Adopt advance construction technologies for housing: NAREDCO

NEW DELHI: Real estate developers should adopt advance construction technologies for faster execution of housing projects, realtors' industry body said today.

The developers should adopt modern construction technologies for completing housing projects within 12 months as against nearly 30 to 36 months at present, NAREDCO President Navin Raheja said at a conference.

"This would help in construction of housing on a massive scale and minimise the shortage of housing in coming years, particularly lower income groups," he said in a statement.

Speaking on the occasion, Y S Malik, Financial Commissioner & Principal Secretary, Department of Industries, Commerce & IT, Haryana called upon planners and real estate developers to adopt long term vision of 100 years and beyond with a provision for in built flexibility of revision of master plan every 5 years.

Malik said this while inaugurating a seminar on 'Emerging Frontiers for Spatial Planning: Development of Human Resource for Promoting Real Estate and Property Management' organised by National Real Estate Development Council (NAREDCO) and The Institute for Spatial Planning and Environment Research ( ISPER).