Revolutionizing Housing Landscape: India Aims to Construct 3 Crore Units by 2029
The Ministry of Housing and Urban Affairs has called upon the real estate sector to gear up for upcoming housing challenges, focusing on innovative solutions like rain harvesting and solar-powered pathways.
Real EstateAffordable HousingSustainabilityNaredcoMinistry Of Housing And Urban AffairsReal EstateJun 14, 2024
Speaking at the 3rd NAREDCO Mahi Convention, Additional Secretary D Thara emphasized the need for the real estate industry to adapt to new practices and prioritize sustainability in their housing projects. She highlighted the importance of rainwater harvesting, which should become a core infrastructure component in housing complexes to reduce reliance on external water sources and promote water conservation within communities.
The government's vision, led by Prime Minister Modi, is to construct affordable housing units that promote healthy living and combat issues like childhood obesity, which are exacerbated by inadequate open spaces in urban housing complexes. The government is committed to implementing policies that foster social upliftment through collaboration with the private sector.
The real estate industry has been urged to revisit traditional practices and invest in technologies that enhance environmental sustainability. President of NAREDCO, G Haribabu, noted the need for greater participation of women in the real estate sector to leverage their diverse contributions effectively.
Dr. Niranjan Hiranandani, Chairman of NAREDCO, outlined ambitious plans approved by the new NDA government, including the construction of 3 crore housing units over the next five years. He also proposed a comprehensive slum rehabilitation project worth Rs. 25 thousand crores in Mumbai, emphasizing the need for governmental support to kickstart this initiative.
Vice Chairman of NAREDCO, Rajan Bandelkar, praised the government's commitment to boosting the affordable housing sector, predicting substantial growth in the real estate market as a result.
The National Real Estate Development Council (NAREDCO) is a leading advocate for the real estate sector in India. The organization works towards promoting policy changes and advocating for the interests of the real estate sector, with a focus on the role of women in driving innovation and growth.
The Ministry of Housing and Urban Affairs is a government ministry responsible for formulating policies and programs related to housing and urban development in India.
Frequently Asked Questions
What is the target set by the Indian government for constructing housing units?
The Indian government aims to construct 3 crore housing units over the next five years.
What is the focus of the government's housing initiative?
The focus is on providing affordable housing units equipped with modern amenities like children's play areas, parks, and safe walkways.
What is the role of rainwater harvesting in the government's housing initiative?
Rainwater harvesting is expected to become a core infrastructure component in housing complexes to reduce reliance on external water sources and promote water conservation within communities.
What is the significance of women's participation in the real estate sector?
Women's participation is seen as crucial for leveraging their diverse contributions effectively and driving innovation and growth in the sector.
What is the proposed slum rehabilitation project in Mumbai?
The proposed project is worth Rs. 25 thousand crores and aims to rehabilitate slums in Mumbai, emphasizing the need for governmental support to kickstart the initiative.
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