The National Association of Realtors-India (NAR-INDIA) and the National Real Estate Development Council (NAREDCO) have signed a Memorandum of Understanding (MoU) to establish a collaborative framework that promotes professional excellence, industry growth, and policy advocacy in the real estate sector.

The MoU aims to enhance industry standards, facilitate knowledge exchange, promote skill development and training, and strengthen networking and collaboration among real estate professionals. Both organizations will work together to promote ethical practices, transparency, and professionalism in the real estate sector by developing and implementing industry standards.

The partnership will also focus on promoting skill development and training in the real estate sector. NAR-INDIA will support NAREDCO's National Institute of Real Estate Development (NIRED) by providing 100 candidates for training programs and workshops throughout the year.

G Hari Babu, National President, NAREDCO, said, “This MoU represents a significant step towards transforming India’s real estate industry into a globally competitive and professionally driven sector. By collaborating with NAR-INDIA, we aim to raise industry standards, bring in greater transparency, and advocate for policies that promote sustainable growth. This partnership will empower realtors and developers to align with global best practices, ultimately benefiting homebuyers and investors.”

Sumanth Reddy, Chairman, NAR-INDIA, added, “The real estate industry is evolving rapidly, and professionalism, ethics, and innovation are now more critical than ever. Through this MoU, we are creating a collaborative ecosystem where realtors and developers can exchange knowledge, enhance skills, and contribute to a more structured and efficient industry. Our goal is to uplift the standards of real estate transactions and ensure a better experience for customers.”

Under the MoU, NAR-INDIA and NAREDCO will jointly develop industry standards, exchange information on the latest developments in the real estate sector, and share key data, statistics, and research reports. They will also cross-promote relevant news, developments, and events on their respective websites and communication channels.

“I wholeheartedly welcome the historic MoU between NAR-INDIA and NAREDCO, a significant milestone in India's real estate sector. This partnership will undoubtedly elevate industry standards, promote transparency, and foster professionalism. This collaboration will have a far-reaching impact on the sector, benefiting not just realtors and developers but also home buyers and investors,” said Mr. Abhishek Jain, Chairman, Association of Property Professionals Delhi NCR.

This MoU marks a significant milestone in the efforts of NAR-INDIA and NAREDCO to promote professional excellence, industry growth, and policy advocacy in the real estate sector. With this partnership, both organisations aim to create a more collaborative and growth-oriented real estate ecosystem in India.