In a country with a growing population and an economy that promises growth, an increase in demand for real estate becomes inevitable. As the real estate industry grows along with the ever-increasing demand, it is important to establish platforms to disseminate knowledge, promote innovation and research, foster collaboration, and nurture future think tanks to make this growth sustainable. The Centre of excellence in Urban and Real Estate Development (CURED) is an initiative by Adani Institute of Infrastructure Management (AIIM) which aims at establishing the same.
At the initiation stage, CURED will provide a knowledge dissemination platform for Indian real estate market. The focus on Indian geography is primarily due to the immense possibilities that are expected to materialize in the near future. Some of the reasons attributed to the growth of real estate in India are described in the following paragraphs.
With the growth of the service economy, the urban pockets of India are swelling up with migrants. According to the 2001 census, 27.81% of India’s total population resided in urban areas. The figures went up to 31.16% in 2011 census and by 2025, the share of the urban population in India is expected to be 46%. Keeping pace with the hasty growth in urban population, the need for real estate and urban development becomes inexorable.
Facilitating urban growth by sheer numbers and quality construction has become an idea of a bygone era. The challenge is to deliver smart sustainable solutions through technological interventions. In order to enable sustainable urban growth, the government of India launched its Smart City Mission in 2015. The idea is to develop 100 urban ecosystems by implementing the state of the art technological know-how to develop a comprehensive infrastructure which can accommodate future growth. This initiative by the government has opened up a floodgate of opportunities for real estate and urban development sector. To facilitate the growth in real estate, the government of India has also made changes at the policy level. Approving 100% foreign direct investment in the real estate sector is one such move.
At the crossroads of growing requirements, policy support, increasing investment, and the compulsion for sustainable habitats; India requires a collaborative effort from the industry experts and academic think tanks.
Having the support of the fastest growing conglomerate in India with a vast experience in global infrastructure, CURED envisions itself as a state of the art knowledge podium with an ensemble of industry experts and academicians from premier national institutes. With an insatiable appetite for excellence, CURED foresees itself as an Indian thought leader in real estate and urban development with a global outreach.