Housing minister unveils digital platforms to market residential properties

Housing and Urban Affairs Minister Hardeep Singh Puri on Friday launched digital platforms of real estate bodies CREDAI and NAREDCO to market residential properties, besides releasing a guide book for affordable rental housing scheme for migrants.

The minister launched 'CREDAI Awaas App' and NAREDCO's online portal 'HousingforAll.com' through a video conference.

Puri released the knowledge pack of the government's 'Affordable Rental Housing Complexes' (ARHCs) programme, which has been recently launched to provide rental accommodations to migrant and urban poor.

"We have launched these two portals. The idea came recently and we have been able to implement it," Puri said.

The ARHCs scheme, which has been launched under the Pradhan Mantri Awas Yojana Urban (PMAY-U) as part of Atma Nirbhar Bharat Abhiyan, will help in providing dignified and affordable living spaces for urban migrants/ poor in need, he said.

The ARHCs scheme would also help real estate developers in retaining labour force on their sites, the minister said, adding that rental housing would be beneficial for young people.

On industry demand for one-time debt restructuring and 100 per cent FDI in affordable rental housing, Puri said the ministry is with the industry and these demands will be considered.

"I can tell you upfront, I am all for it because I am clear as to what our objectives are," he said, referring to the industry demand of 100 per cent FDI in affordable rental housing.

At present, 100 per cent FDI is allowed in under construction projects.

The minister said that it is estimated that urban population will be around 600 million by 2030.

On debt restructuring demand, Puri said: "We are with you (industry)."

The minister disagreed on the argument that the real estate industry was being treated as a step child, saying the government has taken various measures for the growth of the sector.

He suggested setting up of a permanent working group comprising members from the department and industry bodies, for faster decision making.

To achieve the government's target under the Housing For All by 2022, Puri said the ministry has almost sanctioned the entire 1.12 crore dwelling units as envisaged under the Prime Minister Awas Yojana (Urban). About 70 per cent of the sanctioned houses have been grounded.

Puri said the face of national capital will change with the implementation of three major schemes, including land pooling policy.

Housing and Urban Affairs Secretary Durga Shanker Mishra said the two new e-commerce platforms by CREDAI and Naredco have potential to become Amazon of real estate.

The secretary said rental housing can be provided easily as the government has completed flats as well as vacant land. Moreover, it will be done through public private partnership.

Mishra said the proposal of model tenancy law will soon be taken up to the Cabinet for approval.

At the virtual event, Credai Chairman Jaxay Shah, Credai President Satish Magar, Naredco Chairman Rajeev Talwar, Naredco President Niranjan Hirandani and Naredco West President Rajan Bandelkar were present.

Tata Realty and Infrastructure Ltd MD and CEO Sanjay Dutt represented FICCI while Neil Raheja from CII took part in the event.

CREDAI Awaas App is a residential project discovery online platform through which buyers will be able to virtually explore and experience the projects from 220 cities across the country. The app aims to facilitate transparent home buying in India of RERA approved projects by CREDAI developers.