From the pages of Images Retail (July 2009)

War against Development
By Sorabh Tayal

We have spent the last 60 years collectively striving, fighting and competing with the big bad West in order to get the elusive tag of a developed nation. There is very little that we have not done to meet the impossible undefined criterions laid down for the same. We have achieved excellence across various sectors where we have been able to put ourselves on top, but this has all come at a very heavy price, a price we are destined to pay for the rest of our lives… unless we wage a bitter fight against this development!

It might sound very prophetic and downright silly to even suggest curbing the growth at a time when it has finally seen the light at the end of the tunnel; however with such exponential development come a series of economic, environmental and social issues. It is exactly this inorganic and unmonitored growth which is being perceived by us as economic development!

The most dangerous part about this particular problem is that unlike other issues where some social classes get affected more than others due to the resources available, there is no immunity for anyone from this unforgiving virus. This article is an attempt to put into perspective this deadly menace specifically from the point of view of the gravity defying development taking place in the name of real estate development.

Sector growth story
There is no reason whatsoever to disbelieve or question the fundamental strength in the real estate sector. We as a nation have been only able to achieve growth of three per cent of GDP for the sector, whereas the average for even developing nations is over 7-8 per cent!


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