India's Urban Surge: Rs 40 Lakh Crore Investment in Infrastructure

India's urban infrastructure sector has received significant investments and is poised for further growth. Union Housing and Urban Affairs Secretary Srinivas Katikithala emphasizes the need for real estate alignment with infrastructure developments and greater private sector participation. The RERA law is highlighted as a priority for effective urban planning.

India's urban infrastructure sector has seen an astonishing investment of Rs 30 lakh crore in the past decade, with an additional Rs 10 lakh crore expected over the next four years, according to Union Housing and Urban Affairs Secretary Srinivas Katikithala.

Addressing the 17th NAREDCO convention, Katikithala highlighted India's rapid urbanization, predicting over half the population will reside in urban areas in 20 years. He urged the real estate industry to target projects where infrastructure is emerging, advising against waiting for infrastructure to reach them.

Katikithala called for better alignment between development and infrastructure, stressing the private sector's role in enhancing urban efficiency. The real estate sector is encouraged to take proactive steps in supporting the RERA law, with the Prime Minister prioritizing its implementation.

(With inputs from agencies.)