7-Member GoM constituted for boosting Real Estate Sector under GST regime

Members of the Group of Ministers

S.No.

Name

Designation and State

Role in the GoM

1

Nitin Patel

Deputy Chief Minister, Gujarat

Convener

2

Sudhir Mungantiwar

Finance Minister, Maharashtra

Member

3

Krishna Byre Gowda

Finance Minister, Karnataka

Member

4

Dr. T.M. Thomas Isaac

Finance Minister, Kerala

Member

5

Manpreet Singh Badal

Finance Minister, Punjab

Member

6

Rajesh Agarwal

Finance Minister, Uttar Pradesh

Member

7

Mauvin Godinho

Minister of Panchayat, Goa

Member

Indian Real Estate Sector

The Indian real estate sector has witnessed high growth in recent times with the rise in demand for office as well as residential spaces.

The Government has undertaken several initiatives to encourage the development in the sector. Some of these initiatives are:

• Smart Cities Mission: The Smart Cities mission, a project of Prime Minister Narendra Modi, was launched in June 2015 with the government releasing the guidelines and mission statement for the 100 Smart Cities project.
• Pradhan Mantri Awas Yojana (PMAY) Urban: The Mission will be implemented during 2015-2022 and will provide central assistance to Urban Local Bodies (ULBs). The Government is committed to provide “Housing for All” by the end of 2022. As on June 2018, a total of 7.60 lakh houses were completed and another 28 lakh were grounded.
• Pradhan Mantri Awaas Yojana- Gramin: Pradhan Mantri Awas Yojana (Gramin), under which a target of completing one crore new houses by March 31, 2019 was set, was launched in November 2016 from Agra.