Venkaiah Naidu urges real estate developers to take up affordable housing project in big way

Urban Development Minister M Venkaiah Naidu has urged real estate developers to take up affordable housing projects in a big way. Addressing a conference on Real Estate Sector-Post Remonetisation in New Delhi yesterday.
Mr Naidu said, the future of real estate sector is in affordable housing. He said, over the last two years, government has paid more attention to the real sector and has announced more than 20 supporting measures to revive the sector including tax concessions and exemptions. The Minister said, Centre has so far approved



construction of over 16 lakh affordable houses for urban poor with an investment of about 90 thousand crore rupees.
The Minister expressed concern over private developers not taking up any projects so far. He urged them to change their mindsets and take up affordable housing projects. Mr Naidu said, that his Ministry will soon convene a meeting with real estate bodies and representatives of banks and Housing Financing Companies for promoting affordable housing so that the target of ensuring Housing for All by 2022 would be met.