2022-04-02 / Sage Realty
As part of its ambition to access the economic potential of all cities, big and small, through planned urbanization, Niti Aayog has advocated relaxing construction bye rules to encourage the availability of land and direct benefit transfer programs such as rental housing vouchers for economically poorer areas.
"As India moves from a predominantly rural to an urban culture, the focus must be on maximizing the economic potential of all cities, large and small, especially Tier 2 and 3 cities, to take up the mantle in the future." This necessitates proper city management, according to Aayog's paper, Cities as Engines of Growth, co-authored with the Asian Development Bank. According to the research, India now has the world's second-largest urban population, and by 2050, it is predicted to add another 416 million people to its cities, bringing the urban percentage of the population to 50%. In 2018, about 460 million people lived in Indian cities, up from 109 million in 1970. According to the research, cities in India play a critical role in fuelling the country's economic growth because they only account for 3% of the country's land area but contribute 60% of GDP, mostly through metropolitan cities such as Bengaluru, Delhi, Chennai, Mumbai, Kolkata, Hyderabad, and Pune.
The research recommends adopting a long-term economic vision (10–15 years), establishing a city economic council, and establishing a promotion and marketing budget for communities. "Create unique incentive programs to encourage investments in smaller and underdeveloped cities, as well as a city-level single window facility for service sector firms situated inside natural city boundaries such as commercial developments, educational hub, medical infrastructure & essential services" according to the paper. It has also advised that an integrated regional approach to planning be adopted, with the broader metropolitan region being delineated with robust infrastructure and the city and commuting regions being planned together. The report ascended to work on the development of a capital investment plan to identify economically self-sustaining and potential revenue-generating projects and schemes. To unify land records data, it has also recommended the digitization of land records systems and integrating the tax, registration, and survey functions at the state level.
"Examine alternate methods for acquiring land and assembly, as well as the loosening of construction bye-laws that may be limiting land supply," it stated. The research also recommends gradual in-situ up-grading of existing economically disadvantaged or low-income housing stock, as well as examining alternative options for providing rental accommodation near job hubs. "Develop direct benefit transfer systems, such as rental housing vouchers, and leverage current funds for disadvantaged populations in state and federal government programs," it continued. Keeping in mind the vision of NITI Aayog to utilize the economic potential of Tier-II cities like Bhopal, SAGE Realty has been the front runner in providing residential spaces near the most viable commercial opportunities. These architectures around the main resourceful centers allow residents to be engaged in economic activities. The SAGE Group also provides commercial spaces for the growth-oriented business environment. SAGE High street and SAGE Golden Springs are projects which have high commercial usage as well as mixed usage of residential and business dwellings. Whether it’s Flats, Bungalows, Villas, Duplex, Penthouse, Plots, or Shopping Complex, our mega projects provide you a variety of opportunities to invest in revamping the full potential of this city.
Mega Property Expo 2022 is organized for the golden opportunity to invest in real estate. Such Expo is vital to the investment prospectus for the small towns. Tier-II city like Bhopal has enormous economic potential and is well equipped with relevant infrastructure. The process of development can be accelerated if people participated in the property expo 2022 and invested in residential and commercial spaces. This not only promotes the business ecosystem for better economical activity but also enables the population to build their homes and livelihood at a faster pace. Our projects incessantly showcase the ethos of growth.
