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NAREDCO members commit aboutRs 90,000 crore investment inHaryanaThe MoUs were signed between the Haryana government and the members of National RealEstate Development Council (NAREDCO) in the recently concluded Happening Haryana GlobalInvestors Summit in March this year
Sanu Sandilya | ETRealty |
NEW DELHI: A total of 13 membersof builders' body NAREDCO havejointly committed about Rs 90,000crore investment in Haryana in thenext 5 years, led by realty majorsM3M and DLF.
The MoUs were signed between theHaryana government and themembers of National Real EstateDevelopment Council (NAREDCO) inthe recently concluded HappeningHaryana Global Investors Summit inMarch this year.
While M3M Group led the investments in Haryana in the next five years with Rs 45,365 crore, DLFcommitted to invest Rs 20,000 crore. The other major companies in the list include OrrisInfrastructure with Rs 8,000 crore, Suncity Projects with Rs 4,662 crore, Ansal Properties &Infrastructure with Rs 2,370 crore, Tulip Infratech with Rs 1,955 crore, Jindal Reality with Rs1,800 crore, among others.
"The investment would be in residential and commercial segments, with special focus onaￛordable housing in Haryana," said Parveen Jain, President, NAREDCO.
The realtors' body has recently also urged the Centre to include Gurgaon in the 100 Smart Cityprogramme, of which the names of 33 cities have already been announced.
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17 June 2016, 4:24 PM IST
It has also appreciated the decision of the Haryana government to increase the FAR (floor arearatio) to double for buildings in the surrounding areas of the proposed extension of Metro line inGurgaon.
In the proposed metro route in Gurgaon, the proposed FAR will be increased from 1.75 to 3.5 forthe distances upto 500 metres from the metro route. For the distances 500 metres to 800 metresfrom the metro route, the FAR will increase from 1.75 earlier to 2.5.
"This proposal will be the most beneficial for the end-users and the land owners and a win-winsituation for all in context of level playing field," said Jain.
Taking account of the recent cases of project delays, the realtors' body has also asked on itsmembers to fulfill commitments their firms have made to home buyers in their various projectsin a transparent manner.
NAREDCO has seen few top level changes recently. Rajeev Talwar, CEO of DLF was recentlyelected as new chairman of the realtors' body in April, while Parveen Jain, CMD of TulipInfratech, was elected as President of the NAREDCO in September last year.
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