Making housing affordable to various income groups is the biggest challenge, said Minister for Housing and Urban Development R. Vaithilingam here on Friday.
The Minister was addressing members of Confederation of Real Estate Developers’ Association of India (CREDAI) at the inaugural of a two-day State conference, ‘Statecon 2015.’
He said that housing and urban infrastructure development was a top priority of the State Government.
Mr. Vaithilingam said that of the total projects worth Rs. 15 lakh crore planned in ‘Vision Tamil Nadu 2023,’ Rs. 2.75 lakh had been earmarked for urban infrastructure improvement.
This included Rs. 75,000 crore for housing. He said that there was a need for an innovative approach for cost reduction so that houses became affordable to a cross section of society.
Referring to the suggestions made by the State and national representatives of CREDAI, the Minister said that the government was ready to implement whatever possible.
He said that the government was working towards making rules common for building approval across the State.
Earlier, the Minister released a reports on ‘Emerging Hotspots in Tamil Nadu’ and another on suggestions regarding the Global Investors Meet planned in September.
These reports were prepared respectively by real estate research organisations JLL and CBRE.
Housing and Urban Development Secretary, Dharmendra Pratap Yadav, said that private participation was necessary in slum development, and making houses affordable for the middle and lower income groups.
He said that the government was ready to hold talks with builders to make houses available at a lesser price.
The Minister for Municipal Administration and Rural Development, S.P. Velumani; national president of CREDAI Getamber Anand; and Coimbatore Mayor P. Rajkumar; too spoke.
The first State conference of CREDAI with the theme ‘Decisive actions for real estate growth in Tamil Nadu’ is aimed at strengthening brand Tamil Nadu as an investment destination.
VISION 2023
Chennai city development
— Rs. 50,000 crore
Rest of Tamil Nadu — Rs. 50,000 crore
Development of 10 cities — Rs. 1 lakh crore
