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Real estate development council meet to focus on affordable housing

Story image for Real Estate from Financial ExpressMembers of Naredco from across various chapters are set to converge in New Delhi to take stock of the real estate scenario post the RERA and GST implementation.

The focus will be on charting out strategies for the future with an accent on affordable housing.

R Chalapathi Rao, Vice-President, South, Naredco, P. Ravinder Rao, President, Telangana Real Estate Developers’ Association, and G Hari Babu, President, Naredco Andhra Pradesh, sharing their perspectives on the real estate sector, said the sector could bring about a multiplier effect on the overall economic growth.

The National Real Estate Development Council, which is set to host the 14th National Convention on ‘Indian Real Estate — Unfolding the New Era of Growth,’ in the backdrop of changes brought about in the regulatory environment, will not only deliberate on some of the regulatory issues but also chart out an action plan.

To be held in New Delhi on August 28-29, the convention will focus on affordable housing in India, which is seen as a multi-trillion dollar opportunity.

While members from across various chapters converge, they would also get an opportunity to showcase opportunities in the respective states.

The convention is expected to deliberate on regulatory issues and how the sector is likely to take shape by 2025 and what could be some key trends during this journey.

The Real Estate (Regulation and Development) Act, 2016, which is now being implemented by various states, is seen to bring about a transformation in the sector even though it may have some initial issues while developers and buyers adjust.

Even though the Goods and Services Tax is seen as an enabler, on the ground, there appear to be some last mile issues, which the developers plan to discuss and take up with the Government.

As a number of smart cities are planned, the developers see themselves playing a vital role through next generation real estate projects.