Report on India’s future cities launched
NAGPUR: Prominent international real estate consultants JLL India recently released a report titled ‘The Dawn of India’s Future Cities’ in association with The Confederation of Real Estate Developers Association of India (CREDAI) at the New India Summit, Nagpur.
The report highlights the potential of Tier II, III & IV cities of India, stresses need for new urban centers.
The report highlights the need for new urban centers in the country, and shortlists 45 potential mega-cities such as Nagpur, Lucknow, Jaipur, Kochi and Bhopal, among others.
The study bases its findings on key parameters such as socio-economic momentum, enhanced connectivity infrastructure and high value indicators.
With a sharp-focus on real estate, it identifies areas of opportunities for developers while reiterating the impact of regulatory changes on the sector.
‘The Dawn of India’s Future Cities’ emphasizes that India needs new cities to augment its growth and leverage its promising demographics.
Initiatives such as ‘100 Smart Cities’ and the Urban Rejuvenation Scheme – AMRUT will provide emerging cities with a blueprint for becoming the next flagbearers of development in India.
India’s urban population currently accounts for 33.5% of the total population and contributes over 60% of India’s GDP which is projected to increase to 75% by 2030.
This rapid pace of urbanization underscores the need for discovering alternate channels to leverage India’s workforce and increase efficiency, thereby improving the standard of living of its citizens.
It also makes a strong case for cities like Nagpur, Lucknow, Jaipur, Kochi, Ahmedabad, Varanasi, Bhopal and others.
Driven by investments in infrastructure and skilled workforces, these cities can potentially see accelerated growth in the manufacturing, industrial, tourism and warehousing sectors, and emerge as India’s new mega cities.
Ramesh Nair, CEO &Country Head, JLL India says, “The real estate and infrastructure sector will become a key agent of change by rendering the next wave of Indian megacities future ready. This sector is strengthening the country’s infrastructure backbone and helping in providing more physical space for its citizens to become happier and simultaneously more efficient economic agents.”
CREDAI President Mr. Jaxay Shah says, “India’s demographic capabilities and potential bring with them a huge opportunity to match the world’s largest economic superpowers. There is undoubted potential in India’s Tier II, III & IV cities, and it is imperative that we leverage this opportunity to the maximum. ”