Monday, 17 August 2015

Government Policies to create jobs in property sector

The initiatives like Atal Mission for Rejuvenation and Urban Transformation (AMRUT), the smart cities mission and housing for All, aimed at improving the construction sector with a vision of providing housing solutions for everybody has brought in realistic possibilities of creating more than 30 lakh jobs the experts feel, the decision to build 100 smart cities is an extremely important one that will create immense possibilities for core sectors related to the sector like infrastructure, manufacturing, logistics etc.

Increased investment in sectors like transport, sanitation, power supply and housing project could see creation of more than 30 lakh jobs in the future which augurs well for the economy.

Prime Minister Narendra Modi while launching the three schemes remarked that urbanisation should be looked as an opportunity and developed urban centres as growth engines, he added that in the next five years, 500 cities will be developed under AMRUT scheme, 100 smart cities and in the next seven years over two crore houses will be developed under Housing for All scheme.

However, as it happens with every scheme there are challenges and roadblocks with these schemes too which needs to be addressed before implanting the schemes because if they are implemented in a unplanned manner it will result in massive energy and water consumption and growing carbon emissions. Other major challenges would be an increase in proper and planned transport demands, further depletion of already scarce water resources and disaster management, also the infrastructure, sanitation, healthcare facilities, sewerage and crime detection and prevention must be planned beforehand across cities.
However, this initiative of building urban infrastructure could lead to a massive economic growth; proper execution of these schemes would mean large scale consumption of iron, steel, cement, plastics, electrical equipment and services. It will also mean that new innovations and ideas in creating projects with world class technologies will come to the fore that will make India a global player in developing world class future cities. Also the cities under all three schemes will be able to provide their inhabitants, the highest standard of living in a safe, clean and healthy environment. Managing Director and CEO of Siemens said that “Smart cities are a result of intelligently addressing and integrating four core pillars for sustainable urban transformation: integrated and multimodal mobility, reliable power, secure and smart buildings and clean environment, technology holds the answer to many urban challenges as it can help make better use of existing infrastructure”.

Industry experts are naturally elated and optimistic about the vision, and they sincerely hope that these kinds of initiatives which up until now was happening successfully across some centres would now be ramped up on a national level through proper planning and dedicated teams working out innovative solutions like providing interest subvention up to 6.5% to the EWS (economically weaker sections)  for affordable housing, also the industry believes that with the creation of these jobs, they will be able to hire trained talent across various verticals which will ensure that they will be able to develop  projects having international standard quality using innovation and new spin-off technologies.

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