros and emerging urban centers. This is the roadmap for a ‘Viksit Bharat’ — the developed India that our Prime Minister envisions.

Looking Ahead: Multi-Sectoral Development is Key

In conclusion, when asked about the key takeaways and action items from the 17th National Convention, Dr. Hiranandani emphasized an integrated, holistic approach to development. This convention is not about addressing just one aspect of housing or real estate. We are discussing everything — from housing and infrastructure to education, health, and sustainability. All these sectors are interlinked, and we are working to take them all to the next level, he stated.

The 17th National Convention of NAREDCO has emerged as a platform for serious introspection and collaborative planning as India’s real estate industry stands at a pivotal point in its transformation. With voices like Dr. Hiranandani pushing for greater accountability, innovation, and partnership, the sector appears committed to aligning itself with the nation’s development goals.