The Housing Minister, Hardeep Puri on September 27 said that on monthly basis the government is sanctioning around 3,000 to 5,000 houses to complete the housing target by 2022.
Puri was addressing the “Real Estate and Infrastructure Investors’ Summit – 2018 at Mumbai organised by NAREDCO and APREA. While speaking he said, A study in 2011, before I arrived on the scheme it said there is a need to construct 18 million homes for everyone Indian to get home by 2022. After a ground assessment in the different states / UT’s which concluded to point that government needs to build 11 million houses.
Puri commenting on the Maharashtra Regulator and way of functioning he said, “The Maha RERA is a template provides a model for the rest of the country.”
“While he (Puri) was waiting at the basement we had 5 minutes meeting he said we have already achieved above 50% of PMAY target and will compete ahead of time frame”, Dr Niranjan Hiranandani said.
He added when the Housing Minister Hardeep Puri was newly elected as a Housing Minister had no idea about this sector. After 5-10 minutes meeting, he made 8 announcements of PPP project in respective housing industry should be done.
“At the beginning of the year government have started Affordable Housing Fund with Rs 60,000 crores. Out of 11 million homes, the government has already sanctioned 5.5 million homes. The government every month is sanctioning 3,000 to 5,000 homes”, Puri said.
Recently in a meeting, the number raised to over 6,000 sanctioning of homes.
Infrastructure sector has seen paradigm we are only going to invest 2 lakh 10,000 crores in the next five years for metro and Trans harbour. The metro track will be spread over 210 km, Hiranandani said.
PMAY will never fail due to its design, most important any scheme where things are to deal with affordable housing is an issue of land availability, it may count 40% of the value of sometimes higher. If there is land being made available for affordable housing and depending on which is clearly defined and the government’s supports than how can a project fail? Puri asked.
During the speech, he said, “The problem of the affected homebuyer today is well on its way to resolution.”