Real Estate Developers Woo Healthcare Firms to meet Government Norms

April 1, 2008	(Be the first to rate this story!)  Loading ...
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Healthcare companies are having a field day as more and more new townships are mushrooming across the country.

To meet the government’s mandate to set aside 10% land for facilities such as healthcare and education in townships, healthcare companies are being wooed by real estate developers to set up hospitals in their townships.

With just a handful of corporate hospitals in India, which have both the scale and brand, there is urgency among developers to choose from the few healthcare companies available. “While it is an opportunity for both healthcare companies and developers, the scenario has become more favorable for us. We are being approached by real estates players from across the country, “ says Max Hospitals ED medical operations Pervez Ahmed. Fortis Healthcare has entered into an agreement with DLF to set up 14 hospitals across the country in latter’s townships.

Cushman & Wakefield, India, joint managing director Sanjay Dutt said, “There are more than 250 townships of over 100 acres in size being developed in the country. At least 25 of these are of the size of 2,000-9,000 acres. Since majority of townships are located outside the main city, the infrastructure is very poor. Moreover, developers are selling these townships as lifestyle product. So a township must have all amenities, including high quality healthcare and education facilities.”

Under government norms, a developer has to keep a certain proportion of total area for amenities and green land. The norm is fixed by respective state governments. On an average, the area allocated for amenities, which includes healthcare, schools and local service centre, is around 10%.

News Published Under:   Real Estate India, Real Estate Developers |

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