The Bangalore Apartments Federation (BAF) and the Real Estate Research Initiative (RERI) at the Indian Institute of Management Bangalore (IIMB) have signed an MoU to enhance awareness among homebuyers and residents in Bengaluru. This partnership aims to benefit nearly 1,300 apartment and villa RWAs, representing about 300,000 households, 1.5 million citizens. Key collaboration areas include research, knowledge generation, focusing on resource management, waste management, safety, and cultural integration. BAF President Vikram Rai highlighted the value of this partnership, while Prof. Venkatesh Panchapagesan noted that RERI's first initiative will involve training residents to manage their apartment associations effectively.
The Bangalore Apartments Federation (BAF) and the Real Estate Research Initiative (RERI) at the Indian Institute of Management Bangalore (IIMB) have entered into a strategic partnership through a Memorandum of Understanding (MoU). This collaboration is designed to enhance awareness, knowledge, and education among prospective homebuyers, current homeowners, and residential communities in Bengaluru.
The partnership aims to benefit nearly 1,300 apartment and villa resident welfare associations (RWAs), which collectively represent almost 300,000 households and approximately one and a half million citizens. By leveraging the strengths of both organisations, the initiative seeks to address key issues and promote best practices within the real estate sector.
BAF serves as the voice of Bengaluru's homeowners and residents, advocating for their interests and needs. Meanwhile, RERI-IIMB focuses on conducting interdisciplinary research to influence positive changes in the city's real estate landscape. Together, BAF and RERI-IIMB will generate valuable research and knowledge, developing white papers, publications, articles, and thought-leadership content that address the concerns and challenges faced by homebuyers and homeowners. This research is intended to shape government policies and regulations, ensuring they are more aligned with the needs of the residential community.
The partnership's initiatives will cover various aspects of resource management, including water and energy conservation, waste management, safety, security, health, sports, and cultural integration. These efforts aim to enhance the overall vibrancy and livability of the city, making it a better place for its residents.
Vikram Rai, President of BAF, expressed enthusiasm about the collaboration, noting that BAF has been a growing community platform for apartment residents across Bengaluru. He emphasised that the partnership with RERI-IIMB would bring significant value to the apartment residential community.
Prof. Venkatesh Panchapagesan, Chairperson of the Real Estate Research Initiative and a faculty member at IIMB, highlighted that this collaboration marks RERI's first major community-level engagement. He mentioned that their initial project would involve developing a training program with BAF to help residents become effective managers of their apartment associations.
Overall, this partnership between BAF and RERI-IIMB represents a significant step forward in promoting informed decision-making and best practices among Bengaluru's residential communities. Through research, education, and active engagement, the initiative aims to create a more sustainable and well-managed urban living environment.
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