Union Minister for Housing and Urban Affairs Hardeep Singh Puri on Monday said the proposals for metro rail projects in Jammu and Srinagar cities are in the final stage of approval from the Public Investment Board.
Addressing Jammu & Kashmir Real Estate Summit here, Puri urged the UT government to organise an annual summit like World Economic Forum at Davos in J&K and assured full support from the Centre.
The minister highlighted that metro projects would soon be a reality in J&K.
“Metro projects are in the final stage of PIB approval,” Puri said.
He further said the Centre would consider extending the metro projects to the proposed AIIMS hospital outside Jammu.
He complimented the J&K government for implementing the Real Estate Regulatory Authority (RERA) law and Model Tenancy Act, circulated by the Centre to all states and UTs.
He also praised the UT government for implementing Prime Minister Awas Yojana (PMAY), under which nearly 13,000 houses have been completed out of around 80,000 units.
Puri noted that real estate is the second-largest employment generator in the country, and it has a multiplier effect on the overall economy.
He said the states which have done well in real estate are on top of the economic index.
Puri also sought to allay apprehensions that investments in J&K will lead to unemployment. The minister was surprised over this “nonsensical argument” and wondered how someone could get away with such false logic.
He said there is a massive demand for real estate in the UT; there is a demand of up to 3 lakh units in housing and hotel segments. The UT has the land and also demand for real estate development, he pointed out.
For ease of doing business, he stressed the need for a single-window clearance for approving real estate projects.
Puri said there would be impediments like the updation of land records, and it would take some time to realise the potential.
In his address to investors at the summit, Union Minister Jitendra Singh said investors had come here not to earn profits but teach a business culture.
He said the mindset of business culture has to change.
Allaying apprehensions that outside investments in Jammu and Kashmir will increase unemployment, he said it would provide employment and ensure development.
Batting strongly for taking a cue from a northern-eastern development model, he said if the north-east can be built as a development role model of India, J&K can also move forward on this pattern of the development journey.
Union Housing and Urban Affairs Secretary Durga Shanker Mishra said metro projects would soon commence in J&K.
He said the UT government has agreed to create a separate cell to facilitate investments in J&K.
The development of real estate projects will usher change in J&K and open up lots of economic opportunities.
India reports over 2.86 lakh new cases with positivity rate at 19.59%; 573 deaths
India recorded 2,86,384 new cases of the novel coronavirus and 573 deaths due to the infection in the past 24 hours. According to the data shared by the Union Health Ministry on Thursday (January 27), the country saw 3,06,357 discharges in the last 24 hours, taking the total recovery rate at around 93.23 per cent total recoveries data reached 3,76,77,328.
The total active cases of COVID-19 in India have risen to 22,02,472 (5.46 per cent), the ministry data showed today.
The total death toll in the country is now at 4,91,700. The first death due to the COVID pandemic in India was reported in March 2020.
The daily positivity rate is at 19.59 per cent today.
According to the Indian Council of Medical Research (ICMR), 72,21,66,248 samples have been tested up to January 25 for COVID-19. Of these, 14,62,261 samples were tested on Wednesday.
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Meanwhile, Delhi Deputy CM Manish Sisodia on Wednesday sounded positive about the reopening of schools in the capital. He said that ‘excessive caution can harm children, which is why reopening schools is necessary to prevent further damage to the socio-emotional well being of students.
The Delhi Disaster Management Authority (DDMA) has called a meeting on Thursday to deliberate on easing the curbs in the national capital because of the improved situation of COVID-19. The issue of reopening schools is also on the agenda.
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