May 27, 2024
NAREDCO Maharashtra will introduce a Rs 50 crore fund to assist real estate start-ups and innovation.

NAREDCO Maharashtra will introduce a Rs 50 crore fund to assist real estate start-ups and innovation.

The fund pledges to promote and accelerate the expansion of India’s real estate market through innovation and technology, as well as to support real estate start-ups.

The National Real Estate Development Council (NAREDCO) of Maharashtra, an apex body of real estate developers, said on September 7 that it will launch a Rs 50 crore RealTech Fund (RTF) at their annual event ‘The Real Estate Forum 2023’ to accelerate real estate growth.

NAREDCO said in a statement that the real estate developers have initially committed a corpus of Rs 50 crore, which will be scaled up depending on the fund’s response.

The fund pledges to promote and accelerate the expansion of India’s real estate market through innovation and technology, as well as to support real estate start-ups.

The developers have initially pledged Rs 50 crore, which will be increased based on the fund’s reaction, NAREDCO said in a statement.

This real estate discussion will cover a wide range of topics, including government legislation, private equity investment, real estate finance, navigating commercial and retail expansion, and the future of redevelopment.

“The NAREDCO Maharashtra Real Estate Forum 2023, in its second edition, promises to be an insightful and influential gathering that will shape the future of Maharashtra’s real estate sector.” “With a lineup of esteemed dignitaries and industry experts, the event is set to foster growth, innovation, and collaboration in this dynamic field,” said Sandeep Runwal, chairman of the event’s organizing committee.

NAREDCO-Maharashtra President and Runwal Group Managing Director

Meanwhile, Maharashtra Housing Minister Atul Save is slated to host the event, and key government officials will also be there to provide insights on the state’s real estate growth.

IAS Valsa Nair, Additional Chief Secretary of the Housing Department; IAS Sanjay Mukherjee, Metropolitan Commissioner of the Mumbai Metropolitan Region Development Authority (MMRDA); and IAS Praveen Darade, Principal Secretary of the Environment Department, would be among them.

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