CREDAI Lists Nagpur among 45, can drive Demand for Affordable Homes
CREDAI Lists Nagpur among 45 potential cities that are projected to drive the demand for affordable housing. The report “Dawn of India’s Future Cities”— was released at a two-day national seminar organized by CREDAI in Nagpur. Confederation of Real Estate Developers’ Association of India (CREDAI) released a report.
The other main cities included in the list of 45 are Lucknow, Jaipur, Kochi, Bhopal, and Ahmedabad, said a press release issued by the organization. The seminar which began on Thursday will also focus on opportunities in the Tier 2 and 3 cities of the country.
Driven by investments in infrastructure, affordable housing, skilled work forces, these cities can potentially see accelerated growth in the manufacturing, tourism and warehousing sectors, and emerge as India’s new mega cities, said the release.
The study based 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 identified areas of opportunities for developers while reiterating the impact of regulatory changes on the sector, the release further said.
According to the study, India needed new cities to augment its growth. 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.
Union Surface Transport Minister also addressed the meet through video conferencing. CREDAI’s national president said, “India’s demographic capabilities bring a huge opportunity to match the world’s economic superpowers. This opportunity also brings with it challenges such as developing new urban centres.”
Nagpur summit will help builders gauge the opportunities in smaller centres. The Tier I cities are already overcrowded. There is a clear need for new cities to be developed as the growth engines of the country, said CREDAI’s chairman.
Source Link- https://timesofindia.indiatimes.com/city/nagpur/nagpur-can-drive-demand-for-affordable-homes/articleshow/61584776.cms