J&K government signs investment agreements of Rs 19,000 crore with real estate investors


Jammu/New Delhi: The Jammu and Kashmir government on Monday opened 39 Memorandum of Understanding (MoU) with investment proposals of about Rs 19,000 crore with investors investing in the real estate sector, opening the way for real estate investors of the country to invest in the Union Territory. Gave. These agreements are for the development of housing, hotel and commercial projects.

Jammu and Kashmir Lieutenant Governor Manoj Sinha termed the signing of MoUs at the Real Estate Summit as “historic” and said it is an important step towards bringing about a change in the Union Territory.

In the press conference during the summit, he said that the government has already implemented the real estate law here. [रियल एस्टेट (विनियमन और विकास) अधिनियम, 2016] And the Model Rent Act has been implemented.

Sinha said that the government will give exemption in stamp duty on registration of land, house and shop like other states and will set up a single clearance system for speedy implementation of projects.

“We signed 39 MoUs today. We have received investment proposals worth Rs 18,300 crore.

Industry body NAREDCO said several companies including Hiranandani Group, Signature Global, NBCC and Raheja Developers have signed MoUs with investment proposals of Rs 18,900 crore.

Other real estate companies Samyak Group, Raunak Group, Goyal Ganga, GHP Group and Shree Naman Group signed preliminary agreements for housing projects. At the same time, Chalet Hotels signed a MoU for the hotel project.

The Industries and Commerce Department signed an agreement with the Haldiram Group for setting up a unit in Jammu and Kashmir.

The conference was organized by the Government of Jammu and Kashmir, the Union Ministry of Housing and Urban Affairs and the National Real Estate Development Council (NAREDCO), an association of real estate companies.

Sinha said that these agreements will help in employment generation in Jammu and Kashmir. He announced that a similar real estate conference would be held in Srinagar on May 21-22 next year.

Asked about allegations of opposition parties grabbing land of local people in the name of development, Sinha said it was an attempt to create fear and instigate people. He said that there will be no change in population due to this.

Earlier, while addressing the conference, Sinha had said that some people do not want the people of Jammu and Kashmir to get the benefits of facilities and development like other states.

He said that efforts are being made to mislead the people and this is also one of the reasons behind unemployment and lack of development.

Sinha said that there is no dearth of talent and potential in Jammu and Kashmir and the day is not far when the Union Territory will be at par with other states.

However, regional party leaders criticized the move as a threat to the region’s demographics.

Former Jammu and Kashmir chief ministers Omar Abdullah and Mehbooba Mufti on Monday hit out at the administration for opening up the union territory to real estate investors, alleging it was being done to change the demographics of the region.

Abdullah wrote on Twitter, ‘Once again the real intention of the government has come to the fore. Keeping the land, jobs, domicile law and identity of the people of Ladakh safe, Jammu and Kashmir is being put up for sale. People of Jammu should be careful. ‘Investors’ will buy land in Jammu long before Kashmir.’

At the same time, Mehbooba Mufti alleged that the special status of Jammu and Kashmir was illegally revoked in order to dehumanize and weaken India’s only Muslim-majority state.

Mehbooba tweeted, “The special status of Jammu and Kashmir was illegally revoked to dehumanize, isolate and weaken India’s only Muslim majority state. The open loot of the Indian government and the sale of our resources shows that its sole purpose is to destroy our identity and change the demography.

Earlier, on December 22, the government had said in Parliament that Jammu and Kashmir has received investment proposals worth Rs 31,000 crore and a new central sector scheme worth Rs 28,400 crore has been notified, which is expected to provide employment to over 4.5 lakh people. Chances are.

Minister of State for Home Nityanand Rai gave this information to the Rajya Sabha in a written reply to a question.

He had said that during his visit to Jammu and Kashmir in October, Union Home Minister Amit Shah met several delegations, families of martyrs, members of civil society (civil societies) and Panchayati Raj Institutions and the general public, besides meeting about 4,500 youth clubs. Interacted with 50,000 members.

Rai had said that the government has notified a new Central Sector Scheme for Industrial Development of the Union Territory of Jammu and Kashmir with an outlay of Rs 28,400 crore. This is expected to boost the industrial development of Jammu and Kashmir as well as provide employment to more than 4.5 lakh people.

He said that the government has received investment proposals of about Rs 31,000 crore.

He said that the Jammu and Kashmir government has approved a business revival package of Rs 1,352.99 crore on September 25, 2020.

Rai said that under the Lagging Projects Programme, a total of 1,192 projects worth Rs 1,983.77 crore have been completed, out of which five projects were incomplete for more than 20 years, while 15 projects were incomplete for more than 15 years.

(with input from news agency language)

Categories: India

Tagged as: Employment, Hiranandani Group, Jammu and Kashmir, manoj sinha, Mehbooba Mufti, MoUs, National Conference, NBCC and Raheja Developers, News, Omar Abdullah, Peoples Democratic Party, Real Estate Summit, Real Sstate Sector, Signature Global, The Wire Hindi, Union Territory


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