Union Ministers Hardeep Singh Puri & Dr. Jitendra Singh attend the first ever ‘J&K Real Estate Summit- 2021-Unlocking Opportunities’

Dec 27,2021

Minister of Housing and Urban Affairs and Petroleum and Natural Gas Shri Hardeep Singh Puri today said that Real Estate being the second largest employer in the country, with the multiplier effect will create innumerable opportunities in J&K in terms of employment, investment and hence economic growth. The Minister said this while addressing the first ever ‘Real Estate Summit- 2021’ at Convention Centre, Jammu.

The Real Estate Summit- 2021 is organized by the Department of Housing & Urban Development Department, Government of Jammu and Kashmir in collaboration with the Ministry of Housing and Urban Affairs, Government of India.

Sh. Hardeep Singh Puri in his address said that the natural endowments in the UT of J&K & resilience of its people are second to none in the world which is now needed to be translated into economic development, prosperity and ease of living. The Minister further said that this first ever Real Estate Summit will rectify the past and will have a  multiplier effect in J&K in the coming years.

Sh. Puri also said that the demand for real estate construction in J&K is not only in housing but also in tourism, hospitality, warehousing, which is at least 2.5 to 3.0 lakh units. The Minister further said that J&K has land and ready demand & this summit today will accelerate that process in due course of time.

Sh. Puri expressed satisfaction that the Real Estate Regulatory Authority Act (RERA) and the Tenancy Act have been implemented in J&K which will help in the ease of doing business here.  Sh. Puri also said that the Metro Railway Project in J&K is in the final stages of approval.

Sh. Puri also said that the implementation of the flagship schemes like AMRUT, Swachh Bharat Mission, Smart City Mission, PMAY etc. in J&K are much appreciated and the figures of implementation are very encouraging.  Sh. Puri emphasized that a Davos like platform must be created in J&K having nice topography for which the J&K Government will be fully supported by MoHUA.

Union Minister of State (Independent Charge) Science & Technology; Minister of State (Independent Charge) Earth Sciences; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr. Jitendra Singh in his address during the summit said that J&K is now entering the mainstream journey of PM Modi’s New India & the first ever ‘Real Estate Summit' today is one of its important links to connect it to the mainstream India.

Dr. Singh said that the investment proposals in J&K will reach Rupees one lakh crore in the coming years.  As envisaged by PM Sh. Narendra Modi, Dr. Singh said that J&K should be at par in terms of economic development with the other states and UTs of the country in various sectors.

Dr. Singh also said that all the Central Laws- be that the Prevention of Corruption Act, RTI Act, CVC Act etc. are now applicable to the UT of J&K like other states and UTs in the country. He further said that all the erstwhile laws in J&K which were the impediments in the progress and development of J&K have been either repealed or amended.

Dr. Singh also said that the important development projects that were earlier stalled were taken care of after 2019 like the Shahpur Kandi Dam Project. The Minister further said that a new dawn of development has emerged in J&K after 2019 like the establishment of two AIIMS, eight medical colleges, IIT, IIM, IIMC, North India’s First Biotechnology Park, National Highway Projects etc.

             Dr. Singh also said that if J&K wants to be part of global India as India being a part of global world, it has to follow all the parameters followed by the rest of the country to seek all the benefits which are made available by the government.

Dr. Singh reiterated that soon after PM Sh. Narendra Modi took oath as the PM of India on 26th May, 2014, one of his earliest declarations of intent was that his government would resolve to bring those regions of the country on the path of development which have missed the development journey of the rest of India so as to make them at par with the developed regions of the country.

Lieutenant Governor J&K, Sh. Manoj Sinha in his address said that this first ever Real Estate Summit in J&K will have a multiplier effect on J&K in terms of investment, employment, GDP etc. LG further said that the erstwhile laws have been amended after 2019 and all the Central Laws have been applied for the welfare of the people of J&K as the erstwhile laws were the real hurdles in the development of the UT. LG emphasized that with the opening of plethora of avenues in J&K after abrogation of Article 370, the time will come that it would become Davos of New India.

Secretary MoHUA, Sh. Durga Shanker Mishra said that a paradigm shift in terms of development has been witnessed in every sector in J&K after 2019. He further impressed that the UT has now become the real paradise on earth with the opening of many development sectors like real estate creating plethora of opportunities for the people in terms of employment, investment etc.

During the summit, Shri Hardeep Singh Puri e-launched ‘Auction of Assets Portal’, Affordable Rental Housing Complexes Scheme at Sunjwan, Jammu, J&K RERA portal, Housing Schemes and J&K Housing Mission Portal.

During the summit, many MoUs were exchanged between NAREDCO National & NAREDCO J&K Chapter, NAREDCO & LEAD, NAREDCO & NAR, NAREDCO & J&K Housing and Urban Development Department, JK Industry & Commerce Department and Haldiram and JK Housing Board &Central Government Employees Welfare Housing Organization.

Chief Secretary J&K, Sh. Arun Kumar Mehta, Vice Chairman NAREDCO, Dr. Niranjan Hiranandani, President NAREDCO, Sh. Rajan Bandelkar, Principal Secretary, Housing and Urban Development Department JK, Sh. Dheeraj Gupta, Mayor Jammu, Sh. Chander Mohan Gupta, Mayor Srinagar, Sh. Junaid Matoo besides senior officers of UT and Central Government & delegates from many states were also present in the summit.

YB/NJ/SMA