Mr Farookhi will succeed Basil Bean who is retiring at the end of April.
Formerly chief executive of Leicester City Council, Mr Farookhi has an impressive track record of success in local government, including high level appointments at Southwark LBC and Wakefield MBC. He began his career in the electricity supply industry, at the former Central Electricity Generating Board.
Mr Farookhi has a record of improving corporate and operational efficiency and effectiveness. He is a board member of the environment agency.
NHBC chairman Norman Fowler said: 'I am very glad to welcome Imtiaz Farookhi to the NHBC. He comes at an important stage in our development and the Board of Directors is convinced that he will make an outstanding contribution. He was chosen from a very strong shortlist of candidates.'
Mr Farookhi said: 'I am looking forward immensely to the challenge of being the new chief executive of NHBC as it seeks to improve the standards of housebuilding and the protection offered to home buyers.
'NHBC has a clear vision and long-term goal to achieve defect-free homes for all customers in the future. There is a lot of work to do to achieve that goal, but the commitment is there and I am very pleased to be involved in these initiatives.'