Conference on “New Dawn of Investment and Real Estate Sector Development in Jammu & Kashmir” organized by Ministry of Housing & Urban Affairs, Government of India and Government of J&K & Supported by NAREDCO
A historical transformation is underway in Jammu & Kashmir. With the unveiling of several progressive laws, economic and industrial reforms, the Government has paved the way for accelerated economic growth and all-round development of the region. The objective of the government is not only to propel growth and create employment but also to ensure sustainable development.
There are several infrastructure projects underway which shall change the face of Jammu & Kashmir. Some of these projects are Udhampur Srinagar-Baramulla Rail Link project, NH-44 Jammu – Srinagar expansion, Delhi–Amritsar–Katra Expressway, Twin Medi-cities, Institute of Management Science, All India Institute of Medical Science (AIIMS), Logistics parks, Ports, Smart Cities and IT Parks.
A new Industrial Development Scheme of Rs 28,400 crores has been unveiled for attracting investment in UT, besides creating opportunities for the youth. Sectors like handicrafts, food processing, horticulture, tourism, education, skill development, sports, culture, and the entertainment industry are growing at a rapid pace. Jammu and Kashmir has become promising yet untapped destination for investors.
The government is also paving way for urban & real estate revolution in Jammu & Kashmir. Under the newly introduced J&K Development Act, the term “being a permanent resident of the State” as criteria has been “omitted”, paving the way for investors outside J&K to invest in the UT. As a result, any citizen of India can buy Non-Agriculture Land in Jammu & Kashmir.
- Increasing urbanisation, economic activities, and upper mobility: As per Govt estimates, the projected indigenous
- housing demand in UT of J&K is 2.5 Lakh dwelling units, out of which 30% is in urban areas.
- Expanding Demand for Second Homes / Summer homes in Jammu & Kashmir
- Large potential in the Tourism/hospitality segment.
- Huge Demand in Commercial, Retail and Warehousing driving real estate growth.
This is the new Jammu & Kashmir determined to reverse the trend of the past seven decades by pushing the targets for economic growth and employment.
In this regard, the Housing and Urban Development Department, Government of Jammu & Kashmir is keen to promote building in J&K and develop the real estate sector in the UT. The government has assured all possible support including a progressive business regulatory environment.
Towards this objective, the Ministry of Housing and Urban Affairs, the Government of India, and the Government of Jammu & Kashmir, in association with NAREDCO, are organising the first major Real Estate Investors Summit 2021 in Jammu. The Summit is scheduled on 27th December 2021, providing an effective platform to showcase potential Real Estate Investment Opportunities and intensive discussion on the policy & regulatory framework.
Shri Hardeep Singh Puri, Hon’ble Minister, Ministry of Housing and Urban Affairs, Government of India, Shri Manoj Sinha, Hon’ble Lieutenant Governor of Jammu and Kashmir, Shri Durga Shanker Mishra, Secretary, MoHUA, Chief Secretary J&K etc. would be the eminent guests. The event would be participated by who’s who of Real Estate, senior bureaucrats of J&K & all other senior officials dealing with the sector. The experts & other major stakeholders would be participating from all over the country in this first of its kind event in this Real Estate sector in the UT of J&K.
We, at NAREDCO, look forward to your participation and contribution to this one-of-its-kind initiative for real estate development in Jammu & Kashmir and being part of the region’s growth engine.