What is the role of real estate governing bodies in India?
As a result of the need of the hour, the real estate governing bodies in India were established to keep track of agreements and procedures and to regulate the entire real estate market. It reduces the occurrence of fraud in the real estate market while also protecting the rights of investors and buyers.
There are some significant real estate governing bodies in India, each of which contributes differently to promoting best practices in the market.
Top real estate governing bodies in India
Here is a list of real estate governing bodies in India that regularly legalize the entire real estate investment process –
- NAREDCO
National Real Estate Development Council (NAREDCO) was founded in 1998 with the support of the Ministry of Housing and is an independent self-regulatory agency in India. Since then, this platform has regulated the real estate market for the general public’s benefit. By offering suitable answers to the challenges, it handles all the worries and issues surrounding the real estate sector.
Setting a higher standard for marketing, building, selling, and other aspects of real estate operations has been NAREDCO’s guiding principle for years. They are essentially the real estate industry’s catalyst, actively working to promote the sector’s economic growth.
- NAR INDIA – National Association of Realtors
The national association of realtors in NAR INDIA aims to “connect, collaborate, and cultivate.” It essentially supports the networking of Indian realtors in order to increase their productivity and turn numerous inquiries and searches into growing real estate investments. When realtors band together, their collective voice significantly aids in business expansion. Additionally, it promotes purchasers’ trust in making real estate investments.
Every year, thousands of investors connect with NAR INDIA to venture into the real estate market for their own or as an investment with the goal of a profitable future. They are distributed widely around the nation and have connected well-qualified realtors from different areas to match the needs of investors with the availability of investment options across the country. It is one of India’s highly appreciated real estate governing bodies that have consistently made into the requirements of their investors.
- CREDAI [Confederation of Real Estate Developers Association in India]
The Confederation of Real Estate Developers Association in India (CREDAI) began operations in 1999, intending to achieve the nation’s housing and habitat needs. This network also facilitates the latest real estate data, advances, validations, technological advancements, and industrial benchmarks for those just starting their careers.
This organization, CREDAI, was created primarily to build a paradigm for urban infrastructure that would facilitate infrastructure development with surplus status to satisfy investors’ investment goals. Additionally, they provide an overwhelming contribution to the nation’s GDP. It is committed to improving its members’ understanding while utilizing all the aesthetics and execution used for routine integration. In order to acquire the trust and credibility of the people who invest in CREDAI and the respect of its stakeholders, they have also developed a clear code of conduct for all real estate.
- AIREAA – All India Real Estate Agent Association
AIREAA all-India real estate agent association came into existence in 2010. It is India’s leading real estate governing body, having a centralized directory of real estate agents all across the country. They support all their real estate agents, confining them into established national-level agents.
They focus on conducting in-depth research for all real estate trade transactions and promoting the country’s economic growth and development. The emphasis is on establishing, maintaining, and raising funds to demonstrate and educate people on real estate investment, asset management, and other related knowledge through various seminars, exhibitions, workshops, and demonstrations at conferences.
They carry out all the country’s real estate development activities, directly or indirectly. They also conduct research projects that contribute to the country’s economic development by regularly bringing in new projects.
Invest in India’s real estate market today
With so many contemplated real estate governing bodies in India, one can now confidently invest in the real estate market. According to projections, 2022 will be very promising, with great potential in both the commercial and residential sectors. It would be great if you approached the leading real estate developers in town, to get the best potential investment property at the right time for the best ROI.
Conclusion
If you want to invest in the real estate market, the Indian real estate market is the place to be. The real estate governing bodies in India not only guarantee a good ROI on a commendable property transaction but also ensure legal and forgery-free transactions. G Square is South India’s largest and Tamil Nadu’s No. 1 real estate developer in the real estate market. We are the preference of all the big industrialists and corporations for their real estate investments. You can also work with the fastest-growing real estate developer by connecting with us through our website.
