PM Narendra Modi emphasised that RERA Act has helped in getting the entire housing sector out of mistrust, fraud and helped & empowered all stakeholders.

RERA has brought housing sector out of fraud and mistrust: PM Modi

Prime Minister Narendra Modi on Tuesday. said that the Real Estate Regulatory Authority (RERA) Act has helped overcome serious problems of the urban middle class as regards home buying.

Inaugurating the Azadi@75 – New Urban India: Transforming Urban Landscape conference-cum-expo in Lucknow, Modi emphasised that RERA Act has helped in getting the entire housing sector out of mistrust and fraud and helped and empowered all stakeholders.

Modi also said that urban bodies are also saving about ₹1,000 crore every year by installing LED street lights. Now this amount, he informed, is being used for other development works. He added that LED has also greatly reduced the electricity bill of the people living in the city.

He also digitally handed over keys of Pradhan Mantri Awas Yojana – Urban (PMAY-U) houses to 75,000 beneficiaries in 75 districts of Uttar Pradesh during the event.

In addition to this, Modi laid the foundation stone of 75 Urban Development Projects of Uttar Pradesh under Smart Cities Mission and AMRUT. This event also saw flagging off of 75 buses under FAME-II for seven cities including Lucknow, Kanpur, Varanasi, Prayagraj, Gorakhpur, Jhansi and Ghaziabad.

Stressing on the massive increase in the number of houses constructed under PM Awas Yojana as compared to previous numbers. Modi informed that more than 1.13 crore housing units have been constructed in the cities and, out of this, more than 50 lakh houses have already been built and handed over to the poor.

Taking a jibe at earlier governments for dragging their feet on implementing the schemes. Modi said that more than 18,000 houses were approved but not even 18 houses were constructed at that time. He said that now more than 9 lakh housing units were handed over to the urban poor and 14 lakh units are under various stages of construction.

Source: https://www.thehindubusinessline.com/news/real-estate/rera-has-brought-housing-sector-out-of-fraud-and-mistrust-pm-modi/article36842379.ece

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