Real Estate to gain momentum from infrastructural boost
It is India India everywhere and, it is Modi Modi everywhere. The Modi wave which began last year washed through the general election season this year and has continued its dominance ever since and has started to reach even outside the nation. During the recent visit made by Chinese President Xi Jinping and Modi’s visit to Japan, India received much needed news that would help the nation to meet its target of development.
China has agreed India an amount of $ 20 billion over the next 5 years for investment in infrastructure and manufacturing sectors. Among the 12 agreements made by the two countries the highlights have been work for the setup of 2 industrial parks, cooperation for railways and setup of sister cities. On the other hand, Japan has promised an amount of $ 33.6 billion to be invested in public and private sectors and financing including foreign aid to India in five years for projects such as infrastructure and clean energy.
With such plans in action now, real estate sector; which is considered to be one of the greatest contributors of nation’s GDP is set to reach heights. For a region to be successful in real estate, it is vital that infrastructure is sound. With better roadways, railways, waterways, connectivity, civic amenities, public transportation, etc. it becomes easier for the region to catch higher demand and footfall. Higher demand gets converted into sales only when the region is developed. The current government’s plan of creating 100 smart cities will yet again gain momentum from this plan as infrastructure is the key for any region to grow.
Vikrant Singh, President, Agrante Realty believes, “There is a direct relation between infrastructure and real estate. Better the infrastructure better will be the demand for real estate in a specific region and vice – versa. Real estate sector in India is currently witnessing a transformation with respect to investment type, shift in class, monetary growth and increasing global exposure which provokes the present day customer to have a change in taste. With more and more customers getting interested in luxury segment of real estate, the demand for infrastructure is bound to go north. With this boost for infrastructure in pipeline now, the demand for real estate will increase manifolds.”
Chaman Panwar, MD, The Visava Group says, “We are in the initial phase of globalisation where countries are joining hands for mutual growth and support. Getting financial support for infrastructure in India is the need of hour as we are still developing. Real estate sector has an even greater scope to perform with so many private companies eagerly coming out with residential and commercial projects. The success of these projects and the sector largely depends upon the given infrastructure, which is now sure to get better with time and the promised investment.”
M. K. Gupta, Chairman, KPDK Buildtech states that, “With billions of dollars ready to be invested, developing real estate regions will get the maximum mileage from it. Looking at the macro level, the nation will gain a lot through FDI, employment generation, rising development, enhancement of people’s lifestyles and most importantly; a better global standing.”
There could not be a better time for generating FDI in India with current government’s plan to develop 100 smart cities and bring about a revolution in India’s infrastructure. S. J. Singh, CMD, Urbainia Spaces says, “ Development of smart cities will depend entirely upon the provided infrastructure; which will get a massive push from these global tie- ups. China and Japan are two superpowers of Asia and gaining assistance will help the nation grow even better.”
With so much ready to be offered to the nation, every sector and industry will gain momentum and this will go on to help the development in near future. Real estate being one of the prime contributors to Indian GDP will achieve a lot that will help to shape this sector even better.
Hrishi Kumar
Hrishi is a young management graduate with experience in the field of branding and marketing.Currently, he is the manager at Integrated Centre for Consultancy Pvt. Ltd (ICCPL)
The views expressed in this article are author´s own
