Green Building Norms and Skill Training: Shah Urges Real Estate Developers
Union Home Minister Amit Shah has emphasized the importance of adopting green building norms and providing skill training to laborers in the real estate sector. Addressing a conclave of the realtors' apex body CREDAI, Shah stressed the need for sustainable development and transparency in the housing market.
Shah asserted that green building norms should become the 'new normal' in the housing sector. He urged developers to build low-cost homes and focus on sustainable practices such as energy-efficient design, water recycling, and scientific waste management. These measures, he said, should not significantly increase the cost of construction.
The minister also highlighted the importance of transparency in the land market, expressing concerns over land banking and speculative holding. He called for self-regulation within the industry to prevent government intervention.
Shah reiterated the significance of the Real Estate (Regulation and Development) Act (RERA) in bringing structural reforms to the sector. Passed in 2016, RERA has enhanced transparency in property deals, protected homebuyers' interests, and improved construction quality. Currently, 35 states and Union Territories are implementing the law, with 1.55 lakh projects registered.
On the topic of reducing costs, Shah noted that the reduction in GST rates on various building materials would help builders provide more facilities to customers. The GST on cement, for instance, has been reduced from 28% to 18%, and similar reductions have been made for other building materials. This, he said, could result in a 5-7% reduction in overall construction costs.
Shah also emphasized the opportunities presented by rapid urbanization. The government, he said, is moving forward with a vision for urban development, and responsible developers are integral to this vision.
Union Minister for Environment, Forest and Climate Change Bhupender Yadav, who also spoke at the event, highlighted the government's efforts to expedite environmental clearances. Under the current government, clearances are being provided within 90-110 days, compared to 650 days under the previous administration. Yadav also called for the development of green real estate projects and the achievement of net zero emission goals.
Both ministers stressed the importance of recycling electronic and solid waste, urging developers to incorporate these practices into their projects. The overall message was clear: the real estate sector must embrace sustainability and transparency to meet the challenges of urbanization and environmental protection.
