Navin Raheja supports P.M Modi’s ‘Housing for All’
Gurgaon has undergone a complete facelift in the last ten years. What used to be a land of rocky terrain and few villages has emerged to be one of the most development oriented cities in the countries. More than 70% of its development has taken place in the last decade. A city which was nothing more than a wasteland before 1979 now has the third highest per capita income, after Chandigarh and Mumbai. Gurgaon has been a city designed with a futuristic approach. This has been facilitated by the city getting flocked by MNCs and other major business giants. Much of this can be attributed to low land prices and creations of SEZs. Gurgaon has transformed into an IT hub with avant-garde nerve centers like Cyber City.
But the city has a lot more to offer than what it does as of now. The expediting urbanization has caused a paradigm shift. There has been a surge in the number of people migrating from rural dwellings to urban cities. As per statistics, about 1/3rd of Indian population will migrate to urban towns by 2020. Navin Raheja, President, National Real Estate Development Council (NAREDCO) believes that gurgaon being one of the most developed cities in Delhi NCR is bound to receive a huge influx of such migrations. And this would lead to an increase in demand for the affordable housings.
There has been a huge gap between the demand and supply for affordable housing projects. Navin Raheja, also the chairman of Raheja Developers, opines that this gap can be only bridged through Public Private Partnerships where the government devises a mechanism to cross subsidize the land and construction cost. He also suggests that retail loan interest rates be lowered for affordable housing projects along with construction funding at cheaper rates. Raheja Developers has already launched a few affordable housing projects in support of honorable P.M Modi’s campaign of ‘Housing for All’. A strong camaraderie between government, people and private players is needed to cater to this emerging need.
ABOUT RAHEJA DEVELOPERS
Raheja Developers was incorporated in the year 1990 by Mr. Navin M. Raheja, the first generation entrepreneur. Today, the company enjoys a strong presence in NCR and has made its position as one of the largest companies in the Real Estate Industry.