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Delhi-RERA and the National Real Estate Development Council (NAREDCO) have announced a partnership to establish the National Institute of Real Estate Development (NIRED) for capacity building in the real estate, construction, and infrastructure sectors. NIRED aims to develop human resource capacity to improve quality and productivity in these industries, benefiting various stakeholders and fostering overall growth.
While speaking to the press, Anand Kumar, Chairman of Delhi-RERA, stated that the partnership's goal is to create a National Institute for Real Estate Development and to plan and conduct training courses for all parties involved in the industry, including promoters, builders, real estate agents, and allottees. Additionally, Delhi-RERA will work to promote awareness of the Real Estate Regulation and Development Act 2016 to ensure compliance with its regulations.
Rajan Bandelkar, President of NAREDCO, emphasized the association's role in bridging the skill gap in the real estate sector and providing necessary training to young professionals and other stakeholders. He envisions the institute will offer a platform for everyone to enhance their knowledge and skills, making them industry-ready and contributing to the growth of the sector.
The launch of NIRED comes at a crucial time as India's real estate sector faces multiple challenges, including a slowdown in sales, stalled projects, and mounting debts. Capacity building through training and skill development is essential to address these challenges and ensure the long-term sustainability and growth of the industry.
NIRED plans to offer a variety of courses, workshops, and seminars, covering topics such as project management, real estate finance, legal and regulatory compliance, and marketing strategies. The institute will also focus on emerging trends and technologies in the real estate industry, such as green building practices, smart city development, and digital marketing.
In addition to providing training and education, NIRED will work closely with industry associations, government bodies, and academic institutions to facilitate research, innovation, and policy development in the real estate sector. This collaboration will help create a conducive environment for the growth of the industry, ultimately benefiting homebuyers and investors.
The establishment of NIRED is expected to have a positive impact on India's real estate market, providing professionals with the skills and knowledge necessary to navigate the complex industry landscape. By enhancing the competency of stakeholders, NIRED will contribute to greater transparency, professionalism, and ethical practices within the sector.
In conclusion, the collaboration between Delhi-RERA and NAREDCO to establish NIRED marks a significant step towards capacity building in the real estate, construction, and infrastructure sectors. The institute will provide a platform for individuals to enhance their knowledge and skills, contributing to the overall growth of these industries. As NIRED works to address current challenges and anticipate future needs, it will play a vital role in the ongoing transformation and modernization of India's real estate sector.
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