Naredco-Maharashtra Partners with IFC for Sustainable Real Estate

New Delhi, Jan 30 (PTI) Realtors' body Naredco's Maharashtra chapter has partnered with the International Finance Corporation (IFC) EDGE team to promote sustainable real estate practices and the development of green buildings.

"They will work together to unlock global financing opportunities that will not only drive growth in the real estate sector but also focus on sustainable practices, ensuring that India moves towards a greener, more environmentally conscious future," Naredco Maharashtra said in a statement on Thursday.

The Letter of Collaboration was signed by Diep Nguyen van-Houtte, Global Senior Manager of the Climate Business Department at IFC; Autif Sayyed, Green Building LEAD for South Asia at IFC; and Ridham Gada who signed it on behalf of NAREDCO Maharashtra.

Ridham Gada is currently the President of NAREDCO Maharashtra NextGen.

According to this partnership, the IFC EDGE team will provide technical expertise on green building standards by conducting knowledge sessions at selected Naredco's chapters.

Naredco-Maharashtra will support these efforts by organising knowledge sessions with its various chapters, advocating for the inclusion of EDGE standards in local and state incentive programmes.

This collaboration promises to empower NAREDCO's member community with the tools and insights needed to drive the widespread adoption of sustainable real estate practices, positioning Maharashtra as a leader in green building development.

Prashant Sharma, President of Naredco-Maharashtra, said, "IFC's unparalleled expertise in sustainable development and their global experience in financing green projects resonate with our vision to create a future where sustainable buildings are the norm. Collectively, we will enable stakeholders to spearhead meaningful, sustainable change and create environmentally friendly, intelligent cities of the future."

Through these concerted efforts, Naredco-Maharashtra aims to empower the real estate industry to build smarter, more sustainable cities that meet the challenges of climate change, reduce carbon footprints, and contribute to a greener, more resilient future for the people of Maharashtra, the statement said.