NEW DELHI: “India is on the right trajectory to achieve its vision of being among the top nations in the coming decades by 2047, with robust infrastructure development and sustainable development taking place in the country’s urban areas, Amit Shah, the Home Minister and Minister of Cooperation, said. Speaking at CREDAI’s National Conference ‘Viksit Bharat @ 2047’, Amit Shah emphasised the importance of real estate developers in deciding the future of Indian cities.
He stated that the target has been set by Prime Minister Narendra Modi to make the country a leader in all areas while expanding the economy to the $5 trillion target. The government has spent the last 11 years on the next generation of infrastructure, such as the National Infrastructure Pipeline, which has given a furtherance plan for the growth and ease of doing business. On CREDAI’s contribution, Shah added that this organisation has emerged as a green force by planting close to 2 million saplings and reviving approximately 9,000 acres of barren lands in 25 villages around this time last year. CREDAI has inspired many builders to make green areas a part of every project, and this has helped Mumbaikars benefit from the programmes initiated by CREDAI, he added. He mentioned that the organisation, which has a presence in 230 cities and 21 states and constitutes about 13,000 developers, has played a very important role in the regularisation and professionalisation of the real estate sector. He stressed that social respectability is as essential as economic viability and appreciated the role of CREDAI in training over three lakh construction workers.
The Home Minister highlighted that the urban population in India is projected to be around 40 per cent by 2035, whereas by 2047, it is expected to touch nearly 50 percent, which is a huge task for the construction industry to address in terms of “providing adequate and affordable housing”.
He emphasised the need to work on eco-friendly, affordable, and sustainable housing solutions and said that “single window clearance, approval, and digitisation have increased people’s confidence in the sector.” Shah named the Real Estate (Regulation & Development) Act as a revolutionary piece of legislation that brought transparency & protection to buyers with over 1.55 lakh projects and 1.10 lakh developers registered under RERA.
He further stated that the reforms under GST have decreased the cost of construction manyfold with 100 per cent FDI and the National Urban Housing Fund worth Rs 60,000 crores that further fuelled the growth in the industry. Exhorting focus on sustainable development, Shah appealed to CREDAI to make green building standards, energy-efficient designs, water conservation, and scientific waste management a norm, adding that “responsible developers are at the heart of our vision for a developed and liveable urban India.”