3 cr housing units will transform rural and urban housing landscape

Jun 14, 2024

New Delhi [India], June 14 : The Ministry of Housing and Urban Affairs has called upon the real estate sector to gear up for upcoming housing challenges until 2029, focusing on innovative solutions like rain harvesting and solar-powered pathways, announced Additional Secretary D Thara.
According to a press release, speaking at the 3rd NAREDCO Mahi Convention, she underscored the need for industry players to adapt to new practices and prioritise sustainability in their housing projects.
In her address, D Thara urged the real estate industry to revisit traditional practices and invest in technologies that enhance environmental sustainability.
Rainwater harvesting, she emphasised, should become a core infrastructure component in housing complexes to reduce reliance on external water sources and promote water conservation within communities.
Highlighting the vision of the new NDA government led by Prime Minister Modi, she stressed the importance of constructing affordable housing units equipped with amenities such as children's play areas, parks, and safe walkways.
These elements, she argued, are crucial for promoting healthy living and combating issues like childhood obesity, which are exacerbated by inadequate open spaces in urban housing complexes.
She emphasised the government's commitment to implementing policies that foster social upliftment through collaboration with the private sector.
President of NAREDCO, G Haribabu, echoed similar sentiments, noting the need for greater participation of women in the real estate sector to leverage their diverse contributions effectively.
He highlighted that while women's participation in professions like medicine and nursing reaches up to 40 per cent, it remains significantly lower in real estate, hindering the sector's full potential.
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, aimed at transforming both rural and urban housing landscapes.
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.
Dr Ananta Singh Raghuvanshi, President of NAREDCO Mahi, highlighted the association's efforts in promoting policy changes and advocating for the interests of the real estate sector, particularly focusing on the role of women in driving innovation and growth.