NAREDCO Delhi Chapter brought together key stakeholders to discuss transformative solutions for Delhi’s real estate challenges.
Delhi RERA Chairman Anand Kumar highlighted the critical role of collaboration between developers and regulatory authorities in fostering transparency and accountability. He emphasized the upcoming RERA guidelines that aim to enhance trust between buyers and developers while ensuring compliance with building norms.
"We need to rethink our approach to infrastructure and urban planning to bring Delhi back into the spotlight." commented 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. Developers argued that this would streamline financing for real estate projects while ensuring transparency for buyers.
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.
G Hari Babu, National President of NAREDCO, underlined “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.”
