Connect with us


RICS, Naredco sign MoU to advocate IPMS in India

1 (1)

1 (1)RICS, the global body for setting standards in real estate, and industry body Naredco have joined hands to promote internationally recognised standards, regulations and professionalism in the real estate sector.

RICS and Naredco have signed a MoU, as per which the two organisations will  work jointly towards adoption of International Property Measurement Standards (IPMS) for the benefit of the real estate industry.

According to a press release, the adoption of IPMS would help the country reach its goal to be on a par with developed nations in areas of uniform standards in areas such as carpet area, super area etc.

“By adopting IPMS, Indian market has nothing to lose with a dual reporting system of nationally prevailing terms (such as carpet area) and IPMS. Instead, adoption of this international language of real estate measurement will give confidence to global investors and boost foreign investment in Indian property which in turn benefits Indian developers,” said Louise Brooke-Smith, RICS President at Governing Council.

Naveen Raheja, Chairman of Naredco, said, “Through our network of members, Naredco will stress the need for adopting IPMS in the sector”.


Latest News

News13 hours ago

Central Park’s Bignonia Towers in Sohna Achieves Rs 500cr Sales Bookings 

New Delhi, 14th June 2024: Bignonia Towers by Central Park in in Sohna has recorded sales bookings of Rs 500...

News13 hours ago

Author Ashwinder R. Singh Launches His Third Book, “Master Commercial Real Estate”

June 14, 2024: Ashwinder R. Singh, acclaimed for his insightful contributions to real estate, launched his third book, “Master Commercial...

News13 hours ago

Grade A Office Spaces Demand Growing at a Brisk pace, 164.3 Mn Sq Ft Added Since 2021

June 14, 2024: India’s office market is undergoing a profound transformation, reflecting the country’s robust economic growth, demographic advantages, and...

News14 hours ago

Real Estate Sector Needs to Gear Up for New Housing Challenges Until 2029, With Rain Harvesting as a Core Element for Housing Projects: HUA Additional Secretary

New Delhi, June 14, 2024: Additional Secretary of the Ministry of Housing and Urban Affairs, D Thara, on Friday asked...

News2 days ago

Tier-2 Cities Closing the Gap with Top-8 as Property Prices Surge by 10-15% in Prime Areas: Report

New Delhi, June 13, 2024: has released its inaugural “The Bharat in India” report on Thursday. The report unveils...

News2 days ago

Housing Prices Soar 13% CAGR as Inflation Moderates to 5.4%: ANAROCK Report 

Mumbai, June 13, 2024: Inflation, the gradual increase in the general prices of goods and services, erodes the purchasing power of money...