Building Smartly

August 20, 2017 By Lodha Web

Building Smartly

By Abhishek Lodha

India is among the fastest-growing major economies, but organised real estate has a small base. Any projections on India’s population and likely GDP growth over the next 10-15 years imply growth for real estate. No major economy has grown without this happening.

Real estate is a feeder to the consumption cycle because it allows wealth to grow on the asset side. As people become affluent, one of the most important things they want to upgrade is where they live and work.

Though residential and commercial are the largest segments now, I see growth across sectors because we lack good supply everywhere. Retail, hospitality, education and healthcare are all growing fast.…

A smart city is not just about technology. This misinterpretation has often led cities to make investments that are doomed to fail. Cities can be governed using technology but have to be designed with vision. I say that to make a place good to live, you need “CCTV” to work: citizens, community, technology and vision.

Probably because technology is more tangible than community or vision.… When we started building Palava, we began with the classical definition of 5-10-15, which means everything you require daily should be within five minutes of walking, what you need every three to four days should be within a 10-minute walk, and things you use within a week to a month should be within a 15- to 20-minute walk.