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HomeBusinessJ&K Metro Rail projects in final stages of approval: Puri

J&K Metro Rail projects in final stages of approval: Puri

Jammu, Dec 27 (PTI) Housing and Urban Affairs Minister Hardeep Singh Puri said on Monday that proposals for metro rail projects in Jammu and Srinagar cities are in the final stages of approval from the Public Investment Board.

Addressing the Jammu and Kashmir Real Estate Summit here, Puri urged the Union Territory government to organize the summit every year on the lines of the World Economic Forum (WEF) being held in Davos, Switzerland.

The minister said that metro projects in Jammu and Kashmir will soon take shape.

“The metro projects are in the final stages of approval from the Public Investment Board (PIB),” he said.

Puri said the Center would consider the demand for extension of Metro projects to the proposed AIIMS hospital on the outskirts of Jammu.

He appreciated the Government of Jammu and Kashmir for implementing the Real Estate Regulatory Authority (RERA) Act and the Model Rent Act.

The Minister also praised the Union Territory Government for the implementation of Pradhan Mantri Awas Yojana (PMAY). Under this, construction of about 13,000 houses out of 80,000 units has been completed.

Puri said that real estate is the second largest employment generating sector in the country and it has a huge impact on the overall economy.

He advocated a single window system for approval of real estate projects for ease of doing business.

Addressing the investors in the conference, Union Minister Jitendra Singh said that investors have come here not to make profit but to develop a culture of business.

He said that the mindset of the way of doing business has to change.

Singh, Minister of State in the Prime Minister’s Office, dismissed the apprehension that unemployment would increase due to investment from outside in Jammu and Kashmir. In fact, this will increase employment and ensure development, he said.

Housing and Urban Development Secretary Durga Shanker Mishra also said that metro projects would soon start in the Union Territory.

He said that the Union Territory Government has agreed to create a separate department to facilitate investment.

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