Concerned over real estate issues, UP CM hints at package for sector
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Concerned over real estate issues, UP CM hints at package for sector

Adityanath said that the approach to resolve real estate issues should be positive.

Concerned over real estate issues, UP CM hints at package for  sector

Expressing his concern over the problems faced by home buyers in the state, Uttar Pradesh Chief Minister Yogi Adityanath on Monday said that his government was sensitive to the real estate issues and indicated that he might announce a package to resolve them.

The chief minister was addressing chairmen of different real estate regulatory authorities from 17 different states in Lucknow at the opening session of RERA conclave.  

Pointing out that most of real estate issues were related to the national capital region (NCR), under which seven districts of Uttar Pradesh fall, he said that the state government was keen to resolve the real estate issues of Noida and Greater Noida with an announcement which would be made shortly.

In this direction, he constituted two high-level committees – one of ministers and the other of officers headed by Durga Shankar Mishra, Secretary of Housing and Urban Affairs, government of India. He said that the committees would submit a report within a week’s time with suggestion on steps to solve the problems of the real esate. 

Adityanath said that the approach to resolve real estate issues should be positive. They had held joint meetings of home buyers and builders and necessary direction was given because of which one lac home buyers were given keys of their homes. 

The chief minister also announced that henceforth the conclave would take place every year. This time, it was held at Indira Gandhi Kala Kendra, Lucknow in which Hardeep Singh Puri, Union Minister for Housing and Urban Development (independent charge) was invited as chief guest.Adiyanath said that there were approximately one crore homes and owners of these homes do not want to rent them. For them, a model tenancy Act would be brought shortly, he said.

According to Mishra, real estate sector contributes 7 per cent to the national GDP. It offers employment to four crore youth. Rs 700 crore are invested in real estate sector through FDIs.