Construction Industry News
Housing and Urban Affairs and Petroleum and Natural Gas Minister Hardeep Singh Puri said that as real estate is the country's second largest employer, it will create numerous jobs in Jammu and Kashmir.
Puri said the proposals for the Jammu and Srinagar metro rail projects have reached the final stage to be approved by the PIB-Public Investment Board.
The minister announced this during the 'Real Estate Summit-2021' in Jammu.
The Ministry of Housing & Department of Urban Development, Government of Jammu and Kashmir organized the Real Estate Summit 2021 in cooperation with Ministry of Housing and Urban Affairs, Government of India.
He further noted that the demand created for real estate construction in Jammu and Kashmir is not limited to housing. It includes tourism, hospitality and warehousing. In time, the summit will further accelerate the process.
The Real Estate Regulatory Authority Act (RERA), as well as the Rent Act implemented in Jammu and Kashmir, will help in conducting business activities with ease.
Singh also said that the investment proposals in Jammu and Kashmir could reach Rs One lakh crore in the coming years. In terms of economic development in all sectors, Jammu and Kashmir should be as good as the other states of the Union territory in the country.
