India's Home Ownership Dream Thrives Under PM Modi's Leadership
Lieutenant Governor Manoj Sinha highlights the progress in real estate development and home ownership under PM Modi's initiatives.
Home OwnershipReal EstatePm ModiLieutenant Governor Manoj SinhaJkReal EstateSep 25, 2025
Addressing the Governing Council Meet of the All India Forum of Real Estate Regulatory Authorities, LG Sinha stated, “Under PM housing schemes, new homes are being approved. This sector is expected to attract investments of around ₹10 lakh crore and could reach $1.04 trillion by 2040.”
LG Sinha highlighted that after agriculture, real estate has become the second largest employment provider. However, there are challenges, as buyers have had to wait years for possession. Many developers merge projects, and those who wanted homes sometimes did not even get a roof.
He added, “Earlier, India did not have mechanisms to handle these issues. Today, the entire country is realizing the dream of homeownership, and people are showing patience under PM Modi’s guidance.”
LG Sinha stressed, “Now all relevant information is in the public domain. Real estate development should benefit workers and their families, providing for their health and education.”
Welcoming the participants, Lieutenant Governor Manoj Sinha said, “I welcome all to J&K. Over the past few decades, real estate has grown significantly and can become a key sector for the economy.”
He noted, “There has been growth in the luxury housing segment. Property prices have increased, with annual growth around 14–15%, and further increases are possible.”
He emphasized, “We must ensure that workers and their families can meet their needs.”
LG Sinha concluded, “J&K has successfully implemented systems with transparency and all other necessary measures.”
Frequently Asked Questions
What are the key housing schemes under PM Modi's leadership?
Under PM Modi's leadership, several housing schemes like 'Pradhan Mantri Awas Yojana' (PMAY) have been launched to provide affordable housing for all.
How has real estate development impacted employment in India?
Real estate has become the second largest employment provider after agriculture, creating numerous jobs and contributing significantly to the economy.
What challenges have been faced by homebuyers in India?
Homebuyers have faced challenges such as long waiting periods for possession and developers merging projects, leading to delays and sometimes no homes being delivered.
What measures have been taken to address these challenges?
The government has implemented transparency measures and regulatory frameworks to ensure that all relevant information is in the public domain and to protect the interests of homebuyers.
How is J&K contributing to the real estate sector?
J&K has successfully implemented transparent systems and necessary measures to promote real estate growth, including the luxury housing segment, with annual property price increases of around 14-15%.
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