The launch of a ‘NAREDCO Housing For All’ e-marketplace has assumed significance owing to unprecedented disruption across the country’s real estate sector with dampening sales and new project launches. The lukewarm approach of homebuyers delaying their buying plans has further added to the woes of the sector, which was already battling pre-pandemic liquidity and NBFC crisis.
India's biggest online housing festival to unlock 2.70 lakh houses for homebuyers soon
NEW DELHI: In a bid to resurrect from a continuous decline in the housing sales and revive the demand amid the worst hit Covid pandemic, the country’s real estate developers will soon offer over 2.70 lakh ‘ready – to – move – in’ houses for online sales to the homebuyers in a first and biggest ever housing festival, which will begin soon.
Initiated by National Real Estate Development Council (NAREDCO), in this festival, the developers from all over India will list their housing properties for sale on an exclusively created E-commerce marketplace ‘NAREDCO Housing For All’ developed in guidance with the Ministry of Housing and Urban Affairs. This festival is expected to unlock the affordable housing properties worth over Rs 1.21 lakh crore and offer a great opportunity to the national and international homebuyers to buy RERA registered properties at the right prices anywhere in India.
Hardeep Singh Puri, Minister, Housing and Urban Affairs, Government of India announced the launch of the e-commerce portal and also unveiled the recently approved ‘Affordable Rental Housing Policy’ knowledge pack to support a huge influx of people in urban India find affordable rental housing. Niranjan Hiranandani, National President, NAREDCO and President, ASSOCHAM,Rajan Bandelkar, Convenor, NAREDCO Housing For All Portal and President – West, Rajeev Talwar, Chairman, NAREDCO, Praveen Jain, Vice Chairman, NAREDCO and other industry delegates were present at the Web-based event.
Congratulating NAREDCO on launching an innovative e-commerce portal, Puri, Minister, Housing and Urban Affairs, said, “The visionary step of creating an e-marketplace for the homebuyers designed by NAREDCO and implementation of the affordable rental housing policy will change the dynamics of the sector, as many people will be able to find their dream houses under these programmes. The Affordable Rental Housing Policy is necessary for migrant workers who cannot afford buying houses and also for younger professionals in the cities. The Government has been speedily working towards meeting the Housing For All targets and the demand assessment shows that about 70% of projects have been grounded.”
Responding to a demand raised by Bandelkar, Convenor, NAREDCO Housing For All Portal and President – West about permitting a 100