NBCC likely to take up RERA-approved housing projects in J-K: Official

Jammu, Feb 13 (PTI) The chairperson of the Real Estate Regulatory Authority in Jammu and Kashmir, Satish Chandra, on Friday said the National Buildings Construction Corporation is likely to undertake RERA-approved housing and real estate projects in the Union territory.

Speaking at a panel discussion on RERA reforms in the housing sector at the National Urban and Real Estate Development Conclave-2026 in Delhi, Chandra said the Real Estate Regulatory Authority (RERA) in J-K is in talks with multiple government agencies to facilitate approvals for several real estate projects in the Jammu and Srinagar regions, for which suitable land parcels are being identified.

"The National Buildings Construction Corporation (NBCC) is most likely to undertake housing and real estate projects in Jammu and Kashmir,” he said.

The NBCC is planning to participate in the construction of housing projects on government land once the modalities are finalised, which is a “significant beginning” for the organised real estate sector in the Union territory, Chandra said.

He also said that Jammu and Kashmir has ambitious targets to develop its real estate sector and that consultations are underway with the stakeholders, including developers and prospective homebuyers.

There is adequate demand and purchasing capacity, but supply constraints have limited growth so far, which RERA aims to address, Chandra said.

He added that RERA has been allotted office space in both Srinagar and Jammu to streamline approvals.

"Currently, five projects are registered with the authority, and growing enthusiasm is being witnessed among the developers to undertake projects under the RERA framework,” the official said. PTI AB AB ARI ARI