NAREDCO Maharashtra Launches Rs 50 Crore RealTech Fund to Drive Real Estate Innovation

    Date:

    Share post:

    NAREDCO Maharashtra is set to launch a significant initiative aimed at bolstering innovation and technological advancements within the Indian real estate sector, while also extending support to startups in this domain. Announced during their annual event, ‘The Real Estate Forum 2023,’ the organization will introduce the RealTech Fund (RTF) with an initial corpus of Rs 50 crore.

    The primary objective of the RTF is to propel and expedite growth within India’s real estate industry by harnessing the potential of innovation and technology. Furthermore, it will play a pivotal role in nurturing startups operating within the real estate sector.

    NAREDCO Maharashtra, an apex body representing real estate developers, expressed their commitment to allocate Rs 50 crore to this fund initially. However, they remain open to scaling up the fund’s size based on the response and demand it garners. The Real Estate Forum 2023, where this initiative was unveiled, serves as a platform for discussions on various critical topics, including government policies, private equity funding, real estate financing, commercial and retail growth strategies, and the future of redevelopment, among others.

    Sandeep Runwal, President of NAREDCO-Maharashtra and Managing Director of Runwal Group, emphasized the significance of this event, stating, “The Second Edition of the NAREDCO Maharashtra Real Estate Forum 2023 promises to be an insightful and influential gathering that will shape the future of Maharashtra’s real estate sector. With a lineup of esteemed dignitaries and industry experts, the event is set to foster growth, innovation, and collaboration in this dynamic field.”

    The event is expected to be inaugurated by Maharashtra Housing Minister Atul Save. Additionally, senior government officials will participate in the event, sharing valuable insights into the state’s real estate development landscape. Among these distinguished guests are IAS Valsa Nair, Additional Chief Secretary, Housing Department; IAS Sanjay Mukherjee, Metropolitan Commissioner, Mumbai Metropolitan Region Development Authority (MMRDA); and IAS Praveen Darade, Principal Secretary of the Environment Department.

    Also read: G20 Prompts Call for Nationwide Creation of ‘National Real Estate Assets’ by Urban Design Experts

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Related Posts

    Latest posts

    Nearly 20 Premium Malls Set to Open by 2026 in Top Indian Cities: Report

    NEW DELHI (AP) — India is poised to see a major expansion in its premium retail infrastructure, with...

    GDA to Introduce Slot System for Property Registrations in Ghaziabad

    The Ghaziabad Development Authority (GDA) will soon launch a slot-based registration system for property buyers in an effort...

    Top Seven Indian Cities See Strong Office Leasing Growth: Vestian

    India’s top commercial real estate markets witnessed robust momentum in 2024, with leasing activity and office rental rates...

    Amaravati Capital City Project Resumes After Five-Year Pause

    Construction has recommenced on the ₹65,000 crore Amaravati capital city project in Andhra Pradesh, marking a significant revival...