Half of India’s population to urbanize by 2030, predict experts from Imperia Structures
India is home to the world’s largest rural population. But things are going to change, according to the reviews of Imperia Structures. Experts from the well-known realtor predict that around half of India’s population would be living in urban areas by 2030.
Urbanization is an integral part of the development of any country and cannot be neglected at any cost. India’s rural population is set to decline with each passing year. The speed of urbanization may be slow in India, but it is only going to rise with affordable housing policies implemented by the government. The experts of Imperia Structures believe that the impact of affordable housing will be visible by 2018. With urban population set to increase, there is a need of decongesting the big cities.
The state governments need to engage with the Central government to facilitate smooth functioning of the cities, while decongesting them. At this point, it is also important for the private sector to partner with the local government for building smart cities. It is believed that urbanization is going to present huge economic opportunities for the players of every sector.
There is also a need of an independent regulator to clean up the system in sectors, such as real estate, reviewed the experts of Imperia Structures. The privatization of distribution companies must also be supported for greater efficiency. The fixation of power tariffs, based on market demand, would lower production costs and make manufacturing competitive.
The private sector is facing a lot of challenges while operating projects in PPP mode. There are certain issues like land acquisition, structuring of PPPs, dispute resolution, trust deficit and many more. However, amidst all the issues, the Real Estate Regulation Act (RERA) is expected to reduce the demand and supply gap in infrastructure. Real estate companies can also play a major role in reducing this gap by using new technology in congested cities for better living.
With 50 per cent of India’s population set to live in urban areas by 2030, all the processes need to be streamlined to avoid any complications. At this important time, real estate companies like Imperia Structures need to manage the demands, and help the local government in successful implementation of policies without any obstructions.