How will Modi government’s dream of building 1 crore houses in the next 5 years come true? Complete details about this have come to light. Kuldeep Narayan, Joint Secretary and Mission Director in the Ministry of Housing and Urban Affairs, has said that the government aims to construct one crore houses in five years. Addressing a conference organized in Abu Dhabi on Tuesday, Narayan said that in the last nine years we have built 90 lakh affordable houses, which is ten times the number of houses built in the decade before that. Our next target is to construct one crore houses in five years.
This is the complete plan of the government
National Real Estate Development Council (NAREDCO), the apex body of real estate companies, gave this information in a statement on Wednesday. NAREDCO had organized this conference to strengthen relations between India and the United Arab Emirates (UAE). According to the statement, Narayan said in his address that in view of the rapid urbanization taking place in India, more efforts are needed in this direction. Our economic growth rate is estimated to be an average of seven to eight percent in the next 20 years. Along with this, development of new cities and innovative urban planning is important for infrastructure.
Ministry gave information
Narayan said that we need to adopt best practices from countries like UAE so that we can create eco-friendly, inclusive and future-ready urban environments. In this conference organized in collaboration with the Ministry of Housing and Urban Affairs, NAREDCO Chairman G. Hari Babu said that today India and UAE are the best friends in the world. Representatives from 21 states of India participated in this conference and we are returning with important lessons in sustainable urban development. The journey of India’s housing sector has started from basic houses to affordable, sustainable and luxury houses.
Economy will be worth Rs 5 trillion
NAREDCO Chairman Dr. Niranjan Hiranandani said that at present the real estate sector’s contribution to India’s gross domestic product (GDP) is seven per cent. According to NITI Aayog, with India becoming a $5 trillion economy, the contribution of this sector can reach 15 percent. This growth has a positive impact on employment, investment and 270 supporting industries.
He said that strengthening partnership with the UAE will boost innovation and accelerate sustainable development. The conference was organized during the four-day study visit of NAREDCO. The conference was attended by more than 350 participants, 35 representatives of the Government of India, representatives of industry and UAE.