“Indian realty sectoris gearing up through urbanization; will witness 600million people residing in urban spaces by 2030”, said Mr. Hardeep Singh Puri, Hon’ble Minister of State for Housing and Urban Affairs, Civil Aviation (I/C) and Commerce & Industry, Government of India at CII – CBRE REALTY 2019
CII-CBRE Report ‘Real Estate – A Relook’ was launched at the XV edition of the conference. The report identifies Smart Cities, Co-working, Affordable Housing and Logistics & Warehousing askey disrupters of Real Estate
New Delhi, August 28, 2019: CII in association with its knowledge partner CBRE, today released a joint report ‘Real Estate – A Relook’ at the XV edition of its flagship conference on Real Estate – CII CBRE REALTY 2019.
Addressing the real estate fraternity at the conference, Mr. Hardeep Singh Puri, Hon’ble Minister of State for Housing and Urban Affairs, Civil Aviation (I/C) and Commerce & Industry, Government of Indiasaid, “Introduction of RERA has led to a truly revolutionary phase in the history of real estate. With the transparency, reforms and regulation that these new policies have brought to the sector, now is the time to enter into the new technology-driven approach; building green and eco-friendly homes.”
The CII-CBRE knowledge paper ‘Real Estate – A Relook’ was unveiled by Mr. Hardeep Singh Puri, Hon’ble Minister of State for Housing and Urban Affairs, Civil Aviation (I/C) and Commerce & Industry, Government of India in the presence of Mr. Anshuman Magazine, Chairman – CII Realty 2019 & Co-Chair, CII National Committee on Housing & Real Estate and Chairman & CEO – India, Southeast Asia, Middle East & Africa, CBRE along with Mr. Anil Saraf, Co-Chairman, CII Realty 2019 & CMD, ASF Group.
The report encapsulates how real estate, that witnessed decades of traditional approaches, is now going to be revolutionized by ‘disrupters’ that have initiated a new wind of demand in the sector, the role of policy reforms in giving it the much-needed regulatory push and the need for building future-ready talent to establish India on the map for world-class developments.
‘Real Estate – A Relook’ is a compendium of the key drivers which are shaping the Indian real estate and are instrumental in crafting the future of the sector. It enables a dialogue between all the stakeholders of the industry to revisit the plans, potential and approaches that will cumulatively shape new-age infrastructure.
The report also details the evolution ofsmart cities, co-working spaces, affordable housing, logistics and warehousing and sets context for the future. It further assesses the role of dedicated policy and regulatory reforms like RERA, REITs, Ease of Doing Business, Housing for All in enabling the much-needed transparency across the realty value chain. The role of innovative technologies along with emergence of PropTech in transforming the Indian Realty sector and the need for building ‘future-ready’ talent are also key attributes emphasized that will pave the way for the sector.
While releasing the CBRE-CII report, Mr Anshuman Magazine, Chairman – CII Realty 2019 & Co-Chair, CII National Committee on Housing & Real Estate and Chairman & CEO – India, Southeast Asia, Middle East & Africa, CBRE said, “In the wake of positive policy reforms, emergence of a strong workforce, introduction of new technologies and growth of newer asset classes, the momentum of India’s realty sector is growing substantially. The theme of this year’s conference ‘Real Estate – A Relook’ reviews the emerging factors that will build the future of real estate sector. India has one of a kind growth story; real estate as the country’s growth propeller and we at CBRE are committed to be at the centre of this growth trajectory. The CII CBRE report ‘Real Estate – A Relook’ unveils a sectoral overview and outlines factors that will redefine real estate soon.”
Co-Chairman, CII Realty 2018 and Chairman & Managing Director, ASF Group, Mr. Anil Saraf said, “CII Realty is an interactive platform designed for its fraternity to discuss the emerging industry trends and assess global practices that are influencing the sector. The policy reforms that the government have introduced has ushered in burgeoning new sectoral opportunities, adding greater transparency to the ecosystem. Weare witnessing a significant business shift from traditional housing to the emerging trends like co-working office spaces and start-ups. Today, large occupiers want a technology driven office strategy thus, encouraging the players to focus on the way technology is required to become part our industry. Additionally, in order to reboot the housing segment, we need right sizing and right pricing approach.”
Mr. Sunil Kant Munjal, Past President, CII &Chairman, Hero Enterprise said, “It is the right time for introspection and making the necessary changes to the dynamics of the real estate sector. There is a need to demonstrate that we deliver more than we promise, and this will require a concentrated effort from all the players in the system. The sector demands a paradigm shift which is possible only through technology that will act as a game changer and help realty to revive opening new opportunities for growth in India. Additionally, we need to recognize the emerging trends across smart cities, co-working spaces, affordable housing etc. We need to believe that this is the best opportunity for the sector to make a shift to customer-centric industry. “
In addition to Mr. Hardeep Singh Puri, Hon’ble Minister of State for Housing and Urban Affairs, Civil Aviation (I/C) and Commerce & Industry, Government of India (), the key attendees at the conference includedDr Mr Sunil Kant Munjal, Past President, CII and Chairman, Hero Enterprise; Mr Sanjaya Gupta, Managing Director, PNB Housing Finance Ltd.,Mr. Sriram Khattar, MD, DLF;Mr Rahul Kapoor, Director – Smart Cities Ministry of Housing & Urban Affairs, Government of India; Dr K K Khandelwal, Chairman, Haryana Real Estate Regulatory Authority among others.
Here are the key trends listed in the report “Real Estate – A Relook”:
Real Estate Disrupters: What’s Hot & What’s Not?
Smart cities
Co-working
Affordable housing
Logistics and warehousing
Reinventing Real Estate through Policy Reforms
Building the ‘Tech-Way’ and the advent of PropTech in India
One of the prime sectors that will witness a revolution due to digitalization is the realty sector
Building ‘Future Ready’ Talent
Corporate Comm India (CCI Newswire)
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