September 2014 \ Business & Investment \ REAL ESTATE
NAREDCO Convention Focus on Housing for All

Public Private Partnership has been recognized as important tool in bridging gap between demand and supply of affordable housing, as it would help in arranging private capital for construction by private player and land, approvals and subsidies to poor by the Govt. agencies.

Major reforms indentified in housing and real estate sector, to achieve the target of “Housing for All by 2022” are:

• Decentralising decision making and empowering Urban Local Bodies.

• Streamlining project approvals by introducing single window clearance mechanism backed by technology.

• Revamping of building development norms and municipal by laws.

• Reviewing LARR Act 2013 to make land acquisition faster and easier.

• Promoting Public Private Partnership (PPP) and strengthening Private Sector participation.

• Reviewing rental laws and promoting construction of rental housing stock.

• Forming nodal agency to coordinate activities of all stake holders.

• Empowering EWS / LIG households.

• Rationalising various fees, duties and taxes.

• Granting infrastructure status to housing sector.

• Channelising long term funds for housing construction at low rate of interest.

• Allowing External Commercial Borrowing (ECB), FDI and REITs to finance affordable housing projects.

• Reducing cost and schedule overrun.

• Promoting mass housing construction technologies.

It was unanimously resolved by all participants that above reforms must be initiated immediately to achieve the target of housing for all by 2022, approximately one crore housing units per annum.

National Real Estate Development Council (NAREDCO), under the aegis of Ministry of Urban Development, Housing and Urban Poverty Alleviation, Govt. of India, is the apex body of real estate sector at National level. NAREDCO is working in close cooperation with Central and State Govts. for the transformation of old and archaic development norms, rules, regulations and procedures, as also for the modernization and technological up gradation in the real estate sector.


Tags: Real Estate