Srinagar: Lieutenant Governor Manoj Sinha on Wednesday said that the Rs 1 lakh crore Urban Challenge Fund will prove to be a game changer in India’s urban transformation, redeveloping 300 cities across the country into growth hubs.
Speaking at the Governing Council Meeting of the All India Forum of Real Estate Regulatory Authorities (AIFORERA) in Srinagar, the Lieutenant Governor said the initiative, involving states, union territories, and private players, will boost innovation, strengthen infrastructure, improve ease of living, and embed sustainability in urban planning.
Underscoring the need for a “Whole of Government” approach, Sinha said transparency, accountability, and efficiency brought by the RERA Act, 2016 must be strengthened to protect homebuyers’ interests. He also called for a swift grievance redressal mechanism to make the real estate sector more efficient and credible.
The Lieutenant Governor urged private players and real estate developers to play a greater role in promoting affordable housing, while also stressing uniformity in housing regulations across states and UTs.
“Under the leadership of Prime Minister Narendra Modi, the real estate sector is emerging as a major contributor in realising the vision of Viksit Bharat. Its rapid growth is driven by the aspirations of the common man. The sector must move forward with equitable development, fairness, and transparency at its core,” he said.
He further emphasised the welfare of workers engaged in housing projects, asking developer groups and AIFORERA to work with industry bodies like NAREDCO to ensure workers and their families are not deprived of their rights. Sinha also stressed real-time monitoring of projects and awareness campaigns for buyers.
On the occasion, the Lieutenant Governor released the AIFORERA Journal and Annual Report 2024–25. The meeting was attended by Shri Anand Kumar, Chairman AIFORERA; Shri Satish Chandra, Chairman J&K RERA; Ms Mandeep Kaur, Commissioner Secretary, Housing and Urban Development Department; along with chairpersons of various state regulatory authorities and senior officials.
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