National Real Estate Development Council
Credit: X/@NaredcoNational
The National Real Estate Development Council has elected G Hari Babu as the president for 2023-25, the realty body said in a press statement on Friday.
Hiranandani Group Managing Director Niranjan Hiranandani has taken over as Chairman, while erstwhile president Rajan Bandelkar was elected Vice Chairman of the organisation, which falls under the aegis of the Ministry of Housing and Urban Affairs.
Under his leadership, the priority areas will include strengthening the state chapters and overall membership of NAREDCO, resolution of land title ligations and interest subvention for the affordable housing segment, Babu underscored during an interaction with DH.
“Here (affordable housing) interest rates have to be brought down drastically - maybe again go back to 6.25-6.5 per cent,” he said.
During a career spanning about 45 years in the real estate industry, Babu served as president of the Andhra Pradesh Real Estate Developers Association. He also played an instrumental role in expanding NAREDCO’s Andhra Pradesh arm, with the establishment of 12 chapters and the enrolment of over 1,200 members.
Welcoming the new president, Chairman Niranjan Hiranandani said, "Naredco will continue to facilitate a two-way communication between industry and government to propel policy, sustainable development and perpetual growth.”