Friday, 5 December 2014

CREDAI Conclave - Clean India, Skilled India, Strong India!

Developers expressed satisfaction over assurances given by ministers.

Ministers, who ad dressed the Credai Conclave, were convincing when they spoke about the approval processes being expedited.

Under “Housing for all by 2022“, the government will directly or indirectly help in the construction of 30 million houses for the EWS.

For this, the government will make use of public-private partnership model and provide interest subsidy and increased flow of resources to the housing sector.

Jones Lang LaSalle (JLL), along with Credai, said in a report that an investment of Rs 50 trillion would be required over the next few years for initiatives like housing for all by 2022, urban infrastructure development, urban sanitation, and building smart cities.

The report says that “Housing for all by 2022“ will need Rs 22.5 trillion, urban infrastructure development Rs 16.5 trillion, urban sanitation and smart cities Rs 620 billion.

The report points out that about 85-90% of the total investments in housing for all would be required for developing urban housing, where development costs are high due to factors like high land prices, construction cost fees, and taxes.

Javadekar said that in order to expedite approval processes the government was focusing on technology as well. “The government has brought in eclearance to bring transparen cy and speed up projects,“ Javadekar said.

In order to achieve housing for all by 2022, the government is working on a large number of measures like facilitating faster approvals, introducing self-certification-based approvals, and bringing down interest costs. Ashok Gajapathi Raju, minister for Civil Aviation, said: “The housing and construction sector contributes a major share to the GDP. There is an urgent need to strive and create a level-playing field for government and private players in this sector.“

Prominent developers like Lalit Kumar Jain (chairman, Credai), C Shekhar Reddy (president, Credai), Getamber Anand (president-elect, Credai), Kumar Gera, among others, raised a number of issues afflicting the sector. C Shekhar Reddy said, “This was one of the most successful conclaves where all the ministers expressed industry-friendly, pro-development stand and assured us of more transparent and simplified policies."

Source: Times Property, Nov 29, 2014

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