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HomeNewsBusinessRiverfronts command the highest returns on investment: Sabarmati Riverfront Development Corp Chairman

Riverfronts command the highest returns on investment: Sabarmati Riverfront Development Corp Chairman

Srinagar city may become the model for city renewal for the country. Developing the Jhelum riverfront while restoring the built heritage on it, says Keshav Verma.

March 31, 2023 / 09:39 IST
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"We are developing the Jhelum water front… Srinagar city may become the model for city renewal for the country," said Keshav Verma, Chairman, Sabarmati Riverfront Development Corporation. (Representative Image)

Riverfronts command the highest returns on investment as all central business districts are located along river banks, said Keshav Verma, Chairman, Sabarmati Riverfront Development Corporation at News18's Rising India Summit held in the Capital on March 30.

Asked why India has not been able to develop its riverfronts considering that they are big commercial districts and also prime real estate, Verma said that the challenge is to do with the long-term nature of these projects.

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“The problem has been that of political will. These are long-term projects and take about 10 to 12 years. I head the high-level committee on urban planning for the government and one of the recommendations is to take 25 cities which are on the riverfront and develop them. If you look all across the world, the highest amount of return on investment is on riverfronts. All Central Business Districts are on the riverfront. Yet we haven’t really thought about how to do this,” he said.

Srinagar city development