In a recent report submitted to the Government, Confederation of Indian Industry (CII) has suggested that the integrated township development activity be accorded an ‘Infrastructure Status’. CII has also asked for an industry status to the real estate and housing sector.
CII’s argument for the integrated township development stems from the fact that it is akin to the development of SEZs with complete set of infrastructure facilities.
At present, several real estate developers in the country are involved in the development of large scale urban development projects. Huge land tracts are purchased and developed for constructing houses, multi-storey buildings, as well as other infrastructural and social facilities. The report added that real estate developers would need incentives for creating such an infrastructure in the country.
In the issue dated Jan19-Feb1, 2009, Construction Week had reported that – through the second stimulus package – the government had opened up external commercial borrowings for the developers of integrated townships. In the light of the growing significance of integrated township development, Construction Week will be doing a special report in the forthcoming issue.
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