Re­port on In­dia’s fu­ture cities launched

Hindustan Times (Chandigarh) - Estates - - FRONT PAGE - HT Cor­re­spon­dent n ht­es­tates@hin­dus­tan­times.com

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 ”

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