New Delhi, February 14 Union Minister Manohar Lal indicated on Saturday that a dedicated fund could be established to revive stalled housing projects approved prior to the implementation of RERA, in line with broader industry suggestions to ensure a win-win settlement for both promoters and homebuyers, a statement said on Saturday.
Addressing the second day of the 'National Urban and Real Estate Development Conclave' organized by NAREDCO, the minister elaborated on the issue of establishing charitable institutions to fund affordable housing in the LIG and EWS segments.
The minister pointed out that funds could be raised through CSR contributions in such proposed charitable institutions to generate funds for the poorer sections of society, since banking and financial institutions are barely proactive in supporting this segment.
According to the statement issued by NAREDCO, the minister indicated that the government would develop close to 700-750 slum settlements in and around NCT, for which a policy framework is being deliberated upon by various stakeholders within the various authorities of the government at a very high level.
Speaking on the occasion, NAREDCO chairman Niranjan Hiranandani said that the government has made great efforts to ensure that housing attains a priority in the Indian economy, but a great deal more needs to be done so that the contribution of the housing sector increases to 15 per cent by 2047.
