Housing and infrastructure are important contributor to Indian economy and generate significant income and employment owing to large forward and backward linkages through creation of demand in input sectors and real estate services. Growing at a CAGR of 8-10 percent in the past, the sector has witnessed a significant slowdown in last few years on account of weakening global and domestic growth.
Several policy initiates have been taken in last one year and Government is in process of resolving the issues related to ease of doing business. To address the issues related to housing shortage, Government of India has announced Pradhan Mantri Awas Yojana (PMAY) envisaging in-situ slum redevelopment, credit link subsidy, affordable housing in partnership and subsidy for beneficiary led housing construction. Massive schemes for rejuvenating urban infrastructure and making cities smart have also been launched. Foreign direct investment (FDI) and external commercial borrowing (ECB) norms have also been relaxed for easy flow of money in the hands of developers and home buyers.
Govt. is targeting 6 crore houses – 2 crore in urban areas and 4 crore in rural areas by 2022, with a view to provide housing to all by 2022. Budget 2016-2017 has made many provisions to incentivize affordable housing construction.
Considering the above, NAREDCO has decided to organize a Convention to deliberate on the strategies for exploiting the potential of real estate as the best asset class and an engine of high economic growth in the coming years. The Convention provides an opportunity to all stake holders to deliberate the challenges before the sector and evolve strategies to accelerate pace of growth. The future now looks bright with the Government commitment to provide housing for all by 2022, rejuvenate urban infrastructure and make cities smart.
The objective of the convention is also to deliberate on the existing scenario and prepare road map for various legislative, regulatory, administrative and financial reforms. The thrust will be on inclusive development with conducive environment to fast track development with an objective to accomplish the vision of Housing for All by 2022 and make cities sustainable and smart. Indian economy has its own strengths and has the potential to grow at a rapid pace irrespective of slowdown globally. Our Hon'ble Prime Minister has already foreseen and projected India as a potential market to attract Foreign Direct Investments which are happening and economic growth is bound to happen.read more...
The two days Convention is expected to be attended by delegates from across India & partner countries. Representatives of Central and State Governments, State Development Authorities and Housing Boards besides real estate developers, builders & senior professionals, banking and housing finance companies, town planners, architects, and other associated industries will be participating. The convention also offers unique opportunity for networking with the various stake holders of real estate industry.
Hon'ble Prime Minister has been invited to address the real estate stakeholders. Hon'ble Ministers of Urban Development and Housing & Urban Poverty Alleviation and Parliamentary Affairs, Finance, Civil Aviation, Road Transport & Highways, Hon'ble Ministers of State (I/C) for New & Renewable Energy, Labour and Employment, Skill Development & Entrepreneurship, Commerce and Industry, Environment, Forests & Climate Change, Hon'ble Minister of State for Urban Development and Housing & Urban Poverty Alleviation and Hon'ble Ministers of other related Departments of Government of India and Chief Ministers of States have also been invited to address the delegates.
Prominent overseas experts, Policy makers from Central and State Governments, Public and Private Sector Developers, Bankers, Financers, Taxation experts, Technology providers, product and material providers, academicians and other stake holders of real estate sector have been invited as speakers.
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