New Delhi, June 25, 2015: The new housing policy initiatives launched today by Prime Minister Mr Narendra Modi are bound to give the much needed fillip to the real estate industry, apart from addressing the shelter needs of the urban poor, according to leading developer Rajesh Prajapati.
Hailing Mr Modi’s announcements, Mr Prajapati, who is also the Managing Director of Prajapati Constructions Limited, said the PPP model and housing interest subvention by 6.5 per cent for the Economically Weaker Sections of our society being adopted will go a long way in meeting objectives of Housing for All or creating 2 crore houses by 2022.
The honourable PM expressed the hope that the face of urban infrastructure, which is woefully inadequate now, will change with the execution of the plan for creation of 100 smart cities and upgradation of existing facilities in another 500 cities.
The bottom-up approach is an excellent move, he said and expressed the hope that the local self governments will work in the right earnest. Real estate is typically a localized industry and the state and central governments at best could lay down policy guidelines, leaving the implementation to local level authorities.
“We as developers are very happy that the Centre has realized this and we hope that the local governments and planners will work in a fair manner providing level playing field to all,” he said.
For instance, bona fide developers have been raising concern over haphazard and rampant unauthorized construction on the outskirts of Navi Mumbai. The authorities need to act swiftly and quickly to check this menace, he said.
“Urbanization is the need of the hour and it is good if the government facilitates this process with quick and easy approvals and hassle free allocation of land parcels,” he added.