New Delhi, Aug 26 (IANS): The National Real Estate Development Council (NAREDCO) celebrated its 25th Silver Jubilee Foundation Day in Hyderabad on Saturday, gathering prominent figures, policymakers, industry leaders and real estate experts.

During the event, a collaborative report titled 'Vision 2047' was unveiled by NAREDCO and Knight Frank. This report provided insightful inputs concerning the real estate industry.

Former Vice President M Venkaiah Naidu, addressing the audience, emphasised the importance of prioritising the creation of affordable, healthy, and joyful housing, incorporating excellent architectural elements.

He inaugurated the event and called upon real estate and infrastructure developers to ensure adequate provision of air, sunlight, and water in housing projects. This, he believed, would lead to content and satisfied residents.

Naidu underlined the pivotal role of happy, affordable, and healthy housing as the foundation for the growth of the country's real estate and infrastructure sectors.

He stressed that neglecting these essential housing aspects would hinder the intended progress of these sectors.

Naidu urged real estate investors to choose projects that provide modern amenities and vital elements like clean air, sunlight, and water, preventing any future regrets.

He also advised meticulous planning to avoid encroachments during project development and cautioned against disturbing nature, citing the significant threats posed by the current global climate situation.

He highlighted that tampering with nature during such projects could lead to disastrous consequences, especially considering the serious threats that the current natural climate poses to mankind both in India and around the world.

The Vision 2047 report has projected that India's real estate industry could reach a value of USD 5.8 trillion by 2047.