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Introduction

Real estate in India makes an enormous contribution to development of the economy, national growth and GDP. Real estate is the largest employment generator, perhaps only after agriculture. However, despite the significance of this industry, it has always remained a very disorganized one. While the building materials, construction equipment, financers and developers have fairly improved business practices, the transaction processes are in need of urgent reform. The realtors or brokers who provide the advice, information and negotiate the deals and in short, make the markets are the most important human resource in the business chain. So unless this segment of the real estate industry is reformed and elevated to international standard practices, investor confidence is at stake.

India has several thousands of realtors or brokers operating in over 35 metropolitan cities. They represent interests of large corporations on the one side and domestic consumers on the other. NAR-INDIA has been fashioned not only as a single national level umbrella organization representing the interests of thousands of realtors/brokers operating all over the country, but also an organization which aims to elevate the standards of practice of the real estate brokerage business to a global level where ethics, transparency, accountability, rule of law and good governance prevail.

NAR-INDIA is the credible voice of realtors in India. The National Association of Realtors – India (NAR-INDIA) has been registered in June, 2007, as a non-profit society under the Societies Registration Act of India. NAR-INDIA is headquartered at New Delhi.

Objectives

NAR-INDIA has been set up for the public good, providing quality service, ensuring consumer satisfaction, creating credibility in the industry and facilitating profits for the practioners. The objectives of NAR_INDIA are to streamline and promote the profession of real estate brokerage in India in order to achieve transparency, accountability, fair dealing and ethical practices for overall good governance in the industry.

Code of Ethics

NAR-INDIA follows a code of ethics that establishes obligations that may be higher than those mandated by law, though in any instance where the Code of Ethics and the law conflict, the obligations of the law must take precedence. The organization recognizes that the interests of the nation and its citizens require the highest and the best use of the land and the widest distribution of land ownership. They require the creation of adequate housing, the building of functioning cities, the development of productive industries and farms, and the preservation of a healthy and sustainable environment.

Partnerships

Internationally we have partnered with the best fro exchange of ideas and knowledge.

In the domestic arena, we have partnered with the National Housing Bank (NHB), subsidiary of the Reserve Bank of India (RBI), for developing RESIDEX, the official residential real estate index of India.

Membership

1. Member Association
Any association of real estate brokers/ agents/ consultants in any city in India can join NAR-INDIA by signing up our Charter Agreement. For more details, please contact Hon.Secretary, NAR-INDIA at email: secretary@narindia.com

2. Membership at Large
What is there a NAR-India’s Membership at Large Category? NAR-INDIA is an association of associations. It admits only associations as its members. However, in some cities in India, there are no real estate associations who are members of NAR-INDIA, while there are persons there who are interested to join NAR-INDIA. Do not hesitate to contact us.

3. Institutional Associate Member
Any institution associated with the business of real estate vis. Banks, Housing Finance Institutions, etc. Benefits include

• Access to mailing directory of all NAR-INDIA members
• 4 delegate passes to NAR-INDIA Annual Conventions
• 1 Free Stall facility at the Annual Convention.

FEES : Rs. 3,00,000/- one time
DURATION of membership : 10 years

Benefits

The Key benefits of acquiring NAR-INDIA membership are:

• Beneficiary of a credible image of the realtor profession in India
• National and international level business networking opportunities
• Consumer recognition in local as well as global markets
• International visibility of local business thru’ global niche listing
• Platform for lobbying with governments for benefit of the profession
• Opportunity for skill upgradation through regular education programs, conferences & conventions
• Access to accepted standard procedures, practices and products
• Platform for grievance redressal and conflict resolution
• Access to the globally recognized REALTOR logo, subject to conditions.

Future

NAR-INDIA proposes to conduct the following major activities:

• Provide access to skills, education and best practices
• Act as a common voice of the brokerage community
• Conduct conferences, events, exhibitions, lectures, etc.
• Establish bilateral and multilateral relationships
• To undertake market research and disseminate information
• To lobby with governments at national, state and local levels
• To ensure that every member subscribes and follows the Code of Ethics

For more information visit the NAR India website at www.narindia.com