NEW DELHI: A slew of mega assignments worth more than Rs 4 lakh crore for developing smart cities and towns and offering housing for all in the subsequent 7 many years besides proposed amendments in real estate policies marked 2015 for the urban advancement sector.
The federal government authorized different amendments to the contentious Real Estate (Regulation and Advancement) Invoice, 2015, introducing provisions for depositing 70 for every cent of the undertaking cost by builders into an escrow account and punishment for violations of the proposed law.
The amendments are aimed at protecting the desire of the purchasers and promoting investments in the sector whilst guaranteeing transparency. Another key reform introduced was allocation of central help to states and Union Territories based mostly on whole urban populace and number of statutory city local bodies besides variety of urban inadequate and slum dwellers in every single condition.
Allotment of the bungalow of late President A P J Abdul Kalam at 10 Rajaji Marg to Tourism and Society Minister Mahesh Sharma, even so, designed a controversy with the Aam Aadmi Party seriously criticising the go. The get together experienced demanded that the bungalow, in which Kalam was being after his phrase as President ended in 2007, be converted into a knowledge centre.
City Improvement and Housing & City Poverty Alleviation Minister M Venkaiah Naidu defended the go declaring the allocation was created as for every “rules and processes” and the government experienced presently determined to established up a memorial in memory of Kalam in his native location of Rameswaram in Tamil Nadu.
Prime Minister Narendra Modi launched Atal Mission for Rejuvenation and Urban Transformation (AMRUT), Sensible Town Mission and Prime Minister’s Awas Yojana (PMAY) on June 25 with a contact to encourage ‘bottom up’ preparing in the place, environment off a new commencing in city regions, which are being seemed at crucial drivers of large fee economic development.
Even though 500 towns will be developed below AMRUT plan, there will be one hundred intelligent metropolitan areas over 5 many years and housing- for-all plan under PMAY aims at development of two crore properties in urban areas in the next 7 many years. “The calendar year 2015 is really considerable in the sense that we have set urban planning in the country on a new course. Consequent to the provisions below AMRUT, Sensible Metropolis Mission and Housing Mission, there is a new churning ensuing in a new conscience on the component of urban nearby bodies, which are the Achilles tendon for successful arranging and execution,” Naidu instructed PTI even though summing up the new initiatives.
Introduction of competition for selection of metropolitan areas below Smart Towns Mission is a very first of its kind in the nation for allocation of resources. Citizen consultation for planning and prioritisation of assignments at metropolis amount has been created required underneath the new city initiatives introduced this year.