· NAREDCO Maharashtra to organise one of the largest forums of Real Estate on 28th April 2022
· Developers to strategise the ways to reinvent the sector to foster growth
· Experts to discuss sector’s challenges in NAREDCO Maharashtra’s Real Estate Forum 2022
Despite the disruptions and market upheavals during the last two years of the pandemic, the real estate sector has made an impressive revival. The sector has transformed into a buyer’s market driven by rising demand and various reforms by the Government in the past few years revealed the National Real Estate Development Council (NAREDCO), Maharashtra Chapter while announcing their flagship event, The Real Estate Forum 2022 that will conclude on 28th April 2022. Sandeep Runwal, President, NAREDCO Maharashtra announced the event today. The event is organised by NAREDCO Maharashtra along with the JLL as a knowledge partner under the theme “Reimagining, Redesigning, Reinventing Real Estate”.
A one – day event will witness the presence of luminaries such as Aditya Thackeray, Hon. Minister of Tourism and Environment, Maharashtra; Balasaheb Thorat, Hon. Minister of Revenue, Govt. Of Maharashtra; Jitendra Awhad, Hon. Minister Of Housing, Govt. Of Maharashtra; Ajoy Mehta IAS, Chairman, MahaRERA among others deliberating on various topics that will help reinventing the Indian real estate sector in the future. The topics such as ‘Raising Capital – Public or Private, Bringing efficiency & sustainability to construction, The what, why and how of debt funding, etc. shall be discussed by participating subject experts. Besides, the renowned motivational speaker Shri Gaur Gopal Das will address at the event in the end.
Talking about the relevance of the event, Sandeep Runwal, President, NAREDCO Maharashtra said, “With uncertainty in markets owing to the ongoing conflict between Russia and Ukraine war, the raw material prices have considerably gone up. Lately, this has been the biggest challenge post the pandemic. After the COVID–induced economic uncertainties that were outcast by aggressive combating interventions by the apex body of developers; such as zero stamp duty on the home sales, seeking timely Government interventions on key issues, etc. it’s time now to rethink and realign our strategies to combat the new challenges that the real estate industry is facing.”
Karan Singh Sodi, Regional Managing Director (Mumbai & Ahmedabad), JLL India said, “Indian real estate has seen a strong recovery this year. The pandemic has brought forth the inherent desire to own one’s home. A benevolent interest rate regime has only made it much easier for the homebuyer to now own a home rather than rent it. We have seen residential sales pick up sequentially in the first quarter of 2022. Sales for the quarter, January to March 2022, also surpassed the average quarterly sales for the pre-Covid 2018-19 period by a significant 148%. In fact, this quarter also witnessed a rise in sales for bigger ticket sizes with apartments priced over INR 1 crore or higher recording an 83% Year-on-Year (Y-o-Y) growth in sales. This is the right time where we should think of strategic ways of resolving the persisting issues like rising raw materials cost, etc. to smoothen the curve for a better tomorrow for the industry.”
The Government’s reforms and aggressive initiatives by the developers have revived the buyers’ confidence, particularly in the markets like Mumbai. The emergence of the ‘work-from-home’ culture, innovative ways such as levying zero stamp duty, the RERA impact converting an unorganised sector into the organised one, new – age assets like data centres, logistics, senior-living, student housing etc. will help the sector take a big leap in the year 2022.