Amit Shah Pushes Sustainable Growth in Real Estate Sector

Union Home Minister Amit Shah sketched out a visionary plan of the Indian real estate industry by urging developers to put more emphasis on green spaces, skill development, and environmental regulations to enhance sustainability in cities.

The Confederations of Real Estate Developers Associations of India (CREDAI), Shah noted that the consciously planned green spaces in real estate development were no longer a luxury but were necessary to enhance the liveability in the urban environment and balance.

Key Highlights

• Amit Shah called for more green spaces in real estate projects.
• He highlighted RERA’s role in protecting buyers and easing operations.
• GST cuts on building materials to help lower costs and improve amenities.

In his address to the industry leaders, Shah also highlighted the necessity of organized training programmes to the workers of the construction industry, stating that a qualified working force is a major contributor to enhanced productivity, safety level, and the quality of the entire project. He emphasized the fact that an investment on skill building would not only help the developers but also generate long term value among the hands-ons and the sector as a whole.

Shah commended the adoption of the Real Estate (Regulation and Development) Act (RERA), which he said was a landmark reform in the industry that has brought more transparency, accountability, and efficiency to the sector.

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He also noted that clearly defined regulations are to be seen as business facilitators and not restrictions since they provide a stable and predictable environment to grow.

The Union Home Minister also indicated the recent cuts in Goods and Services Tax (GST) rates on certain building materials that they would assist in reducing the costs of construction. This, he said, would enable the developers to share the benefits with the customers as an improvement in amenities and the offerings of the projects.