NAREDCO Urges Government to Speed Up Real Estate Project Approvals
NAREDCO, the National Real Estate Development Council, has called for the government to streamline the approval process for real estate projects, aiming to boost housing and commercial property supply. The organization also announced its 17th National Convention.
Real EstateNaredcoAffordable HousingProject ApprovalsSkilled WorkforceReal Estate MumbaiAug 01, 2025
NAREDCO also announced the 17th edition of its flagship National Convention, scheduled to take place from August 29-30 in the national capital. The convention's official logo was unveiled by Delhi Chief Minister Rekha Gupta.
In a press conference, NAREDCO Chairman Niranjan Hiranandani expressed concern over the decline in sales of affordable housing due to various factors, including high land costs. High land costs make it extremely difficult for private builders to develop low-cost homes, he noted.
Additionally, Hiranandani highlighted the significant shortage of skilled workers in the construction industry. He suggested a collaboration between the government and industry associations to train unskilled workers, addressing the dual issues of unemployment and workforce shortage.
"At one end, we have a problem of unemployment, and at the other end, we have a shortage of skilled workers," Hiranandani added.
NAREDCO President G Hari Babu emphasized the need for the central and state governments to streamline the approval process for real estate projects. He argued that this would lead to faster development and reduced input costs. Babu also pointed out the delays in obtaining registration certificates from real estate regulatory authorities, which further hinder project launches.
Regarding affordable housing, Babu stressed the importance of focusing on slum redevelopment across all states. This approach could free up land parcels for the development of real estate projects. He quipped, "Land is a problem for private real estate developers, not for the government."
On the upcoming convention, Babu mentioned that more than 1,000 people are expected to participate in the two-day event. He highlighted the sector's ability to attract global capital, improve last-mile project delivery, and serve end-users, which all depend on resolving policy friction points like delays in approvals, inadequate rental frameworks, and high construction input costs.
The National Real Estate Development Council (NAREDCO) is a leading organization in the real estate sector, representing developers and stakeholders. The council plays a crucial role in advocating for policies that promote sustainable and inclusive growth in the real estate market. The 17th National Convention is expected to bring together industry leaders, policymakers, and experts to discuss and address the key challenges and opportunities in the sector.
Frequently Asked Questions
What is NAREDCO?
NAREDCO stands for the National Real Estate Development Council. It is a leading organization in the real estate sector, representing developers and stakeholders. NAREDCO plays a crucial role in advocating for policies that promote sustainable and inclusive growth in the real estate market.
Why is NAREDCO demanding faster approvals for real estate projects?
NAREDCO is demanding faster approvals to increase the supply of housing and commercial properties. Streamlining the approval process can lead to faster development and reduced input costs, addressing the current shortage of properties in the market.
What are the key issues facing the affordable housing sector?
The key issues facing the affordable housing sector include high land costs, which make it difficult for private builders to develop low-cost homes, and a shortage of skilled workers in the construction industry.
What is the focus of the 17th National Convention by NAREDCO?
The 17th National Convention by NAREDCO focuses on bringing together industry leaders, policymakers, and experts to discuss and address key challenges and opportunities in the real estate sector. It aims to resolve policy friction points like delays in approvals, inadequate rental frameworks, and high construction input costs.
How does NAREDCO suggest addressing the shortage of skilled workers in the construction industry?
NAREDCO suggests a collaboration between the government and industry associations to train unskilled workers. This approach aims to address the dual issues of unemployment and the shortage of skilled workers in the construction industry.
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