Govt funds only for performing cities, states: Venkaiah Naidu
Incentives in form of interest subvention under a new affordable housing scheme called ‘Sardar Patel Vallabhbhai Urban Housing Mission'
Nov 14, 2014
Source : Business Standard


Ahmedabad: Indicating at a major policy decision that his government was planning, Union minister for urban development, housing and urban poverty alleviation on Thursday said that in coming days central government will fund only those states or cities which are ready for reform and have good performance record.

The minister who was here to inaugurate international conference — ‘Muncipalika’ — on sustainable habitat and integrated cities also announced that for people from economically weaker sections (EWS) and lower income groups (LIG), who face difficulty in purchasing a house of their own, his government was planning to provide them with incentives in form of interest subvention under a new affordable housing scheme called ‘Sardar Patel Vallabhbhai Urban Housing Mission’. This mission will be in line with Gujarat government’s affordable housing scheme which was launched by Prime Minister Narendra Modi when he was heading the state.

Another major initiative by his government, Naidu said, was to improve governance in urban areas. For this they will be replacing the existing Jawaharlal Nehru National Urban Renewal Mission (JNNURM) with a new urban mission for which guidelines are being finalised, he added. The JNNURM was introduced by Congress-led UPA government in 2005 to improve civic infrastructure and services. The first phase of the programme ended in 2012 but was extended by two years to March 31, 2014.

“In the coming days the government is planning to fund only those cities and states that are ready for reform and change,” Naidu said in his inaugural address. Fund will also be based on good performance of cities and states, he said. “A guideline is being prepared in this regard by the union government,” the minister added.

Talking about the housing for all target of the Prime Minister, Naidu said, “The Prime Minister had given us a mandate of providing housing for all by 2022. Private developers are doing their work (on housing), but our concentration will be on people of and LIG. For this the central government will be providing tax incentives in form of interest subvention.”

“We will be launching the Sardar Vallabhbhai Patel Housing Mission for which guidelines are being prepared,” he further said in Gandhinagar.

Under the housing mission the central government will pay some percentage of the interest the bank charged from people. “This amount will be paid upfront to reduce the burden of the beneficiary,” Naidu explained. The mission will be formally launched after approval by the (EFC) of the parliament and the cabinet.

According to the Union minister the urban governance in the country was not satisfactory and needs to be worked upon. “To improve the governance in 500 cities we will be replacing the existing JNNURM with a new urban mission soon. The rules and regulations are being framed,” he added.

The minister know for his sense of humor also coined a new term MISIDICI which is combination of abbreviation for four programmes launched by Modi — make in India, skill India, digital India and clean India.

While announcing his government’s initiative Naidu also emphasised the need for cities to generate their own revenue and create a transparent system increasing revenue.

Naidu for pilot project with Infosys on green energy

Naidu is so impressed with Infosys's ideas on green building and energy conservation that he is thinking of doing some pilot projects with the company. "Day before yesterday there was a presentation made by Infosys people about green building and energy savings. They say if we spend 10-15 per cent extra we will be able to save 30-35 per cent more power," Naidu said during a conference in Gandhinagar. "I am so impressed by their presentation that I am thinking of some pilot projects with Infosys, just to showcase the ideas to other sections of the society," the minister said.

Latest Realty News

Building dept circulars must go online: HC
Nov 14, 2014
MUMBAI: The Bombay high court directed the BMC to be entirely transparent and place online all circulars issued by its building proposal department
Tenders to be floated soon to develop two smart cities: Government
Nov 14, 2014
MUMBAI: The Centre has identified two places — Dholera in Gujarat and Shendra-Bidkin in Maharashtra — for developing them as smart cities
Indiabulls AMC planning to raise Rs 1,000 crore via realty fund
Nov 14, 2014
MUMBAI: Indiabulls AMC Ltd is planning to raise a total of Rs 1,000 crore through a real estate fund
Land curb heat on Mamata - Babul fires reforms salvo
Nov 14, 2014
Calcutta: Central minister Babul Supriyo said the Bengal government’s failure to bring in reforms, such as scrapping land ceiling rules, was to blame for central funds drying up for urban development projects
Govt to relax exit option for FDI in real estate
Nov 14, 2014
New Delhi: In order to give a thrust to its ambitious plan of ‘homes for all by 2022’, the Government is planning to make exit easy for foreign investors
Puravankara Projects' arm to foray into Mumbai
Nov 14, 2014
MUMBAI: Provident Housing, the affordable housing arm of Bengaluru-based Puravankara Projects, plans to foray into bigger property markets including Mumbai, National Capital Region, Pune and Hyderabad
Official land rate touches Rs 20,000 per sq ft in Bengaluru
Nov 14, 2014
BENGALURU: Residential land prices in Bengaluru are set to go north with an increase in guidance value
Maharashtra govt to simplify deemed conveyance for housing societies
Nov 14, 2014
Mumbai: Maharashtra government will simplify the 'Deemed Conveyance' procedures for convenience of the co-operative housing societies in the state
Realty sector wants stimulus package
Nov 13, 2014
Tiruchirapalli:The Confederation of Real Estate Developers Association of India (CREDAI) has urged the government to come up with a stimulus package for rejuvenating the realty sector
Protest against smart city plan
Nov 13, 2014
Imphal: The Manipur government’s decision to acquire land at Haollenphai village — in Moreh town bordering Tamu of Myanmar — to set up International Township, a “smart city”, is facing stiff opposition from Thadou students

Latest Realty News Of State

Realty Talk's