Srinagar, Sept 25 : Lieutenant Governor Manoj Sinha today underlined the transformative potential of the ₹1 lakh crore Urban Challenge Fund, calling it a “game changer” for reshaping Indian cities into growth hubs.
Speaking at the Governing Council Meeting of the All India Forum of Real Estate Regulatory Authorities (AIFORERA) held in Srinagar, the LG said the ambitious initiative—focused on redeveloping 300 cities across India—will promote innovation, strengthen urban infrastructure, improve ease of living, and integrate sustainability into urban planning.
“The Whole-of-Government approach is essential to ensure accountability and timely delivery of projects. The transparency, accountability, and efficiency brought by the RERA Act 2016 must continue to protect homebuyers’ interests while ensuring a swift grievance redressal system,” he stressed.
The LG highlighted the rapid expansion of the real estate sector under the leadership of Prime Minister Narendra Modi, noting that it is emerging as a key contributor to Viksit Bharat. He urged real estate developers to prioritize affordable housing, equitable urban development, and fairness for aspiring homeowners.
“The sector must become more competitive and aligned, with uniform housing regulations across states and UTs. Growth must go hand-in-hand with inclusivity and sustainability,” Sinha said.
Calling for a greater role of private players, the LG pressed developers to pay special attention to the health, education, and welfare of workers and their families engaged in construction projects.
“The welfare of those who build our homes must remain a top priority,” he asserted, urging AIFORERA to work closely with developer groups like NAREDCO (National Real Estate Development Council) to safeguard workers’ rights.
He further emphasized real-time monitoring of housing projects, awareness campaigns for homebuyers, and greater use of technology for accountability.
On the occasion, the LG also 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); Ms. Mandeep Kaur, Commissioner Secretary, Housing and Urban Development Department; along with Chairpersons of various Real Estate Regulatory Authorities and senior officials.
