NAREDCO Maharashtra Partners with IFC to Boost Sustainable Real Estate by 2025
NAREDCO Maharashtra, a leading real estate association, has partnered with the International Finance Corporation (IFC) to promote sustainable real estate practices, positioning Maharashtra as a leader in green building initiatives by 2025.
Naredco MaharashtraIfcSustainable Real EstateGreen BuildingsEdge CertificationReal Estate NewsFeb 04, 2025
This collaboration aims to transform the real estate landscape by promoting green building practices, energy efficiency, and environmental sustainability.
The goal is to position Maharashtra as a leader in sustainable construction by 2025.
NAREDCO Maharashtra, established in 1970, is a leading organization representing developers, builders, and real estate professionals.
The association works to enhance the real estate sector through regulatory advocacy, industry standards, and member support.
NAREDCO has been at the forefront of promoting ethical practices and innovation in the real estate market.
The IFC, a member of the World Bank Group, focuses on fostering sustainable private sector development in emerging markets.
Through this partnership, the IFC will provide technical assistance, training, and financial support to NAREDCO Maharashtra and its members.
The objective is to help real estate developers adopt green building standards, such as the EDGE (Excellence in Design for Greater Efficiencies) certification, which emphasizes energy, water, and material efficiency.
Dr.
Anand Pathak, President of NAREDCO Maharashtra, expressed his enthusiasm for the collaboration 'This partnership with the IFC is a significant step towards achieving our goal of sustainable real estate development.
We are committed to creating a greener, more sustainable built environment for the future generations of Maharashtra.'
The partnership will focus on several key areas
1.
Green Building Certification Encouraging real estate projects to achieve EDGE certification, which can reduce energy consumption by 20%, water usage by 20%, and material costs by 20%.
2.
Training and Capacity Building Conducting workshops and training programs to educate developers and builders about sustainable construction practices.
3.
Policy Advocacy Working with government bodies to introduce and implement policies that promote sustainable real estate development.
4.
Financial Incentives Exploring financial mechanisms to support developers in adopting green building practices, such as green bonds and low-interest loans.
The benefits of sustainable real estate development are manifold.
Green buildings not only reduce environmental impact but also offer long-term cost savings, improve indoor air quality, and enhance the well-being of occupants.
Moreover, they can attract a more discerning and environmentally conscious market, providing a competitive edge in the real estate sector.
NAREDCO Maharashtra and the IFC are confident that this partnership will accelerate the adoption of sustainable practices and contribute to the overall growth of the real estate industry in Maharashtra.
By 2025, they aim to see a significant increase in the number of green buildings, setting a benchmark for other states to follow.
In conclusion, the NAREDCO Maharashtra-IFC partnership represents a forward-thinking approach to real estate development.
By focusing on sustainability, the partnership aims to create a more resilient, efficient, and environmentally friendly built environment for the future.
Frequently Asked Questions
What is NAREDCO Maharashtra?
NAREDCO Maharashtra is a leading real estate association established in 1970. It represents developers, builders, and real estate professionals and works to enhance the real estate sector through regulatory advocacy, industry standards, and member support.
What is the IFC?
The International Finance Corporation (IFC) is a member of the World Bank Group. It focuses on fostering sustainable private sector development in emerging markets by providing technical assistance, training, and financial support.
What is the goal of the partnership between NAREDCO Maharashtra and IFC?
The partnership aims to promote sustainable real estate practices, position Maharashtra as a leader in green building initiatives, and achieve a significant increase in the number of green buildings by 2025.
What is the EDGE certification?
EDGE (Excellence in Design for Greater Efficiencies) is a green building certification that emphasizes energy, water, and material efficiency. It can reduce energy consumption, water usage, and material costs by 20% each.
What are the key areas of focus in the partnership?
The partnership focuses on green building certification, training and capacity building, policy advocacy, and financial incentives to support sustainable real estate development.
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