The provisions of the urban plan will stimulate the real estate sector and help transform cities into modern, sustainable and well-planned urban hubs. (Representative image)
With a renewed focus on sustainable urban planning, a positive impact on real estate is expected along with more organized and eco-friendly developments, experts say
With the central government last week announcing a financial stimulus of Rs 15,000 crore for states and Union Territories (UTs) for proper planning and management of urban areas in the current financial year 2023-24, experts say it will play a vital role in transforming urban development and provide a substantial boost to the country’s real estate sector.
The real estate experts said that one of the key provisions in the ‘Regulation for Special Assistance to States for Capital Investments’ is the promotion of hiring urban planners.
Anshuman Sharma, President of Navraj Group, said: “The financial stimulus provided by the Center for States and UUTs marks a turning point in India’s real estate industry. With a renewed focus on sustainable urban planning, we expect a positive impact on the real estate landscape, paving the way for more organized and environmentally friendly developments, which are the need of the hour.”
The real estate industry players stated that the lack of qualified urban planners is a significant issue in today’s urban development landscape and said that nearly half of states and most cities are missing these essential professionals, with smaller towns being disproportionately affected.
Sanjeev Arora, director of 360 Realtors, said: “We welcome the government’s move to encourage the hiring of urban planners. This investment in expert talent will undoubtedly lead to more thoughtful and efficient urban developments, benefiting both the environment and citizens while fulfilling sustainable residential and commercial development goals.”
He added that this will set the roadmap for more sustainable and holistic development, which is an urgent need in the current times.
Rajesh K Saraf, general manager of Axiom Landbase, said: “The focus of the financial incentives for states, among others, is also on hiring urban planners. It will boost the real estate sector and help transform cities into modern, sustainable and well-planned urban hubs. We are excited about the positive changes these incentives will bring to the Indian urban landscape.”
According to the guidelines, cities with different population groups must adhere to specific criteria in order to achieve effective urban planning. For cities with a population of more than 40 lakh, a minimum of five urban planners are required. In comparison, those with a population between 10 and 40 lakh must have at least three town planners. Similarly, cities with a population of between five and 10 lakh must have at least two urban planners, while the cities with a population of less than 5 lakh must have at least one urban planner.
Shantanu Gambhir, MD and co-founder of RISE Infra, said: “The population-based planning guidelines introduced by the center are a step in the right direction. This approach ensures that cities have the expertise to address their unique development challenges. We believe that tailoring urban planning to specific demographics will enable cities to better respond to the needs of their residents, creating vibrant and inclusive communities.”
Nayan Raheja of Raheja Developers stated that overcrowded infrastructures, inadequate public facilities, traffic congestion and environmental degradation are some of the pressing issues arising from the lack of proper planning. In the long run, it will boost the real sector in the country.”
