How India’s affordable housing boom affects contractors
Professional services consultancy Procorre has identified a surge in jobs for specialist contractors in India as a direct result of the country’s affordable housing commitment.
Prime Minister, Narendra Modi, launched his ‘Urban Mission’ campaign in June 2015, along with a £30 billion investment to build around 20 million houses by 2022.
As of April 2016, the government has identified over 2,500 cities and towns in 26 states to begin construction of homes for the country’s urban poor. Developers including CSC Constructions, VBHD, PDL and Tata Housing are already on board and are driving the demand for construction and engineering contractors.
James Alexander, Director of Global Mobility at Procorre, said: “Following the government’s pledge to provide homes for India’s urban poor, we are seeing demand for contractors as the housebuilding sector works to meet the country’s construction goals over the next five years.”
Guidelines for Modi’s Urban Mission state that the houses built under the scheme should be designed and constructed to meet structural safety requirements against earthquakes, flood, cyclone, and landslides.
They also include a technology sub-mission to facilitate state technologies for adoption of layout designs and building plans suitable for various geo-climatic zones and to deploy disaster resistant and environment friendly technologies.