SRINAGAR, Sept 25: Lieutenant Governor Manoj Sinha on Wednesday underscored the transformative potential of the Rs 1 lakh crore Urban Challenge Fund, calling it a “game changer” for redeveloping 300 cities across India into growth hubs. Speaking at the Governing Council Meeting of the All India Forum of Real Estate Regulatory Authorities (AIFORERA) in Srinagar, the LG highlighted the initiative’s focus on innovation, robust infrastructure, enhanced ease of living, and sustainable urban planning.
He emphasised the need for a “Whole of Government” approach to ensure timely project delivery, transparency, and accountability in the real estate sector. “The RERA Act 2016 has brought in transparency and efficiency to protect homebuyers’ interests. Swift grievance redressal is essential to make this sector more regulated and efficient,” he said.
LG Sinha also urged private developers to support affordable housing initiatives and promote equitable urban transformation, aligning with Prime Minister Narendra Modi’s vision of a Viksit Bharat. He further called for uniformity in housing regulations across states and union territories to foster a competitive and fair real estate ecosystem.
Highlighting worker welfare, the LG stressed attention to the health, education, and rights of families involved in housing projects. He urged collaboration between AIFORERA and developer groups like NAREDCO to ensure workers’ basic rights are protected.
The Lieutenant Governor also advocated real-time monitoring of development projects and awareness campaigns for homebuyers. On the occasion, he released the AIFORERA Journal and Annual Report 2024-25.
The event was attended by Anand Kumar, Chairman of AIFORERA; Satish Chandra, Chairman of J&K Real Estate Regulatory Authority (JKRERA); Mandeep Kaur, Commissioner Secretary, Housing and Urban Development Department; along with chairpersons of various Real Estate Regulatory Authorities and senior officials.