Hyderabad, August 6, 2019: Hyderabad is fast geariing up to host India’s biggest Real Estate event “11th NAR India Convention & Expo” at Hyderabad International Convention Centre (HICC) from 24-25th August 2019.
This is for the second time that the city of Hyderabad is hosting such a huge expo relating to real-estate in India.
Addressing a press conference here in the city today, Sumanth Reddy Arani, President—Hyderabad Realtors Association; President-Elect –National Association of Realtors—India said, the objective of this mega convention is to streamline and promote the profession of real estate and real estate brokerage in India so that we achieve transparency, accountability, fair dealing and ethical practices for overall good governance in the industry. The objective is also to promote ethical and standard business practices in real estate consulting.
Image of Real estate broker, who is now known as Realtor is not the same anymore. A career as a real estate broker is now highly valued and respected, he says.
Hyderabad plays a major role in realty sector in India. Two realtors from this city D. Sridhar Reddy and Vijay Saradhi has become its National Presidents. Now the third one Sumanth Reddy Arani is elected to be National President informed Shailender Singh, Chairman, NAR India convention.
Adding further he shared that there is a scarcity of Grade A Commercial Space in the Hyderabad city. The grade A Commercial space consumption is on the rise at 8mn Sft and inching towards Bangalore which consumer’s 13mn sft.
The government's thrust on urban development and infrastructure development comes to a big boost to the realtors' community. Addition of 25 million homes, 40 million dwelling units and 98 smart cities by 2022, has further enhanced the growth of the real estate and ancillary services sector.
The introduction of the Real Estate Regulation and Development Act has changed the dynamics of the sector. Additionally, RERA recognizes property agents, who are essential facilitators of real estate transactions.
RERA has done another good to the growth of the property finder’s fraternity in the country adds Shailender Singh, Chairman of NAR India Convention 2019. A professional real estate broker and agent has to register to be able to facilitate a real estate transaction going forward. A customer must insist on working with a RERA registered realtor to ensure accountability.
In order to remain relevant brokers they are needed to upgrade their skills through various educational programs offered by NAR INDIA, as their role evolves from just mere introducers to well informed key service providers or facilitators of a real estate transaction. This enhances their credibility and gives the customer a better service experience. It is also helping them to earn an additional fee based on their value-added offerings. Today the same old brokers emerged as the Property Transaction Specialists with informed knowledge on various verticals such as housing, office spaces, retail, warehousing, lands, conducting financial feasibility for projects etc he adds.