Rental Housing Reforms Key to Sustaining Real Estate Growth: Dr. Niranjan Hiranandani at NAREDCO Maharashtra ‘Change of Guard’ Ceremony

Mumbai, April 9, 2026: To make ‘Housing for All’ a reality, rental housing must be pushed and incentivized through tax reliefs and policy reforms to ensure affordability at scale. With housing loans expanding rapidly, affordability in home buying has improved; but supply-side innovation like rental housing is essential to sustain this momentum and meet diverse urban needs,” said Dr. Niranjan Hiranandani, NAREDCO and Managing Director, Hiranandani Group, while speaking at NAREDCO Maharashtra’s ‘Change of Guard Ceremony’ held in Mumbai today.

In a milestone ‘Change of Guard’ ceremony, Kamlesh Thakur, Founder and Managing Director of Srishti Group became the new President of NAREDCO Maharashtra and received the baton from the preceding President Prashant Sharma. In this formal transition of leadership from the outgoing President, Prashant Sharma, to the incoming President, Kamlesh Thakur, NAREDCO Maharashtra’s new leadership announced its progressive agenda focused on ‘all-inclusive’ approach to bring policy advocacy, transparency and sectoral growth.

On this occasion, NAREDCO Maharashtra launched an innovative and the first-of-its-kind ‘NAREDCO ONE’ Digital App aimed at bringing all the NAREDCO Maharashtra Developer-members on one digital platform for better interaction, information and progressive journey.

Setting the agenda for the new leadership, Kamlesh Thakur, new President of NAREDCO Maharashtra presented his a forward-looking vision for the sector and said, “NAREDCO Maharashtra will continue to carry on the legacy and work for betterment of the sector. There is a need for enhanced ease - of – doing - business, digitisation of approvals and increased collaboration with government bodies to accelerate the pace of the real estate industry.” The outgoing President, Mr. Prashant Sharma, reflected on the organisation’s achievements and reiterated confidence in the new leadership’s ability to build on the established foundation. As part of the new leadership team, Mr. Jay Goenka was announced as the Secretary and Mr. Manan Shah as the Treasurer, reinforcing a strong and dynamic governing council for the upcoming term.

In a panel discussion organised on the sidelines of the event, Dr Hiranandani emphasised on the critical role of rental housing in shaping the future of India’s real estate sector and called for policy support and innovation to ensure long-term affordability and growth in the real estate sector. The panel discussion brought together leading industry voices including Parag Shah, Chairman Emeritus, MICL and Sanjay Dutt, Managing Director and CEO, Tata Realty, who shared perspectives on market realities and the structural shifts underway in the sector.