The state of Haryana has been a pioneer in providing a conducive environment for accelerated growth of the real estate sector. Taking into cognizance the need to continuously offer a progressive policy environment for the Urban and Real Estate sector,….
Chandigarh, February 24 – The state of Haryana has been a pioneer in providing a conducive environment for accelerated growth of the real estate sector. Taking into cognizance the need to continuously offer a progressive policy environment for the Urban and Real Estate sector, Town & Country Planning Department and Haryana Real Estate Regulatory Authority (RERA), in partnership with NAREDO and CREDAI, are organizing a two-Day Urban Development Conclave- Future Road Map For Urban Development And Challenges In Implementation Of Rera.
Giving information in this regard an official spokesperson said that the conclave intends to extensively deliberate on the challenges faced by the real estate ecosystem stakeholders, i.e., Allottees, Developers, Real Estate Regulatory Authority, and concerned Government agencies. Over the two days, various technical sessions are being planned to brainstorm on the vital issues pertaining to resolution of challenges impacting the implementation of RERA pertaining to the phasing of projects and other related issues such as obtaining consent from 2/3rd allottees, additional FAR utilization due to ToD/TDR, the definition of common area.
He further said that the Conclave will also evaluate possible ways for resolution of stressed assets, under the existing statutory provisions of Haryana Development and Regulation of Urban Areas Act 1975, The Real Estate (Regulation and Development) Act, 2016, and IBC 2016 (NCLT). It will also streamline the functioning of the Town & Country Planning Department by virtue of implementation of digital interventions, strengthening the mechanism of structural safety certification, EDC recovery, and execution of EDC works, strengthening of electrical infrastructure, fire safety, and simplification of approval processes, and resolving challenges related to Housing for All.
He said that there will be deliberation on issues pertaining to internal and external infrastructural development and sectoral plan implementation issues related to the development of 24-meter roads.
He further informed that the Inaugural session on February 25, 2022 will be attended by senior government functionaries including Haryana Chief Secretary, Sh. Sanjeev Kaushal, Secretary, Ministry of Housing and Urban Affairs, Government of India, Sh. Manoj Joshi, Additional Chief Secretary, Haryana Town & Country Planning, Sh. Devender Singh and Chairman, RERA Panchkula, Sh. Rajan Gupta.
Further, the opening ceremony on February 26, 2022 shall be attended by Chief Principal Secretary to Chief Minister, Sh. DS Dhesi, Principal Secretary to Chief Minister, Sh. V. Umashankar, Chairman, RERA, Gurugram, Sh. K.K Khandelwal, and Director, Town & Country Planning, Sh. K. Makrand Pandurang.
The spokesperson said that subsequently, technical sessions will be attended by senior state government officials from various departments. One of the objectives of these sessions is to learn from and dovetail the good practices of other states. Therefore, RERA chairs of other states such as Uttar Pradesh, Rajasthan, Bihar, Himachal Pradesh, Jharkhand, Tamil Nadu, and Karnataka shall be sharing their perspectives on urban development and effective implementation of the RERA.
The sessions are expected to be attended by approx.200 developers/ colonizers. Further, to boost the sentiment in the real estate sector, the Government of Haryana shall also be presenting the awards during the conclave to select colonizers who have been evaluated upon key parameters such as timely delivery, no outstanding dues, and no registered grievances, he added.
He said that the Government intends to announce key policy measures to address some of the aforementioned challenges. During the Valedictory session, the Haryana Chief Minister, Sh. Manohar Lal will be launching various policies and systems.
The Urban Development Conclave is a step towards realizing the Chief Minister’s commitment to providing housing for all with a focus on regulated urban development, he added.
He further informed that the real estate sector in India is expected to reach US$ 1 trillion in market size by 2030, up from US$ 200 billion in 2021, and contribute 13% to the country’s GDP by 2025. In India, the real estate sector is the second-highest employment generator. Over the last few years, the sector witnessed turbulent times, with COVID having an adverse impact on the overall sector growth. However, the sector is seeing a sign of recovery over the past few months. With the economy recovering and the real estate market steadily coming back on track, the year 2021 saw a significant increase of 85% in new launches at approx. 2.36 lakh units across the top 7 residential markets in the country, he added.
No.IPRDH/2022
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