NAREDCO Nextgen, the youth wing of National Real Estate Development Council ( NAREDCO) ,an apex body, formed under the aegis of the Union Ministry of Housing and Urban Affairs, recently announced the launch of three state chapters of Rajasthan, Andhra Pradesh and Telangana .NAREDCO Nextgen India’ has been formed under the leadership of Jay Morzaria of Vraj Group to empower young entrepreneurs and encouraging participation of youth in the real estate sector and allied fields. It strives to create an environment where youth in 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 launched NEDEx, an idea-sharing and conversation-led platform for the industry that will focus on creating futuristic communities. It will help the industry body 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 announced this at its yearly event, NAREDCO NextGen Excelerate: Sales and Marketing 1.0. This year’s Excelerate was centred on the theme of sales and marketing.
On this occasion, NAREDCO’s youth wing also signed a Memorandum 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 the sales outreach through collaborative initiatives like quality summits, training and capacity building. These will also ensure that NAREDCO’s members get discounted rates from these partner firms.
Launched in December 2021, NEXTGEN’s objective is to attract youth to the real estate industry. Speaking on this occasion, 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. 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 hold great potential”.
Commenting on the relevance of Nextgen, the tie-ups and NEDEx, Jay Morzaria, President, NAREDCO NEXTGEN INDIA said, “ 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 is seen 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, fuelling 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 and there will be 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 through a series of panel discussions, which included a discussion on the ‘Use of the internet and digital media ein the RE Space’, ‘Preparing Innovative Financial Models for Sales and Marketing’, ‘Transformation & Disruption in Indian Real Estate – Then, Now & Next’ by Anuj Puri, Chairman, Anarock Prope rty Consultants, ‘Future of Workspaces’, besides a fireside conversation with Dr Niranjan Hiranandani, MD Hiranandani Group and Vice Chairman, NAREDCO India.