J&K govt signs 39 MoUs with real estate developers, MoHUA, NAREDCO

30 Dec 2021 CW Team

From the total 39 MoUs, 19 of them were signed in the residential sector, eight in the commercial sector, four in hospitality, three in infrastructure, three in film and entertainment and two in finance.

The Lieutenant Governor of J&K, Manoj Sinha, expects that it is likely to receive nearly Rs 60,000 crore investments in the real estate sector in future.

He further said that many infrastructure projects of nearly Rs 1 lakh crore are at different stages of implementation in J&K. With the help from the Centre, the Union Territory (UT) will be able to launch metro projects.

The portal for Real Estate Regulatory Authority (RERA) was also launched in the presence of the Minister of State, Dr Jitendra Singh and the Minister of Housing and Urban Affairs, Hardeep Singh.

President of NAREDCO India, Rajan Bandelkar, said that the MoUs would help in providing new development opportunities in the regions that will have huge potential for real estate, including residential, commercial, warehousing, logistics, hospitality, retail and healthcare.

The J&K government has signed a tripartite agreement with NAREDCO and the National Urban Livelihood Mission (NULM) under the Ministry of Housing to train and certify 10,000 construction workers in two years.

The agreement is an on-site skill development program and training curriculum for the urban poor implementation under the employment through skill training and placements (ESTP). It will provide the workers with the necessary industry skills to ensure quality construction, enhanced employability, higher salary and a better standard of living.

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Also read: Jammu and Kashmir to get Rs 11,721 cr for road infra

The Jammu and Kashmir government has signed 39 MoUs with the real estate developers, the Ministry of Housing and Urban Affairs (MoHUA), along with the National Real Estate Development Council (NAREDCO) at the Jammu Convention Centre. From the total 39 MoUs, 19 of them were signed in the residential sector, eight in the commercial sector, four in hospitality, three in infrastructure, three in film and entertainment and two in finance. The Lieutenant Governor of J&K, Manoj Sinha, expects that it is likely to receive nearly Rs 60,000 crore investments in the real estate sector in future. He further said that many infrastructure projects of nearly Rs 1 lakh crore are at different stages of implementation in J&K. With the help from the Centre, the Union Territory (UT) will be able to launch metro projects. The portal for Real Estate Regulatory Authority (RERA) was also launched in the presence of the Minister of State, Dr Jitendra Singh and the Minister of Housing and Urban Affairs, Hardeep Singh. President of NAREDCO India, Rajan Bandelkar, said that the MoUs would help in providing new development opportunities in the regions that will have huge potential for real estate, including residential, commercial, warehousing, logistics, hospitality, retail and healthcare. The J&K government has signed a tripartite agreement with NAREDCO and the National Urban Livelihood Mission (NULM) under the Ministry of Housing to train and certify 10,000 construction workers in two years. The agreement is an on-site skill development program and training curriculum for the urban poor implementation under the employment through skill training and placements (ESTP). It will provide the workers with the necessary industry skills to ensure quality construction, enhanced employability, higher salary and a better standard of living. Image Source Also read: Jammu and Kashmir to get Rs 11,721 cr for road infra

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