Additional Secretary of the Ministry of Housing and Urban Affairs, D Thara urged the real estate sector to gear up to meet challenges related to sustainability in housing projects by preparing to invest in rain harvesting and use of solar energy.
Speaking at the 3rd convention of NAREDCO Mahi, the women wing of NAREDCO (National Real Estate Development Council), in New Delhi on June 14, Thara also said that the real estate sector should focus on the construction of affordable housing as per the envisioned practices of the new NDA government led by Prime Minister Narendra Modi.
“In future housing projects, the real estate sector would need to create more walkable spaces and provision for parks, pathways powered by solar energy. Additionally, builders would need to incorporate ample rain harvesting and water resource management within their project site, rather than depending on water supplies from neighbouring locations,” Thara said.
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The additional secretary also emphasized that investment in rain water harvesting projects should be a core infrastructure plan for the private sector in housing complexes, particularly in the affordable housing sector.
Earlier, speaking on the occasion, President of NAREDCO, G Haribabu, said that there was a need of more participation from women entrepreneurs in the real estate sector. He said that currently women participation in the real estate sector is about 8-10 percent, whereas in other professions such as medical and nursing, women's participation reaches almost 40 percent of the total capacity.
Niranjan Hiranandani, Chairman, NAREDCO, in his address, pointed out that in the first cabinet meeting of the new NDA government, three crore housing units were cleared for the next five years under Pradhan Mantri Awas Yojana (PMAY), of which two crore houses would be built in rural areas, while the remaining one crore units would be constructed in urban areas.
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In his address, Hiranandani also proposed a project worth Rs 25,000 crore in and around Mumbai for the rehabilitation of slum dwellers and said that NAREDCO would soon submit such a proposal to the Ministry of Housing and Urban Affairs for approval.
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