Lieutenant Governor Addresses AIFORERA Governing Council Meeting in Srinagar
The Lieutenant Governor of Jammu and Kashmir, Shri Manoj Sinha, emphasized the importance of equitable development and transparency in the real estate sector during the AIFORERA Governing Council Meeting in Srinagar. He highlighted the Rs. 1 lakh crore Urban Challenge Fund as a game changer for urban transformation.
Real EstateUrban TransformationRera Act 2016Affordable HousingSustainable DevelopmentReal EstateSep 25, 2025
He stated that the initiative involving states/UTs and private players to redevelop 300 cities across India will promote innovation, robust infrastructure, improve ease of living, and integrate sustainability into urban planning. The Lieutenant Governor urged a 'Whole of the Government' approach to advance the real estate sector and ensure accountability in timely project delivery.
The transparency, accountability, and efficiency brought by the RERA Act 2016 must protect homebuyers' interests, and a swift grievance redressal mechanism is required to transform this sector into a more regulated and efficient industry, the Lieutenant Governor said. He also spoke on the intricacies of the real estate sector, its challenges, possibilities, and opportunities.
He called upon private players and real estate developers to play a greater role in promoting affordable housing. Under the leadership of Hon'ble Prime Minister Shri Narendra Modi, the real estate sector is emerging as one of the major contributors to the vision of Viksit Bharat. This rapid growth is driven by the aspirations of the common man. The real estate sector must move forward with equitable development and urban transformation at its core, ensuring fairness and transparency for those who dream of owning a home.
The Lieutenant Governor also emphasized the need for the sector to become more competitive to encourage growth and for uniformity and harmony in housing regulations across states and union territories. He exhorted real estate developers to pay special attention to the health and education of families of workers engaged in housing development projects. The welfare of those who are building our homes should be the top priority, he said.
He further urged the All India Forum of Real Estate Regulatory Authorities to work with developer groups like NAREDCO (National Real Estate Development Council) to ensure that workers and their families are not deprived of their basic rights in any way. He emphasized the importance of real-time monitoring of housing development projects and awareness campaigns for buyers.
On the occasion, the Lieutenant Governor released the Journal and Annual Report 2024-25 of AIFORERA. Shri Anand Kumar, Chairman of AIFORERA; Shri Satish Chandra, Chairman of J&K Real Estate Regulatory Authority (JKRERA); Ms Mandeep Kaur, Commissioner Secretary of the Housing and Urban Development Department; and other chairpersons of various Real Estate Regulatory Authorities and senior officials attended the inaugural session of the Governing Council Meeting of AIFORERA.
Frequently Asked Questions
What is the Rs. 1 lakh crore Urban Challenge Fund?
The Rs. 1 lakh crore Urban Challenge Fund is a significant initiative to transform cities into growth hubs by promoting innovation, robust infrastructure, and sustainable urban planning.
What is the role of the RERA Act 2016 in the real estate sector?
The RERA Act 2016 aims to protect homebuyers' interests by ensuring transparency, accountability, and efficiency in the real estate sector, with a swift grievance redressal mechanism.
What is the 'Whole of the Government' approach mentioned by the Lieutenant Governor?
The 'Whole of the Government' approach refers to a coordinated effort across various government bodies to advance the real estate sector and ensure accountability in timely project delivery.
How can private players and real estate developers contribute to affordable housing?
Private players and real estate developers can contribute to affordable housing by focusing on projects that cater to the needs of the common man and ensuring that the housing is both affordable and of high quality.
What is the importance of real-time monitoring in housing development projects?
Real-time monitoring of housing development projects is crucial for ensuring that projects are completed on time, within budget, and to the required standards, thereby protecting the interests of homebuyers.
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