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Scrutiny
  
Real estate boom
SRZs can meet housing problems
15/05/2008

America’s realty sectors bubble may have burst, but there is no scarcity of funds in India’s booming real estate market. The institutional investors are flocking in, by pumping money, to leverage the boom that the sector is experiencing. From Morgan Stanley and Blackstone to UAE based Khaleez Finance and Investment, Amsterdam’s Plaza Centers, and Israel’s Alony Hetz and more are likely to invest $5 billion in next three years, according to a report by FICCI, and Ernst & Young.

With the urban population of India likely to grow to 360 million in 2010 and upto 533 million in 2025, as per projections based upon historical growth pattern of population. To support this mammoth growth it is imperative to undertake measures for proper infrastructure and sustainable development. Otherwise this surging migration will find its place in ghettos of the big cities. It is widely believed that Special Residential Zones (SRZs) can solve this problem. The subsidised land with other concessions can provide low cost housing. Like SEZ for industries, SRZs can be a long term solution for the evils of slums in our cities. The slums, where almost majority of the urban population lives, showcase our cities in a very poor light of urban development and planning to the world.

By:- B&E
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