The ambitious plans, unveiled at MIPIM in Cannes, are an attempt to lure international investors into the country’s potential $2 trillion real estate sector, through smart, affordable developments.
A change in government attitude has consequently seen sharp reform of regulations aimed at attracting global investors.
Not only was a change in attitude towards investment required, but so too must there be in the way capital is deployed if investors are to make the most of the country. Girish Grover, CEO at Turnit Capital, said: “Execution is the biggest challenge in India at the moment.”
Guy Perry, president of smart cities at Essel Group and senior advisor to McKinsey & Co, described potentially novel applications: “We are looking at developing units using economies of scale based on container technology.”