CII RealEstate360 Highlights Tricity’s Growth Potential and Push for Sustainable Development
17 October 2024, Chandigarh: The real estate market in the Chandigarh region is witnessing robust growth, driven by rising demand for residential and commercial properties. The Tricity area—encompassing Chandigarh, Mohali, and Panchkula—has seen an increasing preference for eco-friendly and sustainable housing, as homebuyers prioritize energy-efficient designs and green spaces. With ongoing development, the region presents significant potential for profitability in the real estate sector
The 2nd edition of RealEstate360, organized today at the CII Northern Region headquarters in Chandigarh by CII Chandigarh & the Indian Green Building Council (IGBC), provided a platform for industry leaders, experts, and stakeholders to exchange ideas and insights that can reshape the real estate landscape in the Tricity region.
In his address, the Chief Guest, Mr Charan Dev Singh Maan, Secretary, RERA Punjab, stated, “RERA Punjab focuses on protecting the interests of buyers, addressing disputes, grievances, and project delays, and ensuring government mechanisms are in place to address loopholes and malpractices in the real estate industry. The Authority is actively working to raise awareness among the public and encourage all real estate stakeholders to comply with the mandatory requirement for registration under RERA, applicable to properties exceeding 500 square meters or comprising more than eight units.”
He further added that with a commitment to fostering an environment of trust, transparency, and integrity, RERA Punjab aims to strengthen and sustain the confidence of the common man in the real estate sector.
Setting the context for the event, Mr Ashwinder R Singh, Conference Chairman and Co-Chairman, CII NR Committee on Real Estate, and Vice Chairman & CEO, BCD Group, remarked, “Indian real estate is entering an exciting new phase of growth, driven by urbanization, infrastructure development, and evolving consumer preferences. The Tri-City and Punjab region, with Chandigarh at its core, is emerging as a dynamic real estate hub, offering immense potential for residential, commercial, and industrial investments. CII continues to play a pivotal role in shaping the real estate landscape by fostering collaboration between stakeholders and advocating sustainable growth.”
Mr Amarbir Singh, Past Chairman, CII Chandigarh UT & MD, Indian Polymer Industries, added, “The conference aims to discuss the challenges and opportunities shaping the real estate sector today, including urban expansion, sustainable development, and regulatory improvements. CII Chandigarh is also advocating for the inclusion of key areas such as Zirakpur, Kharar, and Derabassi under the Greater Chandigarh Region, which has tremendous growth potential. Bringing together developers, architects, financial institutions, and other stakeholders, this event sets a benchmark for future editions and calls for continued collaboration.”
Mr Kalyan Chakrabarti, CEO, Emaar Ltd, highlighted in his keynote address, “The real estate sector is experiencing a new paradigm shift through innovation, sustainability, and changing consumer preferences. Moving forward, the industry must adopt innovative green technologies, and robust infrastructure. This conference provides the impetus & a platform for industry leaders to work towards shaping the future of the sector.”
Mr Akshay Taneja, Managing Director, TDI Infratech Ltd, underscored the importance of unity, stating, “The future of our country is in the hands of its people. Hence the noblest of the things to do is to get those people to work together and unite them to work towards a single goal of growth and prosperity. Federations such as CII are the epicentre for such conversations and open the gateway for organisations to come together for a single cause. It’s on us to utilise this opportunity to steer the tide.”
