These cities include Nagpur, Lucknow, Jaipur, Kochi, Bhopal among others
As many as 45 cities including Nagpur, Lucknow, Jaipur, Kochi and Bhopal have the potential to become the next megacities, says a report titled India’s Future Cities by JLL India and Credai at New India Summit in Nagpur.
The Dawn of India’s Future Cities emphasizes that India needs new cities to augment its growth and leverage its promising demographics. Initiatives such as ‘100 Smart Cities’ and the Urban Rejuvenation Scheme – AMRUT will provide emerging cities with a blueprint for becoming the next flagbearers of development in India.
The study bases its findings on key parameters such as socio-economic momentum, enhanced connectivity infrastructure and high-value indicators. With a sharp-focus on real estate, it identifies areas of opportunities for developers while reiterating the impact of regulatory changes on the sector.
India’s urban population currently accounts for 33.5% of the total population and contributes over 60% of India’s GDP which is projected to increase to 75% by 2030. This rapid pace of urbanization underscores the need for discovering alternate channels to leverage India’s workforce and increase efficiency, thereby improving the standard of living of its citizens.
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“The real estate and infrastructure sector will become a key agent of change by rendering the next wave of Indian megacities future ready. This sector is strengthening the country’s infrastructure backbone and helping in providing more physical space for its citizens to become happier and simultaneously more efficient economic agents. The report released at the New India Summit 2017 - aptly being held in Nagpur, one of the identified future megacities – provides a detailed roadmap for the Dawn of a New India,” said Ramesh Nair, CEO & Country Head – JLL India.