The National Real Estate Development Council (NAREDCO) has launched its Uttarakhand chapter, marking a significant milestone in the state's real estate development. NAREDCO, the national body representing the real estate sector, aims to foster growth, promote transparency, and advocate for policy reforms. This move is expected to boost the local economy, create jobs, and enhance real estate revenue.

The state's Minister of Housing & Urban Development, Shri Premchand Aggarwal, emphasised the development potential in Uttarakhand, noting the rapid population increase in the state's major cities. He mentioned that the government plans to develop 22 new townships to generate employment and boost real estate revenue. Additionally, he highlighted the importance of environment-friendly townships that incorporate sustainable practices such as renewable energy, efficient waste management, and green building materials. This approach aims to preserve Uttarakhand's natural beauty while providing healthier living conditions. He also pointed out that creating local employment opportunities could prevent youth migration to other states and that the synergy between real estate and tourism would further boost the local economy.

Ganesh Joshi, the state's Minister of Agriculture, pointed out that Uttarakhand's status as a tourist state offers immense potential for real estate development. He highlighted the constant flow of tourists, pilgrims, and travel enthusiasts throughout the year. Due to land scarcity in metro cities, companies are increasingly focusing on smaller towns, and the growing technology sector requires more residential space for professionals. Joshi suggested that Dehradun is being encouraged to develop into theme townships to cater to this demand.

NAREDCO's National President, G Hari Babu, expressed excitement about the new chapter, stating that it would serve as a catalyst for growth and development in Uttarakhand's real estate sector. He remarked that Uttarakhand holds significant potential for investment and offers a conducive environment for the industry to thrive. Through the new chapter, NAREDCO aims to promote best practices, foster innovation, and advocate for policy reforms to elevate the state's real estate industry.

Dinesh Kapila, Economic Advisor at the Ministry of Housing and Urban Affairs, highlighted the unique geographical opportunities for real estate growth in Uttarakhand, ranging from serene mountain retreats to bustling urban centres. He noted that improving infrastructure and connectivity are attracting both domestic and international investors. Kapila also mentioned that the focus on sustainable development is balancing economic growth with environmental preservation and that the rise of remote work has increased interest in Uttarakhand as a destination for second homes and co-working spaces.

The NAREDCO Uttarakhand chapter will focus on several key objectives, including advocacy and policy reforms, knowledge sharing and capacity building, and industry collaboration. Rajan Bandelkar, Vice Chairman of NAREDCO, stressed the importance of close collaboration between the government and industry stakeholders, given that land is a state subject. He emphasised the need for transparent policies, efficient approvals, and conducive regulatory frameworks to attract investments, generate employment opportunities, and contribute to the state's economic growth.

Manoj Joshi, President of the NAREDCO Uttarakhand Chapter, highlighted the chapter's commitment to creating a favourable regulatory environment that encourages sustainable growth and investment in the real estate sector. He mentioned that the chapter would undertake research and analysis to provide valuable insights into the real estate market, identify trends, and inform industry stakeholders and policymakers. Joshi also noted that the chapter would facilitate networking opportunities, foster partnerships, and encourage collaboration among real estate developers, industry experts, and other stakeholders to drive collective growth and development.

The launch of the NAREDCO Uttarakhand chapter is expected to strengthen the real estate sector in the state, attract investment, and create employment opportunities. With its vast network and industry expertise, NAREDCO aims to contribute significantly to the overall growth and prosperity of Uttarakhand. The organisation invites real estate developers, builders, industry professionals, and stakeholders to join the Uttarakhand chapter and utilise the platform to shape the future of the state's real estate sector.