September 2017 \ Cover Story \ COVER STORY: BUSINESS PROFILE AND INTERVIEW
GUIDING REAL ESTATE SECTOR IN TOUGH TIMES

Motivational speaker Robert Schuller famously said, “Tough times don’t last, tough people do.” His words sit well on the broad shoulders of Mr Praveen Jain, President of NAREDCO. Over the years, Mr Jain has been witness to many tough times through which India’s largely unregulated real estate sector has sailed. But he has survived those times. Even though not everybody in the sector is trying to make a quick buck, there are a few black sheep that have today brought the industry down on its knees. As President of NAREDCO, he is in a position of power and influence to guide the industry in what can be considered real estate’s toughest phase yet. With numerous projects delayed for years, there is hardly any acchee din in sight for buyers and investors. Several builders are bombarded with a slew of cases in courts, police stations and tribunals. It is a testing time for Mr Jain. He’s navigated in choppy waters earlier, and knows that the present crisis is actually an opportunity in disguis

By Yogesh Sood

The National Real Estate Development Council strives to be the collective force influencing and shaping the real estate industry. It seeks to be the leading advocate of developing standards for efficient, effective, and ethical real estate business practices, valued by all stakeholders of real estate sector and viewed by them as crucial to their success. NAREDCO works to create and sustain an environment conducive to the growth of real estate industry in India, partnering industry and government alike through advisory and consultative processes.

Mr Parveen Jain’s role has been outstanding in NAREDCO in bringing forth the various issues and problems being faced by the Real estate sector, in giving suggestions on how to solve them, by holding discussions, meetings, seminars and conferences with the government and various stakeholders regarding the same. This has resulted in various reforms, for example- Affordable housing sector having been given ‘Infrastructure status’ and RERA having taken into account the various issues for the benefit of the Real estate sector.




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