--- title: "Which state conducted its first-of-its-kind Real Estate Summit?" description: "Which state conducted its first-of-its-kind Real Estate Summit?" author: "Lily Chitlangiya" published: 2022-02-21 canonical: https://answers.mindstick.com/qa/95965/which-state-conducted-its-first-of-its-kind-real-estate-summit category: "current affair" tags: ["current affair", "real estate summit"] reading_time: 2 minutes --- # Which state conducted its first-of-its-kind Real Estate Summit? Which state/UT conducted its first-of-its-kind [Real Estate](https://www.mindstick.com/articles/12773/real-estate-time-to-create-a-mobile-app) [Summit](https://yourviews.mindstick.com/view/85934/world-media-hails-india-s-successful-organization-of-g-20-summit)? \ ## Answers ### Answer by Stuti Gupta > **For the first time, the Jammu and Kashmir Real Estate Summit 2021 was hosted in the Union Territory. During the Summit, 39 real estate memorandums of understanding (MoUs) totaling Rs, 18,900 crores were inked.** \ The center and the **J&K government** convened the first-ever real estate conference in **[Jammu](https://answers.mindstick.com/qa/95961/which-country-has-conducted-a-nuclear-fusion-experiment-towards-creation-of-an-artificial-sun)** to urge individuals from around the nation to purchase property or a second house in **Jammu and Kashmir.** Outsiders – individuals who are not defined as 'legal residents' – were formerly forbidden from acquiring or holding land, but this was modified once the center **repealed Article 370** in August 2019, erasing **J&K's** unique status. Local demonstrators and provincial political groups have charged the epicenter of '**foreclosing on J&K**.' \ ![Which state conducted its first-of-its-kind Real Estate Summit?](https://answers.mindstick.com/questionanswer/2ca5a502-7b3e-4574-91a1-679ded6f91fe/images/9f756c62-37d9-4c40-a79a-51987da73be1.jpeg)\ \ The administration, calling it a 'historical revolution in **J&K**,' said it has modified regulations to allow for external investment in the **[state](https://answers.mindstick.com/qa/95960/which-country-recently-launched-the-inmarsat-6-f1-satellite)**, such as the acquisition of non-agricultural property. The J&K administration, led by **Lieutenant** **Governor Manoj Sinha**, amended land-use regulations last week, allowing agricultural land to be reclassified for non-agricultural purposes. Regional groups were outraged by the decision, claiming that the property will be used to accommodate non-locals. \ **Also Read: [Which Indian state stands first in the implementation of the Shyama Prasad Mukherji Rurban Mission (SPMRM)?](https://answers.mindstick.com/qa/95964/which-indian-state-stands-first-in-the-implementation-of-the-shyama-prasad-mukherji-rurban-mission-spmrm)** \ Following the abolition of special status, the center recently informed **Parliament** that just seven parcels of the property had been acquired in **[J&K](https://answers.mindstick.com/qa/95951/lalittana-is-a-monthly-literary-program-organised-in-which-country)**. Allowing individuals from outside J&K to acquire land in the UT was one of the BJP's and the center's key talking points, but that does not appear to be the case so far. Given J&K's huge unemployment, opposition parties have pushed the government to prioritize job creation above investment. --- Original Source: https://answers.mindstick.com/qa/95965/which-state-conducted-its-first-of-its-kind-real-estate-summit Copyright © MindStick Software Pvt. Ltd. This Markdown version is provided for developers, AI systems, and offline reading.