314

Housing For Urban Poor -- A Gargantuan Challenge

Urbanization is central to a country’s economy – and in India, the urbanization rate corresponds to 60% of the country’s GDP. For smoother transformation of a developing nation like India, the need of the hour is to manage the process of urbanization. The rapid pace of urbanization has given rise to many grave issues – one of them being housing shortage.
 
Urban land in India, constituting 3.1% of the country’s land area, presents a complex situation where high urban densities co-exist with sub-optimal utilization (India Habitat Report, 2016). The inward migration of massive chunks of population from rural areas and peri-urban areas to urban areas in search of livelihood and better living conditions is continually exacerbating the shortage of housing in our cities.

183

Delhi-NCR Leads APAC in H1 2017 Office Leasing Volumes

Delhi-NCR and Bengaluru ahead of Guangzhou, Manila and Melbourne

Although leasing activity declined by 13% year-on-year in Asia Pacific in Q2, volumes were down only 2% in the first half of the year, indicating stable leasing levels across the region. Cities like Seoul and Taipei saw sluggish tenant demand impacting leasing activity. Delhi-NCR has continued to be the regional leader for leasing volumes while Bengaluru also came ahead of other active regional markets, including Guangzhou, Manila and Melbourne

57

A ‘Crash’ Course on Building Collapses

Over the last few years, there have been continuous incidents of collapsing old constructions in India. As per data shared by the National Crime Record Bureau (NCRB), more than 14,000 people have died from 2010 to 2015 due to dilapidated building collapses. At an average, 2,700 people lose their lives in different structural breakdowns every year.
 
Across all the major cities in India, Mumbai has been witnessing the maximum cases of structural collapses. Between 2010 to 2015, there have been approximately 13,470 incidents of structural collapse in the country, and Mumbai alone accounted for 1,366 of these. This amounts to over 10% of the total incidents. The collapse of buildings, specifically old constructions, has been continuously increasing in recent years.

565

RERA: On Road to Reformed & Regulated Realty

As the three- month window given to states for notifying RERA (Real Estate Regulation & Development Act), especially in view of ongoing under-construction projects, expires in July, the stage is set for the transformation of the real estate and housing as a matured, professional, organised and transparent sector, much to the advantage of all the stakeholders.

 In a landmark move, the central government, in the form of RERA, gave the real estate sector its first regulator w.e.f from May 1, 2016. The Union Ministry of Housing & Urban Poverty Alleviation, however, gave time to states till May 1, 2017, to formulate & notify rules for the functioning of the regulator.