Srinagar, Feb 10: The J&K government on Thursday said that the National Real Estate Development Council (NAREDCO) will train 10,000 workers in various skills of construction industry including electric wiring, plumbing, masonry and carpentry as part of real estate development in the union territory.
The proposed training is part of the MoUs signed between the UT government and various real estate giants during the maiden J&K Real Estate Summit (J&KRES), 2021 in December last year for the development of real estate sector as well as establishment of housing and commercial projects.
During the summit, MoUs were exchanged between NARDECO National and NARDECO J&K chapter, NARDECO LEAD, NARDECO & NARDECO & J&K Housing and Urban Development Department, JK Industries and Commerce Department and Hadrian and JK Housing Board & Central Government Employees Welfare Housing Organization.
A J&K government spokesman said that as part of the the MoU, the NARDECO will train 10000 workers in various skills of construction industry – like electrical, plumbing, masonry, carpentry “and other similar skills”.
During the summit, a total of 39 agreements worth Rs 18, 300 crores with real estate developers for construction of housing and commercial projects in J&K were signed.
Several captions of Indian Inc from residential, retail, commercial space, entertainment industry, tourism & hospitality, logistics & warehousing and financial institutions attended the summit.
The summit witnessed the signing of 20 MoUs for development of housing projects, 7 others for commercial, 4 for hospitality, 3 for Infra-tech, 3 for films and entertainment and 2 for finance related projects. Some of the major real estate companies like Signature Global, Samyak Group, Raunak Group, Hiranandani Constructions for housing projects. Chalet Hotels limited signed and MoU for hospitality, Raheja Developers, Goel Ganga, GHP Group and Shree Naman Group signed for housing projects during the summit.
During the summit, Minister of Housing and Urban Affairs, GoI, Hardeep Singh Puri remarked that real estate “being the second largest employer in the country, with the multiplier effect will create innumerable opportunities in J&K in terms of employment and investments”. He also launched ‘Auction of Assets Portal’ Affordable Rental Housing Complexes Scheme at Sunjwan, Jammu, J&K RERA Portal, Housing schemes and J&K Housing Mission Portal during the summit.
Lieutenant Governor, Manoj Sinha called the occasion as “historic” adding it was a “major step towards the transformation of the entire Jammu and Kashmir”. The LG highlighted that with first ever Real Estate Summit, J&K “will have a multiplier effect in terms of investment, employment, GDP etc”.