To meet the needs of urbanization and burgeoning cities, India must construct 700-900 million square meters of new commercial and residential property each year for the foreseeable future. That is equivalent to building Chicago every year.*
The Council's Real Estate Executive Committee is committed to working in concert with Indian and U.S. policymakers to realize the tremendous possibility of India’s residential, commercial, hospitality, and industrial real estate build-out. For India to attain its full potential as a global economic powerhouse with sustainable growth, buildings must be modernized, property markets must be made more transparent, land acquisition, digitization of land records and title issues must be resolved fairly. The Council also supports India’s ambitious program to build or reinvigorate urban areas into 100 Smart Cities.
• Promote Securities and Exchange Board of India (SEBI) and Reserve Bank of India (RBI) efforts to develop a listed real estate investment trusts (REITs) and real estate mutual funds industry in India, as well as a secondary market for these products and other real estate capital market instruments.
• Support U.S. real estate developers and investors’ participation in India’s manufacturing and infrastructure build-out, including projects such as the Delhi-Mumbai Industrial Corridor and Navi Mumbai.
• Highlight specific progressive states across India that have shown a track record of proven performance or are in the process of setting into place the policy architecture to ensure fair and stable investment from global investors.
• Advocate for the early passage of the Real Estate Regulation Act to promote transparency, accountability, and efficiency, for both buyers and builders.
• Streamline land acquisition-related clearance and permitting processes for manufacturing units and infrastructure projects; encourage land acquisition before inviting bids.
Held a Smart Cities Conclave to discuss and explore the vast potential India presents in Urban Development technologies.
Led a successful industry advocacy mission to the Vibrant Gujarat Summit in 2015, establishing the Council’s prominent role in India’s economic development as the official partner organization of the United States.
Convened a members-only interaction with state officials and officers from the city of Vizag to explore the possibility of converting the city into a modern Smart City.
Hosted U.S. Secretary for Transportation Anthony Foxx on his first mission to India to discuss how the U.S. government and member companies can work together to help India achieve its ambitious goals.
The Council has drafted several white papers on issues such as Smart Cities, Smart Cities financing, and permitting in India.
Convene a regular conference call for members to showcase the latest trends in the commercial and residential real estate markets in India, as well as highlight top cities and neighborhoods for housing and office spaces.
For more information, please contact Nick Mancini.