NAREDCO NEXTGEN Holds Excelerate

Three state chapters launched and idea-sharing platform NEDEx announced at annual event.

NAREDCO NEXTGEN, the youth wing of National Real Estate Development Council (NAREDCO), an apex body, formed under the aegis of the Ministry of Housing and Urban Affairs, Government of India, announced the launch of three state chapters — Rajasthan, Andhra Pradesh and Telangana — on July 1 in Mumbai at its annual event, NAREDCO NextGen Excelerate: Sales and Marketing 1.0.

Launched in December 2021, NAREDCO NEXTGEN INDIA has been formed under the leadership of Jay Morzaria, Vraj Group, to empower young entrepreneurs and encourage participation of youth in the real estate sector and allied fields. NEXTGEN strives to create an environment where youth in the real estate sector can come together to share experiences, harness their skills, draw on their resources, influence, grow together and bring about lasting change.

NAREDCO NEXTGEN also announced the launch of NEDEx, an idea-sharing and conversation-led platform for the industry that will focus on creating futuristic communities. It will help the industry in implementing innovative promotion strategies, too. The NEDEx platform will help the industry in discussing and implementing innovative financial models of sales and marketing, devise new ways of advertising and branding for macro and micro-markets and harness the potential of social and digital media.

NAREDCO’s youth wing NEXTGEN also signed Memorandums of Understanding (MoUs) to bring efficiency in sales and promotion and launch new innovative sales initiatives with industry alliances. The MoUs will help bridge the knowledge gap in the sector through better insights and enhance sales outreach through collaborative initiatives like quality summits, training and capacity building. These will also ensure that NAREDCO’s members get discounted rates from partner firms.

Rajan Bandelkar, national president of NAREDCO, said:

“NextGen Excelerate was aimed to bring all stakeholders of NAREDCO and innovators under one umbrella to discuss new alliances. We aim to attract more and more youth to the real estate sector and benefit from the energy and innovation that the segment can bring to the table.

“The industry needs stronger collaboration between various stakeholders, including the development fraternity, architects and design firms, urban planners, sales aggregators, international property consultants, research firms, proptech partners, digital agencies and outdoor advertising partners. The renewed partnerships ensure that the sector’s future is bright and holds potential. And our youth wing NEXTGEN is here to accomplish that. Our NEDEx platform will offer solutions against all the challenges.”

Commenting on the relevance of NEXTGEN, the tie-ups and NEDEx, Jay Morzaria, president, NAREDCO NEXTGEN INDIA, said:

“It is safe to say that the future of the real estate industry depends on the success of the youth. Over the past decade, the sector has seen a transformation and has witnessed more and more millennials going for home ownership. Real estate ownership is not just seen as a basic necessity but as a hedge against economic uncertainty and upheavals like the one we witnessed during the COVID-19 pandemic. Homebuyers’ perspectives have changed in the past two years. The scenario propelled the demand for home ownership. NEXTGEN will leverage the existing insights and channels for better promotion of projects. The collaboration will unlock the various challenges that the industry faces today on the sales and promotion front. It would mean better use of insights. Our new platform, NEDEx, will help bring a more solution-oriented approach.”

At the NEXTGEN Excelerate event, industry veterans came together to discuss some of the key issues with a series of panel discussions, one of which focused on the use of the internet and digital media in the real estate space and preparing innovative financial models for sales and marketing; and presentations including “Transformation & Disruption in Indian Real Estate – Then, Now & Next” by Anuj Puri, chairman, ANAROCK Property Consultants; “Future of Work Spaces,” and a fireside conversation with Dr. Niranjan Hiranandani, managing director, Hiranandani Group and vice chairman, NAREDCO.