The Association of Real Estate Agents (AREA) and the Brihanmumbai Developer Association (BDA) have signed a historic Memorandum of Understanding (MoU) in Mumbai. The MoU is expected to generate business worth INR 10000 Crore between the two associations.
The MoU signifies a major achievement in the real estate sector, as AREA and BDA join forces to affirm their dedication to ethical business conduct and shared advancement.
Every developer has pledged to pay 2% consultant charges without any dispute, reinforcing a commitment to transparent and ethical business dealings. Both associations have agreed to share trade secrets for the betterment of the industry, ensuring a culture of continuous learning and improvement. The MoU includes provisions for arranging educational courses and workshops, fostering skill development and knowledge enhancement among their respective members.
AREA and BDA will work together to assist their members in obtaining the necessary licenses, streamlining the regulatory process. The associations will collaborate to help their members stay updated and compliant with the latest Real Estate Regulatory Authority (RERA) laws.
The MoU envisions hosting conferences, seminars, and events that will provide valuable insights and networking opportunities for professionals in the real estate sector.Perhaps most notably, the agreement sets ambitious goals to facilitate business worth 10,000 crores between both associations, driving economic growth and prosperity in the sector.
Chandresh Vithalani of AREA Group and Ashish Mehta Chairman of Conference expressed their enthusiasm for this historic partnership, stating, "This MoU signifies a new era of collaboration and ethical business practices in the real estate industry. We are excited to work hand-in-hand with BDA to foster growth, knowledge sharing, and professionalism in our sector. Together, we can make a significant impact and set a high standard for the industry."
This partnership between AREA and BDA is set to reshape the real estate landscape, promoting transparency, compliance, and prosperity. It is a testament to the commitment of both organizations to drive positive change and elevate the real estate sector in India.
.JPG)
