The real estate development sector India is set to undergo tremendous changes. The maiden Budget by the Narendra-Modi-led NDA government was welcomed by the industry players who believed that the 2014-15 Budget would support a higher growth trajectory for the real estate sector. Due to the emphasis laid on affordable housing, improved infrastructure, reviving buyers' sentiments and developing infrastructure in Tier 2 cities, the giants of the realty industry are also eyeing the new developing cities. The reduction in the threshold of FDI in real estate will allow a new class of overseas investors into smaller projects which can support the need for housing across the country. The raising of the income tax exemption limit and the exemption limit on home loan interest will provide an impetus to potential home buyers. 

The buzz around smart cities created after the Modi Government announced an investment of $1.2 billion to create 100 smart cities in India has multinationals like Dassault Systems’, Philips, IBM, Cisco, Intel, Schneider Electric and Bosch lining up for a slice of the smart city pie. With products and solutions ranging from connected lighting and connected networks to simulating smart cities and building management solutions, multinationals are eyeing a $35-billion IoT (Internet of Things) opportunity in India, of which smart cities are an integral part. 

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Development being the prime focus has already attracted an offer from the Singapore Government to help create smart cities across India. Creation of Smart cities would lead to emersion of new micro-markets near the main cities creating investor wealth in those cities as well.

With the ever renewing prospects and demands, Staying ahead is an everyday battle in this industry. Sustainable advantage becomes a utopian concept as competitive advantages are lost in no time. This is because, a single discipline of capability, do not have the key to today’s solutions. In order to deliver effective innovative projects, the convergence of multiple disciplines has become inevitable.

In partnership with National Real Estate Development Council (NAREDCO - Under the patronage of Ministry of Housing and Urban Poverty Alleviation, Government of India) and Council of Architecture, this initiative by IDE will aim to cohesively bring together the movers and shakers of the real estate sector in India with a view to redefine standard processes and objectives in order to continually advance India’s real estate sector.

The Future Of Design supports this IDE initiative; invites all architects, designers and real estate developers to participate in the 3rd Annual Design Mission India.