Archaic Land Laws Responsible For Current Realty Process

August 16, 2007	(1 votes, average: 1 out of 5)  Loading ...
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There is no dearth of good apartments in Mumbai but if it is about scouting good flats at cheap rates, then there is a doubt. Close by heels of Mumbai, there are other cities witnessing frentic real estate development activities but their property rates are going through the roof.

The only reason for the lack of developable space appears to be the demand-supply mismatch in cities which is further ‘pushing up the property prices’. Undoubtedly, there is an extreme scarcity of land in growing cities.

There is more to add to woes of developing cities. Apart from unaffordable housing, they are facing the problems of erratic infrastructure, environmental insensitivity, traffic congestion, and pollution.

Although, experts believe the urban areas to have enough land but it is not being used in a proper way. Also, the laws governing cities are not allowing the authorities to release land.

The government requires checking all the policies related to the subject of Land, specifically urban real estate. It will help to control the soaring land prices and improve the urban quality. The current real estate process is an outcome of the outdated laws, says Jai Mavani, executive director, KPMG.

Only 28 per cent of Indians live in towns, says the data showcased by the 2001 census. The rate of the development in urban cities and its population go hand in hand.

Of the 593 districts in India, 10 had a population density higher than 12,000 per sq km, a fact which clearly underlines the rising demand for residential property and urban space.

News Published Under:   Real Estate Developers |

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