Skyscrapers: The Future of Indian Real Estate

After the coming of Modi led government at the center, the urbanization drive in India has regained its lost pace. Better urban planning and development of ‘100 Smart Cities’ were the two key promises made by the government. A well-developed urban skyline will not only cater to the needs of dwellers but will also attract a great deal of foreign investment. According to a report, by the year 2050, India will have more than 400 million urban dwellers and so more will be the need of residential and commercial properties.
Skyscrapers: The Future of Indian Real EstateHowever, urbanization will require more land parcels. But the paucity of available land in the urban cities of India has come forward as one of the biggest challenges in this process. And when there is no space to grow on the land, the cities will develop vertically. High rise buildings will mark the future skyline of the metropolitan cities. Several high-rise residential projects are already in the pipeline. Lodha World One in Mumbai is going to be the world’s tallest residential tower at 423 metres.

The government has also realized the need for skyscrapers and accordingly raised the Floor Space Index (FSI). FSI is the ratio between the total built up space to the available plot area occupied by the project. Higher the FSI, more will be the number of floors a developer can build. This will also let the builders reconstruct older structures from scratch.

The expert planners, however, are of the view that more high rise buildings will put more pressure on the city’s infrastructure. The actual benefit of skyscrapers can be realized only if a proper supportive infrastructure is in place. It includes a thriving network of roads and highways, recreational spots, parking spaces and other elements of social infrastructure. A vertical growth should be in coordination with the neighborhood’s layout.

Though the high rise buildings will surely solve the problem of residential space in the country, they will also guzzle more energy. Hence the technological intelligence also needs to go hand in hand with the development so that we find out sustainable ways of meeting the energy needs in an efficient manner. An intelligent technology is needed to support the rapid vertical growth. Water and waste management also require due attention.

Skyscrapers are surely the future of Indian real estate but they can also create much of a planning havoc if they do not interact with the rest of urban infrastructure.