Ministry of Housing and Urban Affairs Urges Real Estate Sector to Prepare for Future Challenges
The Ministry of Housing and Urban Affairs has asked the real estate industry to gear up to meet housing-related challenges for the next five years by revisiting their old practices and preparing to invest in rain harvesting and creating play spaces for ch
Real EstateHousingMinistry Of Housing And Urban AffairsNaredcoIndiaReal EstateJun 14, 2024
Thara emphasized that the Government would be satisfied and well-contented if its policies are well-implemented through a partnership spirit with the private sector since the current political class is very clear about its vision for the next five years. She also stressed the importance of investment in rain harvesting projects as a core infrastructure plan for the private sector in housing complexes, particularly in the affordable housing sector.
The real estate sector would need to create walkable spaces and provision for parks, school-ways, and pathways powered by solar energy. Additionally, builders would need to incorporate ample rain harvesting and water resource management within the project site, rather than depending on water supplies from neighbouring locations.
Speaking at the 3rd NAREDCO Mahi Convention, President of NAREDCO, G. Haribabu, regretted that the real estate sector still does not have as many women entrepreneurs as required for its potential. Chairman of NAREDCO, Dr. Niranjan Hiranandani, pointed out that in the first cabinet meeting of the new NDA Government, 3 crore housing units were cleared for the next five years, of which 2 crores would be built in rural areas, while the remaining 1 crore would be constructed in urban areas.
The Ministry of Housing and Urban Affairs is a government ministry responsible for formulating policies and programmes for the development of housing and urban infrastructure in India. NAREDCO is a national-level association of real estate developers, builders, and promoters, with a presence in over 20 cities across India.
NAREDCO is a national-level association of real estate developers, builders, and promoters, with a presence in over 20 cities across India. The organization aims to promote the real estate sector and contribute to the growth of the Indian economy.
Frequently Asked Questions
What is the Ministry of Housing and Urban Affairs asking the real estate sector to do?
The Ministry is asking the real estate sector to gear up to meet housing-related challenges for the next five years by revisiting their old practices and preparing to invest in rain harvesting and creating play spaces for children in their housing complexes.
What is the importance of rain harvesting projects in housing complexes?
Rain harvesting projects are essential to counter the challenges of water scarcity and to promote sustainable development in housing complexes.
What is the target of the NDA Government for constructing housing units in the next five years?
The NDA Government has set a target of constructing 3 crore housing units in the next five years, of which 2 crores would be built in rural areas, while the remaining 1 crore would be constructed in urban areas.
What is the role of NAREDCO in the real estate sector?
NAREDCO is a national-level association of real estate developers, builders, and promoters, with a presence in over 20 cities across India. The organization aims to promote the real estate sector and contribute to the growth of the Indian economy.
Why is it important to promote women entrepreneurs in the real estate sector?
Promoting women entrepreneurs in the real estate sector is essential to increase diversity and inclusion, and to tap into the potential of women in the industry.
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