CM to preside over ‘STATECON 2023’; ‘Real estate contribution to state GSDP stands at 10%’
Kolkata: Ahead of the real-estate state conference that is scheduled to be held on September 4 and inaugurated by Chief Minister Mamata Banerjee, CREDAI Bengal on Friday highlighted that rapid urbanisation has created the need for a state-private collaboration in the real estate sector to meet the increasing demand of people.
The ‘STATECON 2023’ will be organised at the Dhono Dhanno Auditorium on September 4. The theme for this year is ‘Showcasing of Real Estate & Urbanisation’ as a driver of economic growth and employment’. It is expected to be attended by industry stalwarts as well as key government officials to deliberate and discuss upcoming opportunities and
challenges in a hypercompetitive market.
Sushil Mohta, President, CREDAI West Bengal said that the rise in income of the middle class is helping in a steady upward shift from the lower income group to the middle-income group. The overall rise in disposable income has enabled people to buy homes for their families as their first priority. These necessitate an accentuated pace of development in infrastructure in urban areas like roads, housing, educational institutes and healthcare facilities. However, it is not possible for the state government alone to bear all the pressure. Hence, collaboration with the private sector is vital.
Sidharth Pansari, President –Greater Kolkata of CREDAI said: “It is expected in Bengal, the rate of urbanisation will move up to 42 per cent in the state from the current 36%. This will entail an addition of almost 8 million people to urban West Bengal in this period. Keeping in mind an existing shortage of urban housing it is the need of the hour to accommodate maximum numbers of people in
lesser land.”
“Bengal promises to be Eastern India’s gateway; West Bengal’s population is predicted to touch 103 million by 2036 in West Bengal, with an increase of 15 million people in urban areas. The urbanisation rate in Bengal is higher than that of the country. The GSDP is growing at 8.41%, which is higher than India’s growth rate of 7.24%. The current state’s GDP stands at 8.5 trillion rupees at constant prices. The construction sector’s contribution stays at 10% in the state; however, the volume has doubled in the last decade,” added Sushil Mohta.
