FM discusses the roadmap to fulfil the ‘’housing for all by 2022’’ dream
The Finance Minister Arun Jaitley was addressing the crowd at a realtors conclave organised by the National Real Estate Development Council in Mumbai on Wednesday. He mentioned in that conclave that his ministry will take into consideration all the possible steps to fulfil the agenda of the PM Narendra Modi’s plan to ensure housing for all by 2022.
Urban development minister Venkaiah Naidu, minister of communication and IT Ravi Shankar Prasad, civil aviation minister Ashok Gajapathi Raju, transport minister Nitin Gadkari, labour & employment minister Narendra Singh Tomar, minister of state commerce & industry Nirmala Sitharaman, among others, also participated in this conclave.
90 million dwellings units will be created within 8 years to fulfil the PM’s dream and provide housing to everyone by India’s 75th Independence Day. The two-day conclave will debate on the steps to meet the capital inflow of $2 billion for the housing sector. They will also discuss about creating housing surplus within this 8 year period.
This task appears to be humongous, however after REITs (Real Estate Investment Trusts) were introduced in the budget and after SEBI (Securities and Exchange Board of India) gave a green signal to them, raising funds in the real estate sector has become lucrative. These REITs have tax Sops from the government.
FDI (Foreign Direct Investment) is invited in the Smart City Programs for the nation and these real estate and infrastructure projects are getting good response from Singapore, Russia and other countries too.
Source- The Financial Express
Ashok Gajapathi Raju, civil aviation minister, commerce & industry Nirmala Sitharaman, FDI, finance minister Arun Jaitley, foreign direct investment, National Real Estate Development Council, PM Narendra Modi, Real Estate Investment Trusts, REITS, SEBI, Securities and Exchange Board of India, Shankar Prasad, Venkaiah Naidu
