The illustration below may seem
promotional in nature, but actually is a clear indicator as to where the real
state sector in India needs to focus. Real estate properties in India got used to big bucks and exponential
growth rates, this phenomena attracted quite a few non serious players who were
looking at quick returns. In turn this has led to unplanned construction in
large metropolises by developers looking at 300 to 400% growth on their
investments. This greed for higher growth, further led to unethical practises
laden with corruption. Real Estate sector in India is in the news these days
for all the wrong reasons, latest example being the cancellation of a township
project on Yamuna Expressway being developed by a top notch developer.
Let’s fall back to the illustration again, the government
is looking to construct 2 crore houses/dwellings by 2022. It has been able to
construct only 6.8 lakh dwellings which entails that there is a requirement to
construct 1.932 crore houses in the next 5 ½ years. Obviously, the government
cannot take on this mammoth task on its own; it is looking for the real estate
industry to participate. The catch words which need to be understood are
‘affordable housing’ and that the construction is to take place in smaller
towns.
If we dig a bit deeper and analyse,
the programmes which have been launched by the central government in the past 2
years are concentrated at building the last mile infrastructure i.e. down to
the villages. Connecting all villages through roads via the ‘Gram Sadak Yojna’;
Electrification of all villages by 2019 year through ‘Gram Jyoti Yojana’, the
latest statistics shows that out of 597,464 census villages, 586,888 villages
(98.2%) have been electrified; The synergising of waterways; ‘Rurban Mission’
aimed at improving infrastructure in rural and semi-rural areas; ‘Grameen
Kaushalya Yojana’ initiated to make 1 million youth job ready by 2017; The
Skill India and Smart City missions aimed at formalising skill development and
enhancing liveability of towns.
All these programmes are aimed at only
one thing and that is to spread earn-ability to the last mile; wherein the
youth does not have to move away/migrate from his home in search of a living;
thus reducing the load on metropolises. These initiatives are path breaking and
will take sometime to fructify on ground; but these are clear indicators of
things to come. The real estate sector in India needs to seize the opportunity
being provided, realign its focus from metropolises to smaller towns, where the
actual requirement or demand for real estate lies and participate in this
Nation building effort. So if you are looking to buy apartment visit Allindiayellowpage.com to get detail information.