Thursday, 4 December 2014

NDA ministers promise to walk the talk

The recently-concluded Credai Conclave 2014 has come as a shot in the arm for the real estate sector.

Aslew of senior minister of the NDA government addressed the two-day Credai Conclave held in New Delhi on November 24-25 and promised that the Modi government would pull out all stops in removing hurdles in the way of the real estate sector and help it achieve the Prime Minister's stated goal of “Housing for all by 2022“.

Prakash Javadekar, the minister for Environment and Forests, said that the long-pending demand of developers and builders to sort out problems in environment clearances, which cause immense delay in the implementation of realty projects, would be met soon. The minister assured the gathering of over 800 builders, developers, and other stakeholders that the government is serious on the issue and that he might announce something positive in the next 15 days.

He also said his ministry is actively discussing it and approvals processes would be streamlined and expedited and the productivity of the sector enhanced.

The government is also working out modalities to reduce the interest cost, which would further boost the prospects of the sector.

Piyush Goyal, the minister for Power and Coal and New & Renewable Energy said the government is committed in to providing housing for all by 2022 and would extend additional tax incentive on home loans to encourage people, especially the young, to buy houses.

The government has also proposed to set up a Mission on Low-Cost Affordable Housing to be anchored in the National Housing Bank; as power and housing sector go hand in hand, Goyal promised that his ministry would ensure power for all by 2019, which is a vision of the government led by PM Narendra Modi.

M Venkaiah Naidu, the minister for Housing and Urban Poverty Alleviation, said that the government is committed to streamlining the approval processes so that time required to implement projects comes down.

This would not only help in containing the cost of construction but also help the country achieve PM Modi's vision of “Housing for all by 2022“, Naidu said.

Source: Times Property, Nov 29, 2014

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