SRINAGAR: Over two years after Article 370 revocation, 39 MoUs worth Rs 18,300 crore were signed at the first Real Estate Investors summit held on Monday in Jammu.
Organised by Union Ministry for Housing and Urban Affairs and the J&K government, it was attended by investors and builders from across India, besides Lt Governor Manoj Sinha and Union ministers Hardeep Singh Puri and Jitendra Singh.
Sinha said the investment would bring stability and provide employment to youth. The companies that signed MOUs include Signature Global, Samyak Group, Raunak Group, Hiranandani constructions, Raheja Developers, Goel Ganga, GHP Group, Shree Naman Group and Chalet Hotels Limited. Other big names include Tulip, Ajay Devgn’s Invoice Cinemas and NBCC.
Sinha said government land would be given to the investors, but they can also buy private land to set up housing colonies.
“We have already framed laws in this regard.”
On apprehensions by some parties that realty investment would undermine domicile law, Sinha said, “I think it is an attempt to raise the emotions of people. Real estate investment will not bring any demographic change.”
However, former CM Mehbooba Mufti tweeted, “GoI’s brazen loot & sale of our resources shows that the sole motive is to annihilate our identity & change the demography.”
Former CM Omar Abdullah tweeted, “People of Jammu should beware, ‘investors’ will buy up land in Jammu long before Kashmir.”