Affordable Rental Housing Complex will create a New Market in the Economy, Ease the Lives of Labourers & succeed in building a Self-Reliant India

No.PR-234 August 29, 2020 New Delhi Affordable Rental Housing Complex will create a New Market in the Economy, Ease the Lives of Labourers & succeed in building a Self-Reliant India We have structured Pradhan Mantri Awas Yojana to accomplish the vision of Housing for All 2022, mentioned Shri Durga Shankar Mishra, Secretary H&UA, Ministry of Housing, and Urban Affairs in the session organized by PHD Chamber of Commerce and Industry on 'Housing for All 2022'. Shri Durga Shankar Mishra apprised about the initiatives undertaken under the (PMAY) Pradhan Mantri Awas Yojna' that was announced by Hon'ble Prime Minister in 2015. With the help of both public and private sector we have been able to sanction a major portion of housing projects and have grounded them as well. With the use of technology and diligent efforts of the public authorities, we have been able to provide basic facilities to the citizens in these houses such as water, electricity, gas, and sanitization said Shri Durga Shankar Mishra. Talking about the Affordable Rental Housing Complex, he mentioned that has been taken for the first time in India and, we need a strong set of laws so that the rights of Owners and tenants are balanced. With the help of government and industry, we will be able to implement this for the betterment of the nation. Affordable Rental Housing Complex will create a new market and, ease the lives of labourers, thus a step towards making India Self-Reliant. While appreciating the suggestions given by PHD Chamber, Shri Mishra urged PHD Chamber to submit these representations which can be looked into by the concerned public authorities Mr. Manoj Gaur, Managing Director, Gaur Group lauded the proactive initiatives undertaken by the Ministry of Housing and Urban Affairs in achieving the mission of Housing for All. He said that rental housing will be the next game-changer in this sector that will also lead to the development of the economy and a step towards Self-Reliant India. He further mentioned that it is the need of the hour to streamline the allotment process of the houses under Pradhan Mantri Awas Yojana and the need for finances in the land and infrastructure. Mr. V R Sharma, Managing Director, Jindal Steel, and Power Ltd while talking on the subject deliberated on the emerging technologies under affordable Housing Segment. CA Himanshu Goyal, Managing Partner, Ramanand Goyal & Co delivered a formal vote of thanks to Shri Durga Shankar Mishra and other delegates. He recommended that industry bodies like PHD Chamber should take initiatives and Submit white papers to the government from time to time.. Dr. D.K Aggarwal, President, PHD Chamber of Commerce and Industry in his presidential address deliberated on our Hon'ble Prime Minister, Shri Narendra Modi's vision of ‘Housing for All by 2022' and was assured that with the proactive steps undertaken by the government are in the right direction and will go a long way to fulfil the dream of each citizen to own a house in the near future. He lauded the various other initiatives undertaken by the government in the housing sector that has increased the demand and reduced the buying cost among the masses. He discussed the slowdown in the housing sector due to reduced demand and supply caused by the pandemic wave which has struck all sectors of the economy significantly. Dr. Aggarwal while talking about the effect of COVID-19 on the real estate sector, shared his recommendations that we need to extend the moratorium to one year; ease in the availability of loans by increasing the SWAMIH Investment Fund and take initiatives to bring back migrant labourers. Mr. Manish Agarwal, Chair Housing and Urban Development Committee, PHD Chamber Highlighted the need to increase demand for the developers by taking initiatives like reducing stamp duty and others that will help industry to increase the cash flow for the developers which will in turn supplement the other associated industries. Talking about Housing for All, he appreciated the success of the government for making efforts so that they can accomplish this mission. He further suggested that the government should have a Pan-India database for the buyers to help developers understand the buyer’s preferences. He also emphasized on the single window clearance and reduction of GST on the raw material of the buildings. The session was moderated by Dr. Yogesh Srivastav, Principal Director, PHD Chamber, and was attended by many senior member and industry stalwarts' pan-India. The session was supported by Jindal Steel and Power Ltd and Gaur Group. Ends Media Division PHD Chamber of Commerce and Industry