Real estate sector and urban planning will be one of the most important areas as India moves towards Amrit Kaal and becomes a developed country by 2047: Mr Manoj Joshi, Secretary, Ministry of Housing and Urban Affairs

Real estate sector in India is expected to expand from Rs. 20,000 crores today to Rs. 65,000 crores by 2050: Mr Anand Kumar, Chairman, Delhi RERA

Job generation will be an important focus of the real estate sector and urban planning going forward, Mr Manoj Joshi, Secretary, Ministry of Housing and Urban Affairs, said at CII Annual Conclave on Indian Real Estate. The conclave focused on key themes of Resilient, Adaptable and Affordable real estate.

“The real estate sector and urban planning will be one of the most important areas as India moves towards Amrit Kaal and becomes a developed country by 2047,” said Mr Joshi.

Stating that more than half of India’s population will live in cities by 2047, Mr Joshi said that a lot would depend on what type of cities were created, how organized they were and how many jobs they create.

Praising CII for the having resilience and adaptability as an important theme of the conference, Mr Joshi spoke about the immense scope for industry-government collaboration in water treatment and in overcoming the resistance to residential usage of treated-water in urban areas. On the theme of affordability, the honorable Secretary argued for greater technology adoption as a means to affordable housing for all.

While addressing the conclave, Mr Anand Kumar, Chairman, Delhi RERA, said the size of the Indian real estate sector was expected to expand from Rs 20,000 crore today to Rs 65,000 crore by 2050. Today, the sector is second in terms of importance in employment generation and its role in nation building is second to none.

Speaking on urban planning, Mr Kumar argued for greater focus on understanding the carrying capacity of the city, town and district being developed. The planning on various aspects like amount of water availability, setting up of pipelines, getting environmental clearances, all needs to be done in advance with synergies being built across departments. This well-timed planning can help save precious resources and avoid encroachments.

Talking about sustainability, Delhi RERA Chairman spoke on how recycling of water, use of renewable energy, and adoption of latest technology can help augment existing resources, improve quality of roads, and bring down cost of construction, energy & transmission in urban areas.

A CII-CBRE report on India Real Estate: Resilient, Adaptable and Affordable Report was launched at the event. The report focused on a blend of primary and  secondary research and examines the current state and the future of real estate sector in India from a multi-dimensional perspective.

Mr Kumar added another theme and dimension to the conclave - that of Reliability. While praising the introduction of RERA, he called on CII to create greater real estate awareness among consumers and provided a vision where industry and government work holistically & synergistically to make Indian Real Estate the leading sector in the world.  

While setting the context for the conclave, Mr Anshuman Magazine, Chairman, CII Northern Region, and Chairman & CEO – India, South-East Asia, Middle East & Africa at CBRE, stressed on how the India real estate sector has seen a tremendous post Covid resurgence be it residential, office or co working spaces, and even the new and upcoming data centers.

Mr Mohit Malhotra, Co-Chairman, CII National Committee on Real Estate and Housing and Managing Director, Godrej Properties Ltd, stressed on how government reforms like RERA, GST, and IBC have brought transparency and made the real estate sector much more organized.

Mr Sriram Khattar, Member CII National Committee on Real Estate and Housing and Managing Director, Rental Business, DLF, spoke about the resilience the Indian real estate sector has shown amidst the disruptions caused by the pandemic and the war in Ukraine.

14 October 2022

New Delhi