{"id":18997,"date":"2024-01-06T08:25:01","date_gmt":"2024-01-06T02:55:01","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=18997"},"modified":"2025-04-05T14:36:26","modified_gmt":"2025-04-05T09:06:26","slug":"naredco","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/naredco\/","title":{"rendered":"What is National Real Estate Development Council (NAREDCO)?"},"content":{"rendered":"<h2>About National Real Estate Development Council (NAREDCO)<\/h2>\n<ul>\n<li>It was established in 1998\u00a0under the Ministry of Housing and Urban Affairs of the Government of India.<\/li>\n<li>It is the\u00a0leading industry association for the real estate sector in the country.<\/li>\n<li>Its\u00a0primary objective is\u00a0to provide a legitimate platform for the government, the real estate industry, and the general public\u00a0to address their concerns\u00a0and find effective solutions\u00a0to the\u00a0challenges faced by the real estate sector.<\/li>\n<li>NAREDCO&#8217;s mission is to\u00a0improve the real estate industry&#8217;s building, construction, and marketing standards.<\/li>\n<li>It contributes to the development of national fiscal policies and acts as a catalyst for economic growth in the Indian real estate sector.<\/li>\n<li>With a membership base comprising over\u00a010000+ members across India with its State NAREDCO chapters, NAREDCO plays a crucial\u00a0role in policy formulation\u00a0by representing the viewpoints of its members\u00a0to various ministries on a regular basis.<\/li>\n<li>All\u00a0major national developers and public sector organizations\u00a0in the fields of\u00a0housing and real estate development,\u00a0finance, and marketing are members of NAREDCO.<\/li>\n<li>Structure:\n<ul>\n<li>The organizational structure of NAREDCO includes\u00a0National, State, and City Councils.\u00a0<\/li>\n<li>The\u00a0councils ensure that the\u00a0policy recommendations accurately reflect the real conditions on the ground and cover the entire geography.<\/li>\n<li>The\u00a0National Council focuses\u00a0on macro-level issues, the State Councils address state-level concerns, and the\u00a0City Councils tackle local and on-ground issues.<\/li>\n<li>The Union Minister for Housing and Urban Affairs, Govt. of India, serves as the\u00a0Chief Patron of NAREDCO.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<hr \/>\n<h3>Q1) What is the Real Estate (Regulation and Development) Act (RERA)?<\/h3>\n<p>It is an act passed by the Indian Parliament in 2016 for the regulation and promotion of the real estate sector in the country. This Act establishes a Real Estate Regulatory Authority (RERA) in every state to regulate the real estate sector and serve as the adjudication body to enable quick resolutions. The act applies to all under-construction projects with a plot size above 500 sq. m or projects with 8 apartments or more.<\/p>\n<p><strong>Source:<\/strong> <a href=\"https:\/\/www.business-standard.com\/india-news\/naredco-plans-event-to-showcase-real-estate-opportunities-in-ayodhya-124010500705_1.html\" target=\"_blank\" rel=\"nofollow noopener\"><u>NAREDCO plans event to showcase real estate opportunities in Ayodhya<\/u><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>National Real Estate Development Council is the leading industry association for the real estate sector in the country.<\/p>\n","protected":false},"author":5,"featured_media":18998,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-18997","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/18997","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=18997"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/18997\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/18998"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=18997"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=18997"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=18997"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}