RERA brought transparency in Real Estate Sector : PM

Speed Post News Network

New Delhi : Prime Minister Narendra Modi on March 2, 2019, addressed the Construction Technology India Event, 2019, at Vigyan Bhavan, New Delhi. He emphasised on the commitment of the Union Government towards ensuring that every family’s dream of a home becomes a reality.

The Prime Minister said that the need for the Global Housing Technology Challenge was felt in the light of rapid urbanisation in India. He said that elements from several schemes including PM Awas Yojana, HRIDAY and AMRUT, are oriented towards transforming the housing sector. He said that adapting technology to different geographical conditions is also a challenge. He  said a lot of emphasis has been placed on affordable housing, real estate sector, skill development, and housing technology.

The Prime Minister reiterated his dream that every Indian should have a proper house by 2022 and 1.3 crore houses have been made in his tenure. He called upon everyone to work together to enhance capacities and help the poor.

The Prime Minister said that the Government is also making it easier for people to buy houses through tax and other incentives. He said the Real Estate (Regulation and Development) Act, (RERA), has improved consumers’ confidence in developers and brought transparency in the Real Estate Sector. He said a large pool of skilled human resource has been created, especially in the rural areas. He said that in the construction sector, there is now much greater focus on disaster-resilience, energy efficiency, and local innovation.

The Prime Minister said that the Global Housing Technology Challenge is a platform that can help elevate India’s construction ecosystem to international standards. He declared that the period from April 2019 to March 2020, will be observed as the Construction Technology Year, according to a PIB release.