With the Gurugram Metropolitan Development Authority (GMDA) becoming functional a couple of days back, India’s Millennium City may now look towards a sustained and balanced growth. For, among other things, GMDA is expected to direct a suitable model for governance to improve synchronization among different agencies in the region. This, in turn, will boost infrastructure development for the raising population, enhance urban mobility and create a better urban environment in the city.
Industry experts say that in the backdrop of rapid urbanization, Gurgaon or Gurugram has expanded phenomenally in last few decades, and its population has grown tremendously. Increasing commercial spaces and job opportunities are expected to further boost the existing population in upcoming years. The market is booming with fast-pace residential and commercial development while infrastructure is not keeping pace with real estate development.
In the next 3 years, for instance, Gurugram is likely to see an addition of about 11 million sq ft of office spaces, which in turn will lead to urban agglomerations to spread beyond the municipal/ city limits. “As we expect such situation shortly, the formation of GMDA will coordinate the development of jurisdictions and set out a larger vision for regional development in Gurgaon. We expect that GMDA should direct well suitable model for governance to improve synchronization among different agencies in the region. This, in turn, will boost infrastructure development for the raising population, enhance urban mobility and create a better urban environment in the city,” says Surabhi Arora, Senior Associate Director-Research, Colliers International India.
City-based developers are also quite upbeat over the setting up of city’s local agency which may prompt further enhancement in the standards of living of the residents of Gurugram.
“The Haryana government’s decision to set up GMDA is an extremely positive move which will ensure sustained and balanced growth of Gurugram. The purpose is to provide infrastructure development, mobility management, sustainable management of urban environment, urban regeneration and renewal, and social, economic and industrial development in the area. We hope that this much-awaited move will prompt further enhancement in the standards of living of the residents of Gurugram as well as help generate work openings,” says Vineet Relia, Managing Director, SARE Homes.
Some developers think that GMDA will become the homebuyers’ voice and, thus, benefit them in the long term.
“The urban body will provide integrated and coordinated planning for infrastructure development. Besides having a major function of initiating urban infrastructure development, GMDA will also have the powers in real estate matters in the city, as it can acquire, lease, hold, manage and dispose of land. It will also become the homebuyers’ voice, benefiting them in the long term,” says Ssumit Berry, Managing Director, BDI Group.
Ravish Kapoor, Director, Elan Group, believes that the constitution of GMDA is a step forward in the administration of the city. It would ensure integrated and co-ordinated development and go a long way in enhancing the quality of life of Gurugram residents.
Developers also think that both developers and buyers will get benefited with the development works undertaken by GMDA. “The setting up of GMDA will help improve the health of the real estate sector in Gurugram and boost demand, benefiting developers and buyers alike. We think that with the development authority taking its charge, a positive and balanced growth of the city is certain,” says Rahul Singla, Director, Mapsko.