New Delhi, January 21, 2025: In a landmark developers’ meet, the NAREDCO Delhi Chapter brought together key stakeholders to discuss transformative solutions for Delhi’s real estate challenges. With Chief Guest Mr. Anand Kumar, Chairman of Delhi RERA, NAREDCO National President Mr. Hari Babu, and Delhi Chapter President Mr. Harsh Vardhan Bansal leading the dialogue, the event set a visionary roadmap for addressing the capital’s critical urban and real estate issues.
Chief Guest and Delhi RERA Chairman Anand Kumar commended the organization’s efforts to address the pressing challenges in Delhi’s real estate sector. He highlighted the critical role of collaboration between developers and regulatory authorities in fostering transparency and accountability. During his address, Mr. Anand Kumar emphasized the upcoming RERA guidelines that aim to enhance trust between buyers and developers while ensuring compliance with building norms. Applauding NAREDCO’s initiatives, he expressed confidence that the chapter’s proactive measures and task force would pave the way for sustainable and inclusive urban growth in Delhi.
The discussions at the meet centered around enhancing Delhi and making it a real estate hub when compared to its neighboring cities like Gurgaon. “We need to rethink our approach to infrastructure and urban planning to bring Delhi back into the spotlight.” commented Mr. Harsh Vardhan Bansal. He emphasized that delays in urban projects were pushing real estate activity out of the city and into its suburbs, exacerbating traffic congestion and economic decentralization. Addressing this, the formation of a joint task force comprising representatives from DDA, MCD, DMRC, and private developers was seen as a game-changer. This task force has already identified 19 critical issues, including delays in green building approvals, amalgamation of plots, and infrastructure bottlenecks, and aims to meet regularly to drive actionable outcomes.
Another pivotal topic was RERA’s role in building confidence among developers and homebuyers. The need to recognize the allotment letter as a valid and binding document for financial institutions was emphasized. Developers argued that this would streamline financing for real estate projects while ensuring transparency for buyers. Mr. Anand Kumar, Chairman of Delhi RERA, acknowledged these concerns and assured participants of a streamlined framework that fosters trust and accountability in the sector.
Developers also called for more ambitious projects within Delhi that can match the luxury and vibrancy of Gurgaon, reducing dependency on the suburbs for jobs and modern living spaces.
Mr. G Hari Babu, National President of NAREDCO, underlined the broader implications of these discussions, saying, “Delhi is not just the political capital; it needs to become a global real estate and business capital. By resolving critical issues like infrastructure delays, and affordable housing bottlenecks, we can bring the city back to the forefront of urban development.”
