Srinagar, Sept 25 (JKNS): Lieutenant Governor Manoj Sinha on Thursday said the ₹1 lakh crore Urban Challenge Fund will play a decisive role in reshaping Indian cities into hubs of growth, innovation, and sustainability.
Speaking at the Governing Council Meeting of All India Forum of Real Estate Regulatory Authorities (AIFORERA) in Srinagar LG Sinha as per news agency JKNS said, “Rs. 1 lakh crore Urban Challenge Fund will be a game changer in the transformation of our cities and developing them as growth hubs.”
He said the initiative involving states/UTs and private players to redevelop 300 cities across India will promote innovation, robust infrastructure, improve ease of living and integrate sustainability into urban planning.
Lieutenant Governor urged that the ‘Whole of the Government’ approach is needed for advancing this sector and ensuring accountability in timely project delivery.
“The transparency, accountability, and efficiency brought by RERA Act 2016 must protect homebuyers’ interests and swift grievance redressal mechanism is required to transform this sector into a more regulated and efficient industry,” the Lieutenant Governor said.
The Lieutenant Governor also spoke on the intricacies of the Real Estate Sector, its challenges, possibilities and opportunities.
He called upon private players and real estate developers to play their greater role in promoting affordable housing.
“Under the leadership of Hon’ble Prime Minister Shri Narendra Modi, the real estate sector is emerging as one of the major contributors in realising the vision of Viksit Bharat. This rapid growth is driven by the aspirations of the common man.
The real estate sector must move forward with equitable development and urban transformation at its core and ensure fairness and transparency for those who dream of owning a home.
I also want to see this sector becoming more competitive to encourage growth. There must be uniformity and harmony in housing regulations across the states and union territories,” the Lieutenant Governor said.
