What is NIS?
To delve deeper into the problems at hand and come up with practical solutions, CREDAI holds summits on a regular basis. New India Summit 2018 where 1000 plus developers are expected to participate is being organized for that reason. The theme for this summit is Emerging Cities, India’s Future.
The housing sector’s importance can be gauged by the fact that the government has launched a ‘Housing For All by 2022’ programme to enable creation of over two crore affordable houses. This segment has immense potential in the tier II and III cities as land prices are affordable and land is abundant.
Challenges in Cities
Today’s cities face significant challenges such as increasing population, lack of physical and social infrastructure, environmental and regulatory requirements, declining tax base and budgets, and increased cost. They have to learn to identify new and smart ways to manage the complexity of urban living and address problems ranging from pollution, overcrowding, inadequate housing, high unemployment, resource management and rising crime rates.
Longstanding urban challenges include housing especially for low-income population, infrastructure inadequacies and the constant struggle to deliver a variety of services including water, sanitation, education, and health. With a view to modernising India and accelerate the process of urbanisation, the Prime Minister of India has envisioned the creation of 100 ‘smart cities.’ The core idea is to develop satellite towns of larger cities and modernise existing mid-sized cities.
The real estate sector in India is currently undergoing a paradigm shift. Revolutionary regulatory changes have left an indelible mark on the sector for years to come. Developers with years of experience have also been on the path of constant learning. Those who have evolved have achieved greater success both commercially as well as in terms of recognition. Those who followed this model from the outset are now the undisputed leaders in the segment. Now, only the honest and serious players are surviving. A major change worth mentioning is how developers have started to offer lower ticket sized houses/compact units.
Why NIS 2018?
India with its rapid growth and evolving urbanisation trends needs new cities. With the urban sprawl increasing and overburdening the infrastructure in large cities, creation of new urban centers is of critical importance. De cluttering the metros and creating new economic engines of growth is already underway through various central and state government initiatives. Upgrading the infrastructure in tier II/III/IV cities will enable them to attract economic/industrial activity to a great extent. Many of these cities are already taking measures to identify themselves as the flag bearers in terms of investments and development.