Developer Associations consolidate under NAREDCO

• Brihanmumbai Developers Association and Central Mumbai Developers Welfare Association join forces with NAREDCO Maharashtra

by Suman Gupta

Mumbai, 21^st December 2021: In a big move, Brihanmumbai Developers Association (BDA) and Central Mumbai developers’ Welfare Association (CMDWA) consolidate with NAREDCO Maharashtra.

National Real Estate Development Council (NAREDCO) a self-regulatory body formed under the aegis of the Ministry of Housing and Urban Affairs (MoHUA), Govt of India. It opened its state chapter in November 2015 under the leadership of founder and first president Dr. Niranjan Hiranandani.

Commenting on the occasion, Sandeep Runwal, President, NAREDCO-Maharashtra and Managing Director, Runwal Group, said, “We welcome BDA and CMDWA, 2 very strong developers associations to the NAREDCO organisation. We are honoured by the current recognition that NAREDCO is receiving among the developers.”

BDA and CMDWA have a combined membership of Over 750 Developers who are implementing housing projects under Development Control Regulation (DCR) 33-7, 33-5 & 33-9. These include cessed and non-cessed buildings including MHADA and estate lease hold lands.

With the joining of these two bodies, NAREDCO Maharashtra will now have over 4000 developers as its members to create the strongest and the most trusted developers governing body in the MMR region.

Speaking on the collaboration, Founder and Vice President, BDA, Harrish Kumar Jain said, “We are extremely delighted to associate with the most trusted entity in the real estate fraternity. With the same zeal and confidence, we ensure to build a platform that would create a win-win situation for both developer bodies and the potential homebuyers across the state.”

CMDWA under its Founder President & MD, PrinceCare Realty, Dharmesh Chheda claims credit for obtaining various restraining orders from Bombay High Court to protect interests of landlords and tenants in the matters of Heritage, Tenure on leasehold lands and also challenging the LUC matter pending in the Hon. Supreme Court and says that “coming under the aegis of NAREDCO will be highly fruitful for redevelopment of dilapidated cessed buildings in particular”.

Rajan Bandelkar, National President, NAREDCO says “The United affiliation with NAREDCO and its newly appointed committee will take up issues affecting every developer like  levy of GST on redevelopment of tenant flats, Input Tax Credit in GST, MOFA, Environment, Streamlining issues at MCGM, Urban Development and Revenue Department, premium reduction, cluster redevelopment on MHADA and lease hold lands (ESTATE), Defence lands at Central level and help resolve them with a sense of fairness to make it a win win for citizens, authorities/ govt and the small redevelopers.”

In the year 2015, Prominent developers Hiranandani, K Raheja, Raunak, Ekta, Lodha, Nahar, Runwal, Narang etc came together to establish the State body of NAREDCO under the leadership of Dr. Niranjan Hiranandani as the founder and first president. Large corporate developers such as Godrej Properties, Tata Realty, L&T Realty, Mahindra Developers, Birla Estates, Raymond Realty, Piramal Realty, Peninsula Land, Sunteck etc also joined NAREDCO.

Some of the Members who have annexed and endorsed their positions into the New NAREDCO Managing Committee recently are Mr. Sanjay Dutt, Tata Realty, Mr. Venkatesh G, Shapoorji Real Estate, Mr. Abhishek Kapoor, Purvankara Developers, Mr. Vallabh Sheth, Sheth Creators, Mr. Navin Makhija, Wadhwa Group, Mr. Jay Goenka, Dynamix Group, Mr. Kirti Kedia, Transcon Developers, Mr. Manoj Vishwakarma, Dotom Realty, & Mr. Manish Bathija, Paradise Group.

“The National Real Estate Development Council (Naredco) has always strived to be the collective force influencing and shaping the real estate industry. And by welcoming the other two developers’ association it has proven to be an uninvolved and effortless entity,” says Abhay Chandak, Secretary, NAREDCO Maharashtra.

NAREDCO is the pavement to advocate the developing standards for efficient, effective, and ethical real estate business practices, valued by all stakeholders’ sector. It also works to create a sustainable environment conducive to the growth of the industry and government alike through advisory and consultative processes. Naredco shall continue to promote excellence and high standards of operations based on just and equitable principles in transactions relating to various operations of real estate business including building, construction, and marketing. Also, to encourage the co-operation among all enterprises dealing with and engaged in various aspects of real estate development.