The Finance Minister Piyush Goyal is scheduled to meet the real estate developers today in order to discuss various issues like land acquisition and tax that directly impact the property market. This meeting will take place in New Delhi and several banks will also be the part of this meeting.
According to the sources, NHB, the National Housing bank will also be present at the meeting along with the Non-Banking Financial Companies [NBFC], Niti Aayog and the officials from the Urban Development Ministry. This meet will focus on the ways to offer housing for all by 2022.
Earlier this year, Hardeep Singh Puri, the Union Minister for Housing and Urban Affairs said that the Central Government led by Narendra Modi-led Central Government is working at a good pace to reach the set target of Housing for all under the Pradhan Mantri Aawas Yojna [PMAY] well in time by the year 2022. The Government aims to build 1.2 Crore housing units by 2022 in order to provide housing to LIG [Low Income Group] and MIG [Middle Income Group] sections of the society.
Until now, Uttar Pradesh had delivered the maximum number of affordable homes and Rajasthan has also completed the construction of 3 lac homes under PMAY scheme. Also, the Government is ensuring work at a good speed and also sanctioned construction of 45.86 lakh houses in last four years. According to the data released by the Ministry for Housing Urban Development earlier this year, the sanction rate has also witnessed hike by 240 which is much more than the previous UPA Government led by the Congress party. Apart from sanctioning and building new housing units, the Narendra Modi led-current Government is also completing the construction of 7.25 lakh residential units under the JNNURM that begun to be during the UPA Government’s regime.