Real estate sector will soon settle into a new normal: Union Housing Minister Puri


The Minister of Housing and Urban Affairs Hardeep Singh Puri always has comforting words for the real estate sector.  On Tuesday, post release of  a commemorative stamp on the occasion of the 25 years of Indian Builders Congress (IBC), Puri said that the real estate sector might be finding the going bumpy but will soon settle at a new normal, with all stakeholders working towards that end.


He said that the real estate sector kept evolving amid the progress of economic reforms and the resultant economic growth, but had run into hurdles due to inadequate self-regulation and lack of regulatory mechanism. This had necessitated the Real Estate Act that was made a reality by this government last year, some eight years after it was first proposed.


Noting that the IBC aims at improving the built environment, Puri said that the living environment of workers at construction sites is equally important.  He expressed concern over the conditions of living large number of construction workers were experiencing. He urged the builders to ensure dignified living for them by ensuring necessary basic facilities.


He reminded the 5,100 members of the IBC that it was their responsibility to ensure decent living conditions with facilities for cooking, bathing and toilets for workers at construction sites under Clause 19 H of General Contract Conditions and Contract Labour (Regulation) Act. The Minister said this was not being generally complied with and that is not acceptable.


The Minister said that construction workers carry out yeoman service for the economic growth of the country and deserve to be treated with dignity.

Written by The Realty Paper

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