DELHI: A delegation of National Real Estate Development Council members, led by the Union Housing Minister Girija Vyas, will visit Dubai to study ways to develop the real estate sector here, according to a press release.
Navin Raheja, President of NAREDCO, said the objective of the tour is to study and explore the possibility of bringing in new construction technologies, foreign direct investments, including investments by NRIs, speed up construction and financing of housing and real estate projects in India, besides studying their Real Estate Regulation Act and Project Approval Procedures.
NAREDCO is organising the tour of Dubai from September 6 to September 8.
Dubai has one of the fastest-approving and decision-making authorities, which issues clearances such as high-rise, environment, and heritage within the shortest possible time. A study and meeting will be done to improve the systems and procedures here to bring down construction costs.
The delegation will have representation from Central and State Governments, public and private sector entrepreneurs including bankers, consultants and manufacturers.
The Council, responsible for policy formulation, was established in 1998 as an autonomous and self-regulatory body with Minister of Housing as its chief patron.