“Focus on rural, semi-urban areas”
GRK Reddy, CMD, Marg Ltd, has suggested shifting focus to the rural and semi-urban areas to fight the slowdown.
“Economic growth will come from new areas where the scope for development is more than 90%,” Reddy said in Mumbai recently.
His suggestion comes at a time when the industry is struggling to sustain business, particularly in the urban areas.
“As an industry, we need to address the functional needs of rural and semi-urban regions in terms of affordable housing and essential infrastructure. There’s no more growth in catering to the lifestyle needs of big cities,” he added.
He emphasised on the selection of strategic locations not far from existing urban centres.
“Land costs are relatively lower in these places,” he said.