5 Best Global Practices India's Housing Sector Should Adopt

It is a given that many of us, who invest most of their life's savings in buying a home, would not want to compromise on the quality of construction, value for money and the ease of living while taking the decision. However, if the real estate sector and urban planning cells operating in your city do not adhere to this agenda, as a buyer you may be in for trouble. Here are five global best practices we wish the Indian realty ecosystem would abide by:

Building codes: While we have our own set of building codes, the United States and the United Kingdom are countries that largely focus on the quality of construction. The latter abides by the National House Builders Council (NHBC) that provides the benefits of insurance of over 80 per cent homes built in the country. Even in South Africa, the National Home Builders Registration Council (NHBRC) makes it mandatory for developers to ensure protection to those complaining about building defects. In India, it is not binding upon a developer to provide such services. Hence, instances of unauthorised buildings or damage to buildings owing to poor urban planning or natural disasters such as earthquakes keep recurring.

Also read: What National Building Code Says About Fire Safety

Green designs: Green buildings are slowly catching up in India. But, the popularity of anything green, in a price sensitive market, meets with instances of resistance initially because it comes at a cost and that acts as a deterrent. However, if this helps, the Empire State Building in New York went in for a major eco-renovation in 2011 which helped the building to cut down energy use by $4.4 million.

Also read: With 753 Green Buildings, Mumbai Tops The Chart, Delhi Follows

Build near transit corridors: State and local authorities in the United States have started rewarding those who materialise affordable real estate near transit corridors. California, Maryland and Minnesota have such rules. The State of California's Debt Limit Allocation Committee incorporates not only smart growth but also community reinvestment, prioritising investments in low-income urban core communities. There are special incentives such as density bonuses.  In India, while affordable remains a priority, there is no effort to create these near transit corridors.

Better urban planning: Metropolis, a New York based magazine chose to highlight Copenhagen as one of most livable cities.  We are impressed by the fact that almost 45 per cent of the local population use bicycles to commute cutting down on air-pollution besides being good for health. Also, the urban planning is conducive to encourage this. There are almost 26 bicycle highways under-construction. While Indian developers highlight 'walk to work', by 2025, almost half the population in Copenhagen is expected to cycle to work/school. Moreover, architects, knowledge institutions, engineers and private and public partners are working towards retrofitting new developments in the city in a similar sustainable way.

Also read: Is Geographic Information System Key To Urban Planning?

Trained and licensed brokers: Why only housing? Those selling a house to you should also be worth your time, too. Cities like California have licensed real estate brokers. Their formal training takes two years so it is evident that brokerage firms are not involved in any kind of unstructured selling. However, if the aspiring real estate broker is an attorney and a member of the California State Bar with a good repute, he or she may be exempt from the formal training.