NAREDCO to launch Real Tech Fund of Rs 50 Cr to Support Real Estate Startups

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NAREDCO To Launch Real Tech Fund Of Rs 50 Cr To Support Real Estate Startups

This fund aims to boost the real estate industry in India using innovation and technology. Additionally, it will provide support to start-ups in the real estate sector.

Mumbai: The National Real Estate Development Council (NAREDCO) Maharashtra, which is the top organization of real estate developers, announced on September 7 that it will launch a RealTech Fund (RTF) worth Rs 50 crore during their annual event ‘The Real Estate Forum 2023’. The main aim of the fund is to accelerate real estate growth in India by supporting start-ups in the real estate sector and promoting innovation and technology.

According to a statement issued by NAREDCO, the developers have initially agreed to commit a corpus of Rs 50 crore, which will be increased based on the response to the fund. The event will also address various issues like government policies, private equity funding, real estate financing, navigating commercial and retail growth, and the future of redevelopment.

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“The Second Edition of the NAREDCO Maharashtra Real Estate Forum 2023 promises to be an insightful and influential gathering that will shape the future of Maharashtra’s real estate sector. With a lineup of esteemed dignitaries and industry experts, the event is set to foster growth, innovation, and collaboration in this dynamic field,” said Sandeep Runwal, President of NAREDCO-Maharashtra and Managing Director of Runwal Group.

The event is expected to be inaugurated by Maharashtra Housing Minister Atul Save, and senior government officers will also be present to share insights into the state’s real estate development. Among them will be IAS Valsa Nair, Additional Chief Secretary, Housing Department, IAS Sanjay Mukherjee, Metropolitan Commissioner, Mumbai Metropolitan Region Development Authority (MMRDA) and IAS Praveen Darade, Principal Secretary of Environment Department.

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