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The National Real Estate Development Council (NAREDCO) urged the government to expedite the approval processes for real estate developments, highlighting the resulting benefits of lower input costs and accelerated supply of housing and commercial properties. NAREDCO also called attention to the pressing need for skilled construction labour and proposed greater collaboration between the government and industry bodies for workforce training. Challenges such as high land costs, regulatory delays, and inadequate rental policies were flagged as obstacles affecting affordable housing and overall sectoral growth.
The National Real Estate Development Council (NAREDCO) has requested both central and state governments to streamline the approval process for real estate projects in a bid to accelerate housing and commercial property supply. The announcement was made during a press conference held in the national capital, where the 17th edition of NAREDCO's flagship National Convention was also formally announced, scheduled to be held in the city later this month. Delhi Chief Minister Rekha Gupta unveiled the official logo of the event. Advertisement
Niranjan Hiranandani, Chairman of NAREDCO, raised concerns regarding the slowdown in affordable housing sales, attributing the decline to high land prices which limit the feasibility of low-cost residential developments for private builders. He also drew attention to a significant shortage of skilled labour within the construction sector and suggested that cooperation between the government and real estate associations would be crucial for training the unskilled workforce. He stated that there exists an ironic gap, with unemployment on one hand and a shortage of skilled construction workers on the other.
NAREDCO President G Hari Babu emphasised the urgent need to remove administrative hurdles, pointing out that a faster, more transparent approval mechanism would reduce costs and improve project timelines. He noted that developers often face delays in acquiring registration certificates from real estate regulatory bodies, which impedes timely project launches.
Addressing the issue of land scarcity for affordable housing, Hari Babu recommended a focused approach towards slum redevelopment across states to unlock land for construction. He remarked that while private developers struggle with land acquisition, the government does not face such limitations. On the convention, he mentioned that over 1,000 stakeholders were expected to participate in the two-day event.
He added that the sector's ability to attract global capital, enhance last-mile project delivery, and better serve end-users depends on resolving core policy bottlenecks, such as delays in approvals, weak rental housing frameworks, and elevated construction input costs.
The industry body also called for partnerships to bridge the skilled labour shortage, which remains a critical challenge. With its upcoming national convention, NAREDCO aims to spotlight these pressing issues and initiate constructive dialogue among stakeholders to drive sustainable growth across the sector.
Source - PTI
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