Naredco signs MoU with Warehousing Association over land-related issues

Alok Gupta DG, NAREDCO, exchanging MoU with Sunil Tyagi, honorary secretary, WAI.

National Real Estate Development Council (NAREDCO), a real estate body that works under the aegis of Ministry of Housing and Urban Affairs, has signed a Memorandum of Understanding (MoU) with Warehousing Association of India (WAI). This pact is expected to address construction and land-related difficulties that warehousing developers often face.

WAI’s members comprise mainly developers and operators of warehouses, as well as those stakeholders that are associated with the warehousing industry.

Aside of addressing construction and land-related difficulties that warehousing developers confront, the MoU also endeavours to resolve regulatory obstacles. The realtors' body and warehousing developers will look to collaborate to address issues concerning regulators, licensees, permits, approvals and operation of warehousing and logistics businesses, Naredco said in a statement.

The partnership will also look to create guidelines for running warehouses efficiently, effectively and ethically.

“With the signing of this MoU we have paved the way for partnership and collaboration to solve the problems of construction and land-related difficulties that warehousing developers confront. Dissemination of knowledge by both the bodies will bring great value and learnings to the industry. In addition, the NAREDCO members will make a huge contribution to the effort of standardisation of warehousing infrastructure and land related assets,” said Rajan N Bandelkar, president, NAREDCO.

Sunil Tyagi, honorary secretary, Warehousing Association of India said, “Our signing the MOU with NAREDCO  will help promote the interests of warehousing industry in India. Our aim is to work with various industry leaders/organisations to achieve the goals we have set up for WAI.”