NAREDCO EXTEND ITS FOOTPRINTS TO PUNJAB WITH FORMING OF NAREDCO PUNJAB STATE CHAPTER
Real estate industry body, Naredco has launched its 9th chapter in Punjab with an aim to seek government’s support on regulatory issues and propel the state’s real estate towards growth.
NAREDCO(National Real Estate Development Council), the apex national body for the RealEstate Industry which works under the aegis of Ministry of Housing & UrbanPoverty Alleviation.
NAREDCOalready has a presence across 8 states in the country including Delhi,Maharashtra and Karnataka capturing some of the prime real estate metros. Thenewly launched chapter has membership from 15-20 leading and local developmentfirms.
Commentingon the launch of Punjab chapter, Mr. Parveen Jain President NAREDCO said, “Thelaunch of Punjab chapter reinforces the need for the group of development firmsto come together to raise local issues and regulatory concerns through anational platform. The Punjab chapter aims to help resolve local issues,initiate dialogue with the state as well as the national government to removethe uncertainties of the state’s real estate sector. We continue to gettremendous support from local as well as national level development firms inimplementing the very objective of the chapter.”
Punjab’sreal estate has seen correction in prices post demonetisation. The state’smarket has transformed into a buyer’s arena as people are now preferringgreater transparency in property transactions. Punjab is also one of the statesin the country to have placed an interim Real Estate Regulatory Authority postframing the rules of a Real Estate (regulation and development) Act.
State offerssome good options of real estate investments. Cities such as Amritsar,Ludhiana, Jalandhar, Mohali & Chandigarh offers good investment potential.