Surplus Land of Centre & States’ PSUs likely to be used for Affordable Housing for EWS: Secretary, MHUA at NAREDCO Convention

The Centre is toying with an idea to acquire the surplus land of Central Public Centre Enterprises wherever possible in a bid to create townships and dwelling units under the Prime Minister’s affordable housing scheme for weaker sections of the society to providing them shelters by 2022 as committed by the government of the day, according to
​​Secretary, Ministry of Housing and Urban Affairs, Mr. Durga Shankar Mishra.

Addressing the NAREDCO’s 14th National Convention: Indian Real Estate-Unfolding the New Era of Growth here today, Mr. Mishra also added that Centre in necessary consultation with the States and UTs is also trying to persuade States to acquire the available land of their public sector enterprises for the same purpose so that affordable houses are created across the country for the common man.

In addition, the Centre is trying its best to bring in the most advanced construction technologies from economies of scale across the world so that construction of houses particularly for the weaker sections of society and other similar segments are completed with the fastest speed and pace and the government will be able to fetch such technologies in the real estate sector faster than anticipated, Mr. Mishra indicated.

He also assured the real estate developers assembled on the occasion that they would face virtually no inconveniences beyond 31st March 2018 in terms of getting their constructions plans approved by authorities not only in centre but also in vast numbers of States through online facilities as such an arrangement is being arrived at.

Alluding to the acquisition of surplus land belonging to Centre and States’ enterprises, Mr. Mishra indicated that serious efforts and consultations are on in this direction and it is hoped that the anticipated results would follow for the intended purpose so that affordable housing scheme takes off as desired by the Prime Minister.

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Inaugurating the National Convention, Minister of State for Finance and Corporate Affairs, Mr. Arjun Ram Meghwal promised the construction and real estate industry that all their legitimate glitches would also be addressed properly whether these relate to GST and other procedural fronts and invited the builders to come forward to cooperate with the government in helping it achieve its objectives on many fronts including that of affordable housing also.

According to him, the government of the day under the Prime Ministership of Mr. Modi has already ushered in host of economic reforms in 2017 that would make India as one of the largest economies in the world by 2030 with it leading the Asia and Eurasia continent. This is because the present government is decisive and pro-active both in its economic and social objectives, concluded the Minister.

Managing Director, State Bank of India, Mr. Rajnish Kumar in his address explained that liquidity would not be problem for legitimate and viable projects of the Indian economy and made a prognoses that time would shortly arrive in near future as per which the government would lease out land to developers for construction of affordable housing which would considerably reduce the cost.

In his welcome address, Chairman, NAREDCO, Mr. Rajeev Talwar praised the initiatives of the government on economic front describing them a momentous and in the right direction and urged the policy makers to remove loopholes in real estate and construction segments so that its growth is expanded.

President, NAREDCO, Mr. Parveen Jain who proposed a vote of thanks assured the government and other stakeholders that this association would continue to serve its members and keep on taking up policy related issues with all segments of the government for the growth of real estate and construction sector.

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