The NAR (National Association of Realtors) India 2010 second annual convention is to be held for two days on July 16 and 17. The venue for the convention is The Radisson Resort Temple Bay at Mamallapuram in Chennai.
Chennai Real Estate Agents Association (CREAA) is the aegis body for the two day meeting. The agenda for the convention is the introduction of best global practices in real estate sector in India.
Some of the objectives of the get together can be listed down as following:
(a) Promoting of code of ethics and fair practices among realty developers,
(b) Establishing a better understanding among stakeholders and others involved in the realty industry and
(c) Building strategies by formulating transparency in all business activities related to the huge industry.
It is believed that the convention will act as a great platform even for brokers pan India as a vision statement is said to emerge during the meet. Now known as consultants, the broking community is set to enjoy an elevated status ultimately raising the overall standard of real estate business in the country. Not only would the convention help add credibility to the realty business but also promote quality property transactions.
The speakers at the convention include Managing Directors of some of the rapidly developing realty builders like Olympia Park, Akshaya Homes, SSSDPL, Parsvnath and Prestige Group. The $35 billion real estate industry was at its best in 2007 with property developments and capital values observing an upward trend. After the recession, it is again back with a bang and witnessing an all time high with capital and rental values soaring high across the country. The demand for housing, offices, retail outlets, multiplexes, etc. is growing tremendously but the supply is not enough, resulting in inflated property prices.
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