Real Estate Developers Urged to Work with Civic Bodies
Thara said each development interacted with the wider urban environment and required its external effects to be identified and mitigated. She urged developers to focus on rainwater harvesting, water recycling and sewage treatment, and to evaluate projects beyond their boundaries, including the infrastructure burden and resources they consume.
The conference discussions highlighted the growing importance of sustainable urban development and the need to include environmental considerations in planning and approval processes. Thara also called for a public-private approach to urban development and a broader definition of value that covered infrastructure requirements, resource consumption and environmental impact, rather than property prices alone.
Participants discussed how emerging sectors, expanding economic corridors and new cities were reshaping demand and creating opportunities for the real estate industry. They also sought faster and more integrated approvals through a single-window system that would allow applications to move simultaneously across departments. Speakers said affordability needed to be addressed throughout the value chain through improved floor space index, efficient land models, better infrastructure and lower capital costs.
The conference also examined measures to improve housing affordability. Vishal Gupta, president of CREDAI-NCR and managing director of Ashiana Housing, identified shortages of quality contractors and skilled labour as factors increasing construction costs. He said regulatory transparency had improved under the Real Estate (Regulation and Development) Act, but faster approvals, tax rationalisation, greater land availability and affordable capital were still needed. Gupta also said delays in building plan approvals, registrations and other compliance processes added to housing costs, while limited goods and services tax input credit further increased the burden.