PM Gati Shakti: Piyush Goyal's Plan to Boost Affordable Real Estate
Commerce and Industry Minister Piyush Goyal has outlined a plan to make real estate more affordable through the PM Gati Shakti platform, emphasizing the importance of collaboration between the government and the real estate sector. He also stressed the ne
Gati ShaktiReal EstateAffordable HousingConstruction PollutionPrefabricated MaterialsReal Estate MumbaiNov 25, 2024
Goyal suggested that a collaborative approach between the government and the real estate sector could significantly enhance the availability of affordable housing. “If the government and your sector work in tandem, we can guide government-sponsored projects to meet the needs of the people and provide the necessary connectivity to make affordable housing a reality for more and more people,” he said.
The PM Gati Shakti platform, launched in 2021, is a comprehensive tool designed to assess the planning needs of each area. It has been instrumental in planning the government’s infrastructure and social sector projects, with a significant focus on large connectivity projects by the Roads and Highway Ministry and Railways.
Goyal also highlighted the global opportunities available to the Indian real estate sector. He mentioned that during his recent visit to Australia, it was noted that the country needs around half a million houses immediately. Similar opportunities exist in other parts of the world, which can add to India’s exports of services and infrastructure building capabilities.
Additionally, Goyal proposed a dialogue with the industry to take the government’s scheme for Affordable Rental Housing forward. Launched in 2020, this scheme is aimed at providing housing for migrant workers. “We need to work together to ensure that this scheme is successful and reaches the people who need it the most,” he emphasized.
Goyal also addressed the issue of pollution at construction sites, particularly in 20 big cities and towns. He urged the real estate industry to adopt prefabricated materials and steel to reduce pollution levels. “Using these materials can help reduce the AQI levels and significantly lower pollution. We have seen this approach work effectively in other countries, and it’s time we adopt it here,” he said.
According to available data, construction activities contribute significantly to air pollution in India, accounting for roughly 20-30% of overall air pollution. A large portion of this pollution is attributed to dust generated during construction processes. By reducing on-site activities through prefabricated materials and steel, the industry can play a crucial role in reducing pollution levels.
Goyal called on CREDAI to set up a team to study this idea and report back to the government. “This is a critical issue, and we need to act fast to find solutions that can help us reduce pollution and improve the quality of life for our citizens,” he concluded.
Information on CREDAI
The Confederation of Real Estate Developers’ Associations of India (CREDAI) is the apex body of the real estate industry in India. It represents the interests of real estate developers across the country and works towards the growth and development of the sector. CREDAI plays a vital role in facilitating dialogue between the industry and the government to ensure the implementation of policies that benefit both the sector and the public.
Frequently Asked Questions
What is the PM Gati Shakti platform?
The PM Gati Shakti platform is a comprehensive tool launched in 2021 to assess the planning needs of each area. It helps in planning the government’s infrastructure and social sector projects, focusing on large connectivity projects by the Roads and Highway Ministry and Railways.
How does PM Gati Shakti help in making real estate affordable?
PM Gati Shakti helps in guiding government-sponsored projects to meet the needs of the people and provide necessary connectivity, which can make affordable housing available for more and more people.
What global opportunities did Piyush Goyal mention for the Indian real estate sector?
Piyush Goyal mentioned that countries like Australia need around half a million houses immediately, and similar opportunities exist in other parts of the world. This can add to India’s exports of services and infrastructure building capabilities.
What is the Affordable Rental Housing scheme?
The Affordable Rental Housing scheme was launched in 2020 to provide housing for migrant workers. It aims to ensure that affordable rental housing is available to those who need it the most.
Why did Goyal emphasize the use of prefabricated materials and steel in construction?
Goyal emphasized the use of prefabricated materials and steel to reduce pollution at construction sites. These materials can help reduce AQI levels and pollution, as they have been proven effective in other countries.
Related News Articles
Unlocking India's Telecom Treasure: BSNL and MTNL's Rs 1 Lakh Crore Land Asset Monetization Push
BSNL and MTNL are gearing up to monetize their land assets
Family Offices in India: Embracing Diversification and Global Opportunities
Family offices in India are shifting from traditional investments, seeking higher returns and diversifying their portfolios, with a focus on real estate, healthcare, and finance.
Ravet, Pune's Emerging Real Estate Hub: Trends, Prices, and Growth Prospects
Discover the latest real estate trends, apartment sizes, prices, and top players in Ravet, Pune's sought-after suburb.
Waqf Amendment Bill 2024: How Government Properties Were Declared Waqf, and What's Changing
Minority Affairs Minister Kiren Rijiju highlights shocking cases of government properties being declared Waqf, and proposes amendments to the Waqf Act.
Mumbai Pays Final Tribute to Business Icon Ratan Tata
The last rites of business magnate Ratan Tata were performed with full state honors in Mumbai. The ceremony was attended by several dignitaries, including Union Home Minister Amit Shah and Piyush Goyal.
Sattva Group Launches Sattva Bhumi, a Gated Community in North Bengaluru
Sattva Group, a prominent real estate firm, has launched Sattva Bhumi, a gated community in North Bengaluru's Devanahalli corridor. The project, spanning 20 acres with 343 land parcels, has already seen significant interest, with over half of the plots so