Gurgaon; Millennium city greets the reviewed norms

Delhi NCR has been known for its strategic location and its contribution to commercial growth in Indian economy. Expansive urbanization has steered a massive influx of immigrant population in this region over the last decade. Subsequently, ecology in Delhi NCR has undergone many restructuring initiatives to sustain this quantum of commercialization and growing population.

Gurgaon also popularly known as ‘Millennium city’ has absorbed a prominent share of commercial growth and population burst. Most of the immigrant population constitutes salaried class and they prefer an ‘integrated’ lifestyle. Integration predominantly refers to proximity of schools, hospitals and shopping marts to their residencies. Hence the working class immigrants have welcomingly opted for high/mid-rise apartments for their habilitation. However, such a magnitude of demand for housing and commercial space was unannounced for this town. Therefore, high-rise residencies have rapidly proliferated and Gurgaon has turned into a full-fledged business district in a very short span of time. The persistent demand for construction has put immense pressure on limited availability of land in Gurgaon. 

Recently, the growing paucity of land encouraged government to constitute an investigation committee for recommending resolution to the problem of land scarcity. As an outcome of these recommendations, Environment and Forest ministry at the center has decided to delegate decision making powers. The state governments according to new rulings will be capacitated to locally formulate statutes for high-rise residencies in different states. This ruling has been welcomed by builder associations all throughout the states in India.  Gurgaon specifically needed favorable norms to complete the under-construction residential and commercial projects. Numerous Indian and Foreign service sector companies have their head and corporate offices in Gurgaon. With expanding operations and scope of trade, there has been a parallel increase in demand of office spaces and residences. This ruling will help permitting more high-rises to be accommodated here and subsequently overcome the mounting pressure from scarcity of land.

The collaborative decision has been taken in due consultation with administrative committees and real estate experts.  The new guidelines would further enhance construction scope in this region as the developers would get free from their blocked investments owing to lack of clearances from ministries. The government has made sure to implement this ruling with a strategy for future sustenance. Specifications for width of approaching roads to localities and proximity to firefighting stations have been laid down to be dutifully adhered for construction. 

The relaxing of norms by the union government has been opinioned as a logical move at the right time. It would certainly bring in the balance between growing need of houses and directing development to be well planned and sustainable. Developers have been encouraged with a mix of factors acting in favor of growth for realty sector. Recently, RBI has graded residential real-estate as a separate sub sector and allowed for cheaper external commercial borrowings. These rulings have been seen as a win-win situation for all the stakeholders in real estate sector. 

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