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Centre government affiliated NAREDCO sets up state wing

Taking advantage of the cold war between city developers and poor leadership by Maharashtra Chamber of Housing Industry (MCHI), Central government affiliated National Real Estate Development Council (NAREDCO) has set up its state wing. Also, last Thursday, Hiranandani group chairman Niranjan Hiranandani has been appointed as the founding president.

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Most of the prominent city-based developers, including Lodha Group, Ekta, Nahar and Narang have joined Naredco.
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Taking advantage of the cold war between city developers and poor leadership by Maharashtra Chamber of Housing Industry (MCHI), Central government affiliated National Real Estate Development Council (NAREDCO) has set up its state wing. Also, last Thursday, Hiranandani group chairman Niranjan Hiranandani has been appointed as the founding president.

Most of the prominent city-based developers, including Lodha Group, Ekta, Nahar and Narang developers have also joined the NAREDCO. "We are not competing against each other. We are complimentary and supplementary to each other. I was also with MCHI for over a decade, so we are not against them. And, NARDECO has been set up to fight for developers' interest. We want to be their voice and earn good name," said Hiranandani.

When contacted MCHI-CREDAI president Darmesh Jain, was incommunicado. However, to avoid poaching, the MCHI on Thursday instantly circulated emails and text messages to its members warning that as per the MCHI-CREDAI clause No. 30 no developer can avail dual membership of any other real estate association.

"This restriction has been put to avoid misrepresentation and contrary representations about the sector. Therefore, requesting you to kindly note and comply accordingly. We may be forced to cease the MCHI-CREDAI membership of any developer having dual membership," read the mail.

A prominent developer from South Mumbai, who is also member of the MCHI-CREDAI, said that MCHI has ego issues and vision problems. "We are losing credibility. We asked the government for a date to fix up the real estate issues, but no one took us seriously. There was a time when MCHI was powerful, but now we have lost the sheen due to poor leadership. Therefore, most of the developers are flocking towards the newly formed NAREDCO," he said.

Narrating another incident, senior MCHI member told dna that after Suraj Parmar's death, they went to meet the chief minister Devendra Fadnavis. "We reached the chief minister's official residence –Varsha bungalow — and at the reception, we were informed a developers' group affiliated to NAREDCO is already sitting with the CM. The MCHI delegation changed their mind and decided to go back without meeting the CM. Such an attitude will not work," said MCHI-CREDAI member requested anonymity.

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