Real estate in India makes an enormous contribution to development of the economy, national growth and GDP. Real estate has forward and backward linkages with over one hundred and sixty five industries and 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 materi
als, construction equipment, finance and builder segment of the industry have fairly improved their business practices and a reasonably good degree of professionalism has come about, the transaction processes continue to remain by and large backward and in need of urgent reform. The realtors or brokers who are the interface with the consumers in the transaction processes are the most important human resource and like in the business chain. They provide the advice, information and negotiate the deals and in short, make the markets. Unless this segment of the real estate industry is reformed and elevated to international standard practices, investor confidence will be difficult to emerge. Ultimately, on the one hand, it is the globalised investment opportunities in Indian economy which are at stake and on the other, the end consumers. 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. CGAR is the credible voice of Chhattisgarh Realtors.
