With equal population dispersal likely between urban and rural India by 2030, the Centre should address infrastructure issues effectively to avoid a collapse  Population spurt, coupled with rapid urbanisation is posing a threat to infrastructure facilities across Indian cities. Addressing the issue, Kumar Gera, national chairman of Confederation of Real Estate Developers’ Association of India (CREDAI) has urged the government to effectively address issues pertaining to infrastructure development. Currently, CREDAI has a strong membership base of 5,500 realtors from across the country. “Indian cities are expected to witness an average 60% population growth, while in some cities like Pune the growth may be as high as 100%. Besides, the country is likely to have equal population dispersal between urban and rural areas by 2030, with exceptions in five states where the urban population may exceed rural population,” adds the CREDAI chairman, while speaking to media recently in connection with the launch of its three new chapters in Madurai, Coimbatore and Tiruchi.
CREDAI president Santosh Rungta opines, “Infrastructure development is a must for organised urbanisation.” Delay in project approval is a major impediment to the evolving infrastructure industry, warns Mr Rungta while promising to extend support to Centre and state governments to tackle procedural issues related to infrastructure development.
PropEquity speaks
Speaking to a correspondent from Times Journal of Construction and Design (TJCD) over phone, Samir Jasuja, founder and CEO of PropEquity, a reputed New Delhi-based property advisory firm said, “CREDAI’s urge is very relevant.”
When asked to mention the key infrastructure areas that the government should currently address for organised urbanisation, Mr Jasuja promptly took note of public transport, road connectivity and power. If addressed properly, these will help to keep land prices viable and in turn reduce property prices, thereby facilitating end users, adds Mr Jasuja. The real estate and construction sector is likely to contribute around 15% to the country’s GDP by 2015 from the current 8-9%, opines the PropEquity CEO.
The Indian real estate sector has been witnessing a gradual upturn in prices and demand for properties, especially in the sub-Rs 30 lakh category.
Jeeta Bandopadhyay |
