CPSEs' land likely to be used for affordable housing

New Delhi: The Centre is toying with the idea of acquiring the surplus land of Central Public Sector Enterprises (CPSEs) in a bid to create townships and dwelling units under the Prime Minister`s affordable housing scheme, Ministry of Housing and Urban Affairs Secretary Durga Shankar Mishra said on Monday.

The government aims to provide shelter for economically weaker sections under the affordable housing scheme by 2022.

"The Centre, in necessary consultation with the states and Union territories, is also trying to persuade them to acquire the available land of public sector enterprises so that affordable houses are created across the country for the common man," Mishra said here while addressing the 14th national convention on `Indian Real Estate - Unfolding the New Era of Growth` organised by the National Real Estate Development Council (NAREDCO).

"Serious efforts and consultations are on in this direction and it is hoped that the anticipated results would follow so that affordable housing scheme takes off as desired," he added.

The government is also trying to bring in the most advanced construction technologies from across the world so that construction of houses, particularly for the weaker sections of society and other similar segments, is completed quickly, Mishra said.

He also assured the real estate developers that, after March 31, 2018, they would face no inconvenience in getting construction plans approved by central and state authorities as an online approval system was being created.

Minister of State for Finance Arjun Ram Meghwal, who was also present at the convention, said that the issues faced by the construction and real estate sectors under Goods and Services Tax would be soon addressed.

State Bank of India Managing Director Rajnish Kumar said that liquidity would not be problem for legitimate and viable projects. 

Kumar said that the government would soon lease out land to developers for construction of affordable housing which would considerably reduce the cost.

NAREDCO Chairman Rajeev Talwar urged the government to remove loopholes in the real estate and construction segments to push growth.