Urban Infra can attract Rs 10 lakh crore investment in coming years: Housing Secretary

Urban Infra can attract Rs 10 lakh crore investment in coming years: Housing Secretary

Srinivas Katikithala, Secretary, Ministry of Housing & Urban Affairs, said that the Indian urban sector is expected to witness an investment of around Rs 10 lakh crore in the coming years for creating infrastructure.

He emphasized that housing would be one of the key components of this investment and urged the infrastructure industry to contribute proactively.

“The Ministry of Housing & Urban Affairs is at the center of policymakers’ focus, including the top political leadership of the country. Urban infrastructure, including housing, remains a top priority for Prime Minister Narendra Modi, who continuously monitors the sector’s progress,” Katikithala said while addressing the 2-days NAREDCO 17th National Convention “India Builds: Reimagining Growth through Real Estate and Infrastructure” which began on August 29.

He also indicated that necessary reforms will be introduced to further strengthen RERA in multiple states so that housing projects, particularly in the affordable housing segment, do not suffer delays due to registration issues.

He further pointed out that nearly Rs 30 lakh crore worth of investments have been made in urban infrastructure over the last decade, ensuring India’s accelerated growth trajectory. He called upon participants from the infrastructure sector to collaborate with government agencies and institutions to take this momentum forward.

Virtually addressing the convention, Tokhan Sahu, Minister of State for Housing & Urban Affairs, said that the extension of RERA should be designed to create a “win-win” scenario for all stakeholders while meeting the government’s objectives.

G. Hari Babu, President, NAREDCO, highlighted the need to multiply project registrations under RERA to accelerate housing momentum. He pointed out that in Delhi only 123 projects were registered recently under RERA, compared to nearly 5,000 in Tamil Nadu and about 6,000 in Maharashtra.

Niranjan Hiranandani, Chairman, NAREDCO, urged the government to continue with forward-looking policies so that the objectives of various housing and infrastructure schemes are achieved effectively.

Speaking at the event, Sudhansh Pant, Chief Secretary, Government of Rajasthan, shared that nearly Rs 25,000 crore worth of infrastructure projects have been grounded in the last 7-8 months in the state. He expressed confidence that projects worth Rs 1 lakh crore would be grounded before 2026, and invited industry stakeholders to explore Rajasthan as a destination for infrastructure investments.