NAREDCO sets up committee to help builders access funds.

The National Real Estate Development Council (NAREDCO), under the Ministry of Housing and Urban Affairs (MoHUA), formed a National Finance Committee (NFC) at NAREDCO's 24th Annual General Meeting to provide developers with easy access to funds based on merit and viability of the projects.

The committee will operate as a one-stop shop, merging financing options from multiple major financial institutions. Commercial bankers and Resurgent India Ltd will be actively involved in the NFC, NAREDCO said in a statement.

The NFC will also support large-scale projects to access funds through financial institutions and train members to improve their creditworthiness.

Rajan Bandelkar, national president of NAREDCO, said in a statement that NFC was established to help industry and developers and bring liquidity into the system and also help consumers with turnkey projects.

“The creation of NFC will help us create a pipeline of project deliveries over the coming quarters and years, as well as help consumers get mortgages when needed,” said Bandelkar.

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