Srinagar, 25 September , 2025 : Lieutenant Governor of Jammu and Kashmir, Shri Manoj Sinha, addressed the Governing Council Meeting of the All India Forum of Real Estate Regulatory Authorities (AIFORERA) in Srinagar, highlighting the transformative potential of the Rs 1 lakh crore Urban Challenge Fund.
“The Urban Challenge Fund will be a game changer in transforming our cities and developing them as growth hubs,” the Lt Governor said, noting that the initiative to redevelop 300 cities across India through collaboration between states/UTs and private players will promote innovation, robust infrastructure, sustainability, and ease of living.
Calling for a ‘Whole of the Government’ approach, the Lt Governor emphasised accountability in timely project delivery, stressing that the RERA Act 2016 has brought transparency, accountability, and efficiency to the real estate sector. He said that swift grievance redressal mechanisms are vital to protect homebuyers’ interests and ensure equitable growth.
Speaking on the intricacies, challenges, and opportunities of the sector, the Lt Governor urged private players and developers to focus on affordable housing while ensuring fairness, transparency, and competitiveness in the industry.
“Under the leadership of Hon’ble Prime Minister Shri Narendra Modi, the real estate sector is emerging as a major contributor to the vision of Viksit Bharat. The sector must advance with equitable development and urban transformation at its core,” he added.
The Lt Governor also underscored the importance of the welfare of workers and their families, stressing that developers must ensure access to health, education, and basic rights for those engaged in housing projects. He called on AIFORERA to work closely with NAREDCO (National Real Estate Development Council) and ensure real-time monitoring of projects along with awareness campaigns for homebuyers.
On the occasion, the Lt Governor released the Journal and Annual Report 2024-25 of AIFORERA.
The event was attended by Shri Anand Kumar, Chairman, AIFORERA; Shri Satish Chandra, Chairman, J&K Real Estate Regulatory Authority (JKRERA); Ms Mandeep Kaur, Commissioner Secretary, Housing and Urban Development Department, along with chairpersons of various Real Estate Regulatory Authorities and senior officials.
