Finance
The Housing & Urban (H&UD) Department organized a sectoral session on Real Estate and Urban Infrastructure on Day four of the ‘Make in Odisha Conclave 2022,’ one of India’s largest investment summits, with the theme of “Building next-gen Real Estate” in the presence of investors and H&UD Department officials.
The “Odisha Housing for All Policy for Urban Areas, 2022” was launched during the inaugural session, followed by an inaugural address by Usha Devi, Minister of Housing & Urban Development, Government of Odisha. The session also saw the release of a white paper titled ‘Emerging Hotspots of Odisha Towards Inclusive Growth,’ which highlighted the pro-industry features envisaged in various government policies and reformative initiatives to encourage investment in the real estate sector in urban Odisha and to foster inclusive growth.
Speaking about the abundant opportunities in the state, Odisha’s Minister of Housing and Urban Development stated, “Today we are witnessing radical changes in this sector, thanks to the progressive and proactive policy reforms introduced by H & UD Department such as Uniform Building and Planning Standards Rules, Housing for All Policy, CAF Rule, and so on for the entire state.” E-governance services such as “SUJOG” and “House Allotment System,” among others, have been successfully implemented as part of the State Government’s “ease of doing business” and 5T interventions to ensure enhanced citizen satisfaction.”
While delivering the keynote address, G Mathi Vathanan, Principal Secretary, emphasized the Department’s efforts to introduce favorable policy frameworks for the promotion of Affordable Housing in the State. He stated that under the PPP model of Affordable Housing, the ‘Developers’ Area’ for commercial development has been increased from 35% to 60%, the highest in the country. To ensure accuracy and to make the allotment system hassle-free, EWS and LIG houses are allotted end-to-end through a robust online ‘House Allotment System.’
“Through policy and practice dynamism, we always amended our policies from time to time to encourage real estate partners.” We offer the highest FAR in the country at 7%. We intend to collaborate in progress with all of the developers for real estate and urban infrastructure across the state’ he added further.
He also said the HUD Department is focused on universal growth for all 115 ULBs in the State. Odisha is the only state to implement 24*7 #DrinkFromTap service.
“We want our cities to be destinations of the future. With improved civic services and transparency in service delivery, Odisha is scripting new milestones in Urban Governance in the country. When we call Mo Sarkar, it means Your Sarkar. The philosophy of our CM in Odisha model of Governance is to ensure happiness through services and welfare” concluded Principal Secy, HUDD.
Balwant Singh, Vice Chairman of the Bhubaneswar Development Authority (BDA), stated in his welcome address that the city is smart-modern while also culturally rich. Our policies and plans are all-inclusive. In our efforts and initiatives, we prioritize children, women, people with disabilities, beggars, the homeless, and other marginalized communities. In our efforts, we are focusing on urban infrastructure with a social commitment.
Among those who spoke were Balwant Singh, VC BDA, Vijay Amruta Kulange, Commissioner, Bhubaneswar Municipal Corporation (BMC), A Shankar, Head – Strategic Consulting & Valuation Advisory, West Asia, JLL, and Vipul Roongta, Member, FICCI National Committee on Real Estate and Managing Director and CEO, HDFC Capital Advisors.
The opening session was followed by a panel discussion on Real Estate and Urban Infrastructure: Unlocking Opportunities in Odisha, moderated by G Mathi Vathanan, Principal Secretary, H&UD Department, and co-moderated by Sagarika Pattnaik, MD, Odisha State Housing Board.
The distinguished panelists from the domains of Real Estate, Finance, and Policy Formulation deliberated on current challenges in the real-estate sector and how Odisha can be a preferred destination for Real Estate Investments. Many real estate leaders also shared their perspectives on the prospects of urban Odisha real estate. Principal Secretary Mathi Vathanan stated that cities such as Bhubaneswar, Cuttack, Puri, and others in Odisha have enormous potential that needs to be explored by the private sector.
22 potential investors declared a total investment intent of 58502.55cr. as they signed an MoU with the government on this occasion for future investments.
The five-day event will conclude on Sunday, December 4 with a massive cultural event and the opening of the Conclave to the public.
Source:OCN
