Union Minister Piyush Goyal recently emphasized the urgent need for the real estate sector to adopt environmentally friendly construction techniques. Speaking at the 25th foundation day of the Confederation of Real Estate Developers’ Associations of India (CREDAI), he proposed the establishment of a dedicated team to study the adverse effects of construction activities on air quality in 20 major cities across India.
Key Takeaways
- Piyush Goyal urges CREDAI to form a team to assess construction’s impact on air quality.
- Adoption of steel and precast fabrication techniques is recommended to reduce pollution.
- Emphasis on developing affordable rental housing to combat urban slum proliferation.
- Call for greater formalization in the real estate sector, including digital payments and employee benefits.
Goyal highlighted that construction activities significantly contribute to air pollution, particularly in metropolitan areas. He stated, "I had asked CREDAI to consider setting up a team to study whether, at least in the metropolitan cities or the 20 top towns of the country, we can see the impact of construction leading to pollution, leading to air quality deteriorating."
He advocated for the use of advanced construction methods, such as steel and precast fabrication, which not only mitigate pollution but also enhance construction speed. Goyal expressed confidence that these changes could lead to a significant reduction in Air Quality Index (AQI) levels.
The Need for Affordable Housing
In addition to addressing air quality, Goyal urged real estate developers to focus on creating affordable rental housing projects. He noted that such initiatives are crucial in preventing the growth of slums in urban areas.
- Key Points on Affordable Housing:
- Government support for affordable rental housing schemes.
- Aim to rehabilitate slum dwellers with proper housing.
- Collaboration between the government and developers to tackle urban housing issues.
Goyal stated, "I do think that if rental housing also were to be made available, we would be able to stop any further slums proliferating, particularly in the cities. These are areas where together we can do wonders."
Expanding Horizons for Developers
The minister also encouraged CREDAI members to explore opportunities beyond Indian borders. He suggested that the real estate sector should consider international markets to enhance service exports.
- Opportunities for Developers:
- Explore overseas markets for real estate development.
- Increase service exports in the real estate sector.
Formalization of the Real Estate Sector
Goyal emphasized the importance of formalizing the real estate sector, advocating for practices such as digital payments and employee enrollment in social security schemes. He stated, "It’s time we looked at greater formalisation of the real estate sector such as digital payments and enrolling employees under EPFO."
- Benefits of Formalization:
- Enhanced recognition for employment generation.
- Improved working conditions and benefits for employees.
Conclusion
Piyush Goyal’s address at CREDAI’s foundation day serves as a pivotal moment for the real estate sector in India. By adopting environmentally friendly construction practices, focusing on affordable housing, and formalizing operations, the industry can significantly contribute to improving air quality and enhancing urban living conditions. The call to action is clear: the time for change is now.