News roundup: Better infrastructure knits India closer together, plus more headlines

For PropertyGuru’s real estate news roundup, better infrastructure knits India closer together. In other stories, staying active in your building’s management could also be an investment in your property’s future. Finally, the local government of Bohol in the Philippines is enforcing stricter approval processes for new developments following the Chocolate Hills resort controversy.

Infrastructure brings India closer

In February, Indian finance minister Nirmala Sitharaman unveiled plans to spend nearly USD134 billion on transport infrastructure in the coming financial year, the continuation of a massive programme of spending on roads, rail, airports and waterways across the nation.

This infrastructure spending underpins ambitious plans to boost GDP to USD5 trillion in 2025, from USD3.63 trillion in 2023, and to become a developed nation with USD30 trillion GDP by 2047. As well as transport infrastructure, India is investing in energy provision, including renewable energy, and building up its digital infrastructure, according to Savills.

“India has invested substantially in infrastructure of all kinds over the past decade,” says Arvind Nandan, Managing Director, Research and Consulting, at Savills India. “For example, the number of airports has doubled to around 150, with plans to expand that to 220 by the end of this decade.

Real estate is a direct beneficiary of these projects, Nandan explains, as they improve links between and within cities. “Better infrastructure is knitting India closer together. Airports and highways are linking cities, while metro lines, such as those in Mumbai, are connecting new areas of the city and opening them up for development.”

9 FAQs about staying active in your building’s management

If you are a property owner, you have a vested interest in the well-being of your building, which goes beyond the walls of your unit. It involves the shared spaces, facilities, and overall environment you and your neighbours call home.

Staying active in your building’s management could also be an investment in your property’s future. Understanding your role, the significance of annual general meetings (AGMs), and the dynamics of the Joint Management Body (JMB) or Management Corporation (MC) can shed light on why active participation can be beneficial.

PropertyGuru Malaysia outlines the perks of being actively involved in your building’s management.

Bohol resort sees stricter approvals after Chocolate Hills public outcry

The local government of Bohol in the Philippines is enforcing stricter approval processes for new developments following the Chocolate Hills resort controversy, a resort owner said.

“They have been very strict… the Protected Area Management Board is very cautious, and I don’t think they have approved anything in terms of development in those areas,” Amarela Resort Corp. President Lucas M. Nunag told BusinessWorld on the sidelines of a Philippine Hotel Owners Association event on 21st June.

According to the latest Philippine Hotel Investment Outlook Survey by Leechiu Property Consultants and the Philippine Hotel Owners Association, Bohol led with 41 percent of respondents showing interest in exploring hotel development.

The Property Report editors wrote this article. For more information, email: [email protected].