Building National Real Estate Assets with events like G20 - A New Vision for India's Growth

In recent years, a significant transformation has been taking place in India's real estate landscape, driven by the need for strategic development beyond the national capital. Urban design experts are advocating for the creation of "national real estate assets" in cities across the country, inspired by the success of international events like the G20 summit, which have been held in various locations recently.

The Shift in Perspective

Traditionally, the focus of hosting national and international events has largely centered on Delhi, with venues like Vigyan Bhavan being the go-to choices. However, this approach is evolving, as experts recognize the importance of spreading the development to different cities. Prime Minister Narendra Modi emphasized this shift, highlighting the "democratization" of events, where the G20 Presidency has seen over 220 meetings in 60 cities, involving participants from diverse backgrounds and nationalities.

Avoiding costly and impractical projects

Creating such national real estate assets is a promising prospect, but the experts stress the need for meticulous planning to ensure their long-term utility. The goal is to prevent these venues from becoming "dead assets" that burden the host city.

Modern Infrastructure for Progress

One prime example of successful asset creation is the Bharat Mandapam, conceived as part of the Pragati Maidan redevelopment project. As the nation progresses, modern infrastructure is essential to keep pace with the times. These legacy assets, created with budgetary allocations, are expected to play a pivotal role for the next several decades.

The need for More Facilities

There is a growing need for similar facilities across the country. New infrastructure not only generates revenue but also projects India as a destination for meetings, incentives, conferences, and exhibitions (MICE) tourism on a global scale.

Beyond International Use

Experts advocate planning these assets to serve not only international events but also local purposes. Ensuring that these facilities remain viable in the long term is crucial to avoid economic burdens on host cities. Additionally, mixed-use development around convention centers can enhance their sustainability.

National Significance and Economic Contributions

These projects hold national significance, contributing to the economic growth of the areas they are located in. They create jobs, add value to real estate, and offer timeless design concepts. To maximize their impact, asset creation should be spread across the country to accommodate both national and international events.
As India's real estate landscape evolves, there is a growing recognition of the need for strategic planning and investment in national real estate assets. These assets not only serve as venues for events but also contribute to the overall growth and development of the regions they are situated in. The vision is clear: a future where India's cities shine as hosts for national and international gatherings, with modern infrastructure and thriving communities.
In conclusion, the creation of these national real estate assets represents a significant shift in India's urban planning strategy. It's a step toward a more inclusive and balanced development approach, ensuring that prosperity and growth are not limited to the national capital alone. The nation's journey toward becoming a global leader includes expanding its horizons and investing in the infrastructure of tomorrow, a vision that promises a brighter future for all.

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