Addressed the Virtual Conference on Real Estate Resurgence of @FollowCII. Lockdown to curtail spread of Covid-19 has impacted all sectors adversely including real estate. Reverse migration of construction labour & break in supply of materials, have disrupted works considerably.
On Ministry’s Advise, RERA of 27 States/UTs have revised timelines of registered projects by 6/9 months automatically as force majeure. Also, States/ Agencies have extended validity of various approvals/ clearances by one year.
RBI has recently provided 6 months moratorium to all loans. All these steps will save projects from getting stalled/ stressed, obviate unnecessary litigations, and ensure timely delivery of houses with new milestones to homebuyers- a win-win for all, specially the homebuyers.
Congratulations to CII for organising a timely discussion on Resurgence of the Sector. Government has taken various steps in last 6 years to rejuvenate the sector. This includes RERA, a transformative legislation to bring transparency, accountability & credibility in the sector.
Ease of Doing Business in Construction Permits, where India has jumped 159 places in last 4 years in World Bank Ranking, implementation of Online Building Permission in 2,056 cities & all cities of 14 States/UTs is major relief. It will be extended to all 4,350+cities by Mar 2021
Various majors have been taken like direct/indirect tax reliefs, improved liquidity via Affordable Housing Fund, National Urban Housing Fund, Last Mile Fund, relaxation in ECB norms for HFCs, Special Fund in NHB, increased Home Loan limit for Govt employees & #HousingForAll.
With over 1.05 cr sanctioned houses, over 65 lakhs grounded and over 35 lakhs completed with toilet, drinking water, gas, electricity etc and handed over to beneficiaries, has led to huge employment generation and boost in demand of many industries specially cement & steel.
In last 5 years construction sector has increased labour absorption from 4 to 5.5 cr ie additional 1.5 cr. demand. With government policies, there is huge scope in investment in affordable housing, where lies assessed gap in demand.
Govt is actively considering Model Tenancy Act for circulation to States/ UTs to legislate another transformative law, which will open up Rental Sector in Housing, Commercial & Institutional real estate in a big way.
Affordable Rental Housing Complexes was announced by Hon’ble FM as part of #AtmaNirbharBharat. Ministry will soon launch the scheme. That will open up a new scope in real estate investment to cater to requirement of urban migrants/ poor, which will provide them dignified living.
It will also improve their ease in living and productivity.
I admire CII for taking up positive deliberation to make the best out of government policies & encourage real estate industry to be active participant in AtmaNirbhar Bharat on its journey from 3 to 5 trillion $ economy.
Meeting upcoming demand using technology with speed, skill & scale will crop win-win-win for all!
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During my recent visit to National Botanical Garden in Lucknow, I discovered many wonders of God’s own nature, some extremely beautiful plants that are being conserved/researched here. I immediately had the urge to capture these beautiful plants & learn about their nature & being
I would like to share all the aspects & beauty of these plants, one each day in this series of ‘Plants of National Botanical Garden, Lucknow’.
I am sure you all, my nature loving friends, would be happy to know about these & visit this garden soon!
Visited LightHouse Project site (LHP) at Perumbakkam in Chennai today. Hon’ble PM laid the foundation of this work of constructing 1,152 G+5 houses on 1 January 2021. Ms Sirke is using Precast Concrete Construction Technology from Finland to deliver this work in less than a year.
Was extremely impressed to see the progress on site. On the one hand, raft, base concrete slab etc are going for 4 towers, precast elements like roof slab, hollow columns, stairs etc are being cast in a temporary factory type of set up around 200 metres away from the site.
A Third Party expert body will be monitoring the quality.
Ms Sirke’s senior official told me that they guarantee life for 100 years & if maintained well, these houses will last for many more years. Could observe resource efficiency, speed & meticulous precision work on site.
Heartiest congratulations to Govt of Tamil Nadu & their Koyambedu Tertiary Treatment Water RO Plant in Chennai for receiving Global Water Award 2020 for Wastewater Project of the Year!
It is an AMRUT funded Project to convert secondary treated water into better than drinking quality level.
Visited this Plant today. It is getting 60 MLD secondary treated water from the STP set up in adjoining plot, with capacity to produce 214 MLD water.
With this, after purifying through detailed process, consisting of stabilising, filtration with different levels of porosity & ozonisation, it delivers pure water with high quality.
This water is being taken by pipes to over 60 kms to be consumed by various industries.
Reviewed progress of flagship urban missions in Tamil Nadu today in Chennai. With nearly 50% urban population & 664 cities/ towns, this State is the most urbanised State in the country.
With focus of on enhancing ease in living & improving urban landscape, huge investments have been made in TN by my Ministry in last 6 years.
These include central assistance, State/ City contributions, individual investments & PPPs under various missions/ schemes.
Under AMRUT, works worth over ₹12,500 cr have been taken up on water/ sewer systems & accessible green parks. Over 6.5 lakh water & nearly 14 lakh sewer connections have given, around 4 lakh street lights turned LED etc.
Inspected 9 km metro section of Washermenpet to Wimco Nagar, which is ready for inauguration by Hon’ble PM tomorrow at 11 am in Chennai. This section covers very thickly populated areas of Northern Chennai.
It connects to large number of public/private huge sector industrial units & now connect them to airport, major railways & inter/ intra-city bus stations. Happy to interact with empowered transgender operators, who are fully trained to run New Washermenpet Station.
Wimconagar is themed on Swachh Bharat Mission. Happy to visit Aavin, a TN Milk Cooperative Booth & TRIFED Stall with Tribal India products as pioneer public facilities on the stations. The whole setup is is geared for tomorrow’s event.
Visited the Integrated Command & Control Centre (ICCC) developed by Chennai Smart City today. As a brain & nervous system of the city, it is delivering many services to improve quality of life of citizens.
For example flood control & rain water monitoring on real time basis with sensors/cameras help in better preparedness & quick response to any calamity.
It is used for solid waste management.
Garbage collection vehicles are tracked, health of 210 water bodies measured, citizens' grievances managed. It is also being used as a citizen service portal. Many other applications like citizens’ safety, traffic & public transport services, water/sewer SCADA are getting added.