Real deal in Real Estate this year: How PM Modi’s Gatishakti Plan is re-shaping Indian Real Estate market

New Delhi: Prime Minister Narendra Modi’s GatiShakti Master Plan is a scheme that focuses on multi-modal connectivity amongst infrastructure projects in India with a funding of around 100 lakh crore.

This integrated nature of various projects makes it easier for users to access all facilities quickly with the Indian Real Estate experts believing that GatiShakti Plan will improve infrastructural connection and minimize people's commute time.

Founder and Managing Director of Sahiti Group, Dr Boodati Lakshmi Narayana, in an exclusive chat with Reema Sharma of Zee Media said, while the consumers and developers are waiting for the GatiShakti Master Plan for more than a year now, it is a relief that the project will finally be implemented in full means.

The GatiShakti Plan will address the following concerns focussing on buyer specificity and infrastructure industry:

- Accessibility of departments

Due to the presence of various departmental stores, items, facilities at different locations, it becomes difficult for individuals to access them all at once and at ease. People, commodities, and services will be capable of moving more easily and efficiently because of multidimensional interconnectivity.

Employment Avenues

PM GatiShakti initiative wants to create a lot more jobs, lower logistical costs, strengthen distribution networks, and make domestic products more global. In a nutshell, the GatiShakti Master Plan is a technology marketplace that would bring together 16 departments, including railways and roads, for unified planning and implementation of infrastructural connectivity projects.

Dr Boodati Lakshmi Narayana believes that GatiShakti may also help our economy build a firm foundation by raising the worldwide profile of local producers and assisting them in establishing themselves on a broader scale.

- Cost Optimization

The implementation of PM GatiShakti would assist in determining the best cost-effective and time-efficient path. The interconnection of Railways and Roadways along with other departments makes the process less cumbersome and cost-efficient.

- Future of Economy and its growth

As per Dr Boodati Lakshmi Narayana, GatiShakti will regulate every policy arena relevant to India's economic growth over the next several years, necessitating wide-ranging reforms in the planning and implementation of government initiatives up to the state level. This would also enforce greater engagement at the Centres. States will be able to use the same geospatial tools to link their development strategies with the comprehensive program and propose new projects under Gati Shakti.

Reduction of technical costs involved

PM GatiShakti's master plan aims to reduce logistics costs to 8% of GDP, down from 14% when the Modi administration took power. Piyush Goyal, the Commerce and Industry Minister, stated that it will result in savings of roughly Rs. 20 lakh crore for a $5 trillion economy. The cost of transportation and logistics will be lowered, lowering the cost of the merchandise. In rural locations, more micro, small, and medium Enterprises (MSME) will emerge, providing economic growth and jobs. Any project that impacts the economy positively is beneficial for the government and the citizens on multiple levels.

Apart from the issues it solves, it aims to achieve certain goals which will change the dynamic of the country’s infrastructure plans majorly.

Dr Boodati Lakshmi Narayana says that GatiShakti will leave a great impact on the nation. “By 2024-25, the plan calls for 11 industrial corridors, expecting a return revenue of Rs 1.7 lakh crore in the military sector, and 38 technology production clusters, and 109 pharmaceutical clusters. The goal of the Road, Transport, and Highways Ministry is to build 2 lakh km of expressways, complete 5,590 km of four or six-lane national highways along with coastal areas, and connect all capital cities in the northeastern region of the nation with four-lane national highways or two two-lane national highways,” he adds.

Dr Boodati Lakshmi Narayana further mentions that GatiShakti's digital service currently includes infrastructure projects from 16 ministries, with multi-thematic layers that will aid the government in mapping, budgeting, administrative approvals, prioritizing, monitoring, tracking, data management, and strategic planning.