Maharashtra to Focus on Affordable Homes

• New housing policy will be pro-people, says CM Fadnavis

• Govt plans one-room-kitchen homes too

• NAREDCO Conclave helps focus on burning issue                                                                                                                                                                                                                                                           

Promising that the new housing policy of Maharashtra will be pro-people, Chief Minister Devendra Fadnavis today said his government will focus on affordable housing so as to ensure housing for all three years ahead of the Union Government’s target.

Inaugurating the day-long conclave –‘Vision Maharashtra – Housing for All by 2022 - hosted by NAREDCO ((National Real Estate Development Council), Mr Fadnavis expressed the hope that the State’s geography will change dramatically with none remaining homeless in less than five years. Mumbai, where about half of the people live in slums, will also have a different picture to present, he said.

The day-long conclave, in which several Maharashtra Ministers and government officials participated, was aimed at finding solutions to the vexed issues of affordable housing. KPMG in India was the knowledge partner.

Mr Fadnavis pointed out that the government, as a facilitator, could alone not be expected to solve the massive problem like housing. He called upon private developers to join hands with the government and build low cost homes for the poor. At the same time, he said, one should not compromise with the quality and basic amenities.

He appreciated the Modi government’s initiatives like the real estate regulatory bill and said this will bring in much needed transparency to the sector. He expressed the hope that developers from Maharashtra will welcome the regulator.

He said the government will form a coordination committee to identify the issues that impede the development of the real estate sector and suggest workable solutions.

He vowed to pursue a pro-investor policy so that the industry and business will continue to prosper in the financial capital of India and throughout the State.

NAREDCO president Sunil Mantri said the government’s target of housing for all by 2022 is a gigantic task. “We from developer’s side would like to commit ourselves to do whatever possible to ensure that the target is met,” Mr Mantri said and called for making the housing policy conducive to development and not an obstacle.

Stressing for housing reforms, Mr Mantri called for single-window system of clearances and easy finance for developers and home buyers. Housing sector is highly labour intensive; he said and pointed out that it is capable of generating thousands of jobs and ensuring wellbeing of several families.

“I am sure that the government will tackle the issue in all its seriousness,” he said.

The Housing Conclave was also addressed by various Ministers from the Housing, Revenues, Finance, Industries, Environment & Forest and Public Works Department. Important issues regarding the real estate industry were discussed and deliberated during the conclave which included, Speedy Approvals: MCGM, Revenue, Environment, MMRDA, CIDCO & MIDC, Smart cities, hurdles and way forward with affordable transport, Maharashtra housing regulatory act and Vision – Housing for all by 2022.

The conclave addressed various issues in order to overcome the housing deficit in the State and strategies and action plan to augment supply of housing stock especially targeting the Economically Weaker Section (EWS) and Low Income Group (LIG) segments where the shortage is as high as 96%. Creating a sustainable frame work and mechanism to take care of mis-match between demand and supply in future was also discussed at the conclave.

Mr. Niranjan Hiranandani, Chairman - Conclave Committee, NAREDCO said, “The process of bringing housing to one and all can only become a reality with the active participation of all government bodies, developers and policy makers. NAREDCO provides a perfect platform for bringing together all stake holders to ensure the realisation of dreams of millions of people to have homes of their own.”

Arvind Mahajan, Partner and Head, Infrastructure and Government Services, KPMG in India, stated, “Maharashtra annually contributes about 10 lakh to the urban population of India which is more than 10 per cent of national level. However, the urban population in Maharashtra is highly concentrated in the western region, specifically in Mumbai, Pune and Nashik region. These three cities together account for more than 50 per cent of Maharashtra’s urban population. For the state to continue on the urbanization path, it is important that it undertakes significant expansion of its urban boundaries, ease hurdles affecting real estate development and promote affordable housing development in the city of Mumbai.”

NAREDCO is under the aegis of the Union Ministry of Housing and Urban Poverty Alleviation.

Over 600 delegates from all over the country participated in the conclave including representatives of the Central and State governments, State Development authorities and Housing Boards, besides real estate promoters, developers, banking and housing finance institutions, foreign direct investors, private equity players and town planners.

Several corporate honchos from the construction and urban infrastructure industries, urban planners, top developers, private equity firms, housing finance companies and banks also joined and shared their thoughts at the conclave.

About NAREDCO:

National Real Estate Development Council (NAREDCO) was established as an autonomous self-regulatory body in 1998 under the aegis of Ministry of Housing and Urban Poverty Alleviation, Government of India. It is in this year that the Government of India redrafted the National Housing & Habitat Policy, giving due importance to the Housing and Real Estate sector, thereby declaring housing for all citizens by the year 2010. The Indian housing and real estate sectors and the allied industries hailed the establishment of NAREDCO, as the apex national body for the real estate industry and visualized it as a single platform where Government, industry and public would discuss various problems and opportunities face to face which would result in speedy resolution of issues. It was formed with the mandate to induce transparency and ethics in real estate business and transform the unorganized Indian real estate sector into a matured and globally competitive business sector.

The National Real Estate Development Council strives to be the collective force influencing and shaping the real estate industry. It seeks to be the leading advocate of developing standards for efficient, effective, and ethical real estate business practices, valued by all stakeholders of real estate sector and viewed by them as crucial to their success. NAREDCO works to create and sustain an environment conducive to the growth of real estate industry in India, partnering industry and government alike through advisory and consultative processes.

About KPMG in India

KPMG in India is the Indian member firm of KPMG International and was established in September 1993. It strives to provide rapid, performance-based, industry-focused and technology-enabled services, which reflect a shared knowledge of global and local industries and its experience of the Indian business environment. KPMG in India provides services to over 2,700 international and national clients in India and has offices in Ahmadabad, Bangalore, Chandigarh, Chennai, Delhi, Hyderabad, Kochi, Kolkata, Mumbai and Pune.

www.kpmg.com/in