Affordable housing is need of the hour: Venkaiah Naidu

Hyderabad: Hyderabad is the most happening city which is well connected within the city and other cities nationally and internationally, said M Venkaiah Naidu, former Vice President of India, stressing on the growing need for affordable homes. He was speaking after inaugurating apex real estate body NAREDCO's Silver Jubilee 25th Foundation Day conference in the city on Saturday.

On the occasion, he urged the real estate builders and infrastructure developers to prioritise creating happy, healthy, and affordable housing while retaining superb architectural elements for the satisfaction and sustainability of the housing sector. He also appealed them to ensure the provision of adequate air, sunlight, and water availability in all housing projects.

The former Vice President emphasised, “Only such residential projects would enable residents to live in the housing units without any grievances and spend their time happily. The real estate and construction sectors are so crucial for the country's growth that they must be built upon a foundation of happy, affordable, and healthy housing.”

He stressed that without meeting these fundamental housing needs, the expansion and development of the real estate and infrastructure sectors will not achieve their intended purpose. The home buyers shall not regret their investments, provided they are offered housing equipped with modern facilities and essential healthy elements such as pure air, sunlight, and water.

Naidu further advised the real estate sector to take the necessary time to meticulously plan the projects, warning against encroachments during the nation's project-building endeavors. He highlighted that tampering with nature during such projects could lead to disastrous consequences, considering the serious threats that the current natural climate poses to mankind both in India and around the world.

Vemula Prashanth Reddy, Minister of Roads, Building and Legislative Affairs & Housing, Government of Telangana, highlighted that Hyderabad is the safest and most potential city. He encouraged the property buyers to not only invest in real estate sector of the city but across Telangana as the State government is providing quality power, better infrastructure and law & order.

He assured that the State government would provide all necessary clearances for such projects within 21 days under the TS-bPASS. He applauded the efforts of Chief Minister K Chandrashekar Rao in improving the infrastructure but stressed that much more needs to be done to fully unlock the State's potential in the real estate sector.

Rajan Bandelkar, President of NAREDCO, extended a warm welcome to the delegates attending the silver jubilee celebrations. He expressed confidence that the contribution of the real estate and infrastructure sector to the national GDP would significantly increase in the next few years, surpassing the current seven per cent, owing to its potential.

He also expressed hope that government policies, including those of the central government, would proactively support the growth of the real estate and infrastructure sectors. He assured the audience that NAREDCO would wholeheartedly support the government's drive for affordable housing and other developments in the retail and commercial real estate sectors.

NAREDCO's Vice Chairman Niranjan Hiranandani said, “The real estate and construction sectors play a critical role in fostering the country's growth and reducing unemployment. All stakeholders, including government, private, and public sectors, must work together to achieve the target of zero unemployment and foster exponential growth in the real estate and housing sectors.”