Naredco Launches Uttarakhand Chapter

National Real Estate Development Council (Naredco) has inaugurated its Uttarakhand chapter, marking a significant step towards real estate development in the region. This announcement was made during the event “Emergence of Naredco Uttarakhand” in Mussoorie, attended by prominent members of Naredco’s Governing Council from across India.

Chief Guest Premchand Aggarwal, Minister of Housing and Urban Development, and Guest of Honour Ganesh Joshi, Minister of Agriculture, were present alongside Naredco’s chairman emeritus Parveen Jain, national president G Hari Babu, and vice chairman Rajan Bandelkar. Aggarwal emphasised the immense potential for development in Uttarakhand, noting the rapid population growth in the state’s major cities. The government plans to develop 22 new townships at a brisk pace, which is expected to generate employment and boost real estate revenue. He highlighted the importance of constructing environment-friendly townships that incorporate sustainable practices such as renewable energy, efficient waste management, and the use of green building materials. These initiatives aim to preserve Uttarakhand’s natural beauty while providing healthier living conditions and curbing youth migration by creating local employment opportunities. Aggarwal also pointed out that the synergy between real estate and tourism could significantly enhance the local economy and foster a vibrant community.

Joshi reiterated Uttarakhand’s potential for real estate development, driven by its status as a tourist destination. The state attracts a continuous flow of tourists, pilgrims, and travel enthusiasts throughout the year. He noted that the scarcity of land in metro cities has shifted corporate focus towards smaller towns, with the growing technology sector requiring more residential space for professionals. Dehradun, in particular, is being promoted for the development of theme townships. Babu stated that the Uttarakhand chapter would serve as a catalyst for growth in the real estate sector. He highlighted the state’s conducive environment for investment and the potential for significant industry growth. Through this chapter, Naredco aims to promote best practices, foster innovation, and advocate for policy reforms to propel the state’s real estate industry to new heights.

Dinesh Kapila, economic advisor to the Ministry of Housing and Urban Affairs, remarked on Uttarakhand’s unique geography, which offers diverse opportunities for real estate growth. He noted increasing demand across various segments, from serene mountain retreats to bustling urban centres. Improved infrastructure and connectivity are attracting both domestic and international investors. Kapila stressed the importance of balancing economic growth with environmental preservation and mentioned the rise of remote work as a factor sparking interest in Uttarakhand as a destination for second homes and co-working spaces.

Manoj Joshi, president of Naredco Uttarakhand Chapter, spoke about the organisation’s commitment to engaging with government authorities and policymakers. He emphasised the goal of creating a favourable regulatory environment that encourages sustainable growth and investment in the real estate sector. The chapter will focus on research and analysis to provide valuable insights into the market, identify trends, and inform industry stakeholders and policymakers. By facilitating networking opportunities, fostering partnerships, and encouraging collaboration among developers, industry experts, and other stakeholders, the chapter aims to drive collective growth and development.