REALESTATE

The average life-span of a project built on quality construction parameters is about 80 years. This is why people look for quality construction when buying a home.

Vacant homes across our cities are causing a big stir now - and for good reason. In a country which has not been able to meet the housing needs of the largest part of its population, a massive number of flats standing empty comes across an aberration.

Developers are wondering why end-users are not buying their projects even after offering numerous discounts and schemes. The latter, on the other hand, are playing the wait-and-watch game, expecting prices to go down given the continued slump in sales.

Infrastructure is the key to growth for real estate - and the cornerstone of infrastructure is roads. The importance of roads to human being is vouchsafed by how long they have been around.

illegal constructions continue to cripple roads, public spaces and other amenities. Successful urban planning in India will only have a future when it is complemented by efforts to educate the masses about its importance.

As per the plan, under the Smart Cities Scheme, 100 cities will be developed, with each getting an annual central funding of Rs.100 crore each over the next five years. Under AMRUT, 500 cities and towns would be rejuvenated over next 10 years.

By 2025 India will need to add the equivalent of a city the size of Chicago to its existing floor space to support the growth in population. This requires a great deal of agility and fine-tuning – green districts need to be small enough to innovate quickly but big enough to have an impact.

Mumbai has got another wake-up call to relook at its exorbitant real estate prices. With average prime district office rentals falling by 4% in 1Q15, Mumbai has performed better than only two cities in a global Jones Lang LaSalle survey.

The objective of the scheme is to make 2 crore homes available in India's urban areas. What is essential to achieve this is a fast-tracked approval process, financial empowerment of the low-income categories to enable them to purchase a house in such areas - and unlocking land for creating affordable housing.

Yes, it is possible to negotiate with residential property developers. As home sales continue to look sluggish in many parts of the country, developers are becoming more open to a bit of creativity on their stated terms. How can you, as a buyer, put your best foot forward at the negotiation table? Above everything else, the Scout's Motto holds true - Be Prepared.

The workshop will also have an exhibition depicting housing designs appropriate to different geo-climatic zones of the country besides affordable and alternative technology that can be used for construction of durable houses.

Nariman Point once a premier business location will remain an important business district