More than 700 to 900 million square meters (sq mt) of the built environment will need to be added to Indian cities every year to fully harness the economic potential of individual cities, Union Minister of Housing and Urban Affairs, Hardeep Singh Puri, said in a virtual address at real estate summit, Brigade Reap: Propagate 2022. Construction technology is key for India to achieve net-zero emissions by 2070, Puri added.
The summit strives to address the challenges that the real estate and construction industry faces globally.
"The built environment generates significant carbon emissions accounting for almost 39 percent of gross carbon emissions worldwide," he added.
Speaking at the summit, Dr. Ashwath Narayan C.N., Minister for Skill Development, Entrepreneurship & Livelihood, Karnataka, added that much of the real progress in Bengaluru city is due to the contribution of the real estate industry. "Without technology, it is impossible to meet the staggering demand for housing in the city which is growing faster than ever before," he added.