J&K metro rail projects reach final stage of approval

03 Jan 2022 CW Team

Minister of Housing and Urban Affairs and Petroleum and Natural Gas Hardeep Singh Puri said that since real estate is the country's second-largest employer, it will create numerous job opportunities in Jammu and Kashmir.

Puri said that the Jammu and Srinagar metro rail projects proposals have reached the final stage for being approved by the PIB- Public Investment Board.

The Minister announced this during the ‘Real Estate Summit- 2021’ held in Jammu.

The Department of Housing & Urban Development Department, Government of Jammu and Kashmir organised the Real Estate Summit- 2021 in collaboration with the Ministry of Housing and Urban Affairs, Government of India.

He further mentioned that demand that is created for real estate construction in Jammu and Kashmir is not restricted to housing. It covers tourism, hospitality, and warehousing. In the course of time, the summit will further accelerate the process.

The Real Estate Regulatory Authority Act (RERA), as well as the Tenancy Act that has been implemented in Jammu and Kashmir, will help in conducting business activities easily.

Singh also mentioned that the investment proposals in Jammu and Kashmir can go up to Rs One lakh crore in the upcoming coming years. In terms of economic development across sectors, Jammu and Kashmir should be as good as the other Union Territory states in the country.

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