Wednesday, December 29, 2010

Developers focusing on towns located near metro cities for real estate development

Real estate developers and urban planners are now turning their attention towards the towns located on the outskirts of metros and bigger cities in a bid to develop satellite towns. This is because the metro cities are already over populated. However the lack of proper connectivity faced by these towns is a big hurdle which is a major concern for the real estate sector that is currently on a fast track. As such to popularize new townships in the peripheral regions proper connectivity is a paramount priority.

Kumari Selja, Minister, Housing & Urban Poverty Alleviation while expressing her views in this regard had during the Economic Times Realty Convention 2010 said that most of the major towns and cities located along the highways that connect different cities have expanded. She cited the examples of regions like Delhi-Jaipur, Delhi-Meerut and Mumbai-Ahmedabad etc. She further added that with the major city acting as a hub there is possibility to develop industrial hubs and small settlements along these corridors into small and medium size satellite townships. She however admitted that appropriate urban planning is required to realize this possibility and for this the transport system has to be streamlined. Region specific transport policies have to be planned and linked with the government initiatives targeted at the overall transport system. Even Jaipal Reddy, Union Minister, Ministry of Urban Development, expressed similar views.

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