Expertspeak: Housing for all a game-changer

India is on the verge of large scale urbanisation. Around 31% of the population lives in urban areas and contributes over 60% to the GDP. It is projected that they will contribute nearly 75% to the national GDP in the next 15 years. Cities, therefore, are referred to as engines of economic growth. Ensuring that they function efficiently is critical. The real estate sector will play a crucial role in shaping the Indian economy. Here's a glimpse of trends which will dominate the sector:

Affordable homes: The 'Housing For All by 2022' initiative is a potential gamechanger. Economic recovery is expected to gain momentum, driving the demand for affordable houses.

Smart cities: The government's decision to develop 100 smart cities and rejuvenate another 500 cities is a bold step. Smart cities will see businesses migrating to new cities due to cheaper land, labour and property resulting in even distribution of population over a wider area.

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