The Urban Real Estate Marketplace

Rapid urbanization is fast compromising the urban real estate marketplace

. There are real concerns now about what the scenario will be what the scenario will be a few years down the line. Gradually, it is being realized that urbanization must go hand in hand with environmental sustainability measures.

For instance, by 2020, Indias demand for commercial energy will most probably increase by a factor of 2.5. India is already unable to meet its energy needs and rapid urbanization is not helping. We see the consequences everywhere in the form of power shortages and supply interruptions. This growing gap between energy demand and supply sounds an alarm about the need to increase dependence on stable, more environment friendly energy alternatives, such as solar power. However, one of the problems is that the Indian real estate sector is divided into players who are serious about sustainability, and those who arent. The second group, which is in the majority, has the issues with overall profitability, since rendering land and buildings sustainable costs money. However, the overarching issue has more to do with change resistance. The laws of change resistance underline the difficulty in persuading people, corporations and nations to adopt proper sustainability practices.

Courtesy: htestates dtd: June 05, 2010

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