Sadhguru asks real estate industry to rejig itself

Spiritual guru Sadhguru has called on the real estate industry in the country to "rejig itself" to leverage new investment opportunities that will come India's way with some firms deciding to wholly or partially shut down their China operations.

Participating in a webinar on ‘Rebuilding the Nation and New Avenues for Real Estate’ organized by Confederation of Real Estate Developers' Associations of India (CREDAI) and National Real Estate Development Council (NAREDCO), Sadhguru asked "responsible builders” to change the image of the real estate industry by strongly advocating for unambiguous laws.

The real estate industry which employs 5 crore labourers is reeling under the onslaught of the pandemic with stalled projects and an unprecedented reverse exodus of migrants, he said.

“Unless we spread the investment and in turn the development, there is no way” the cities of the world can stop migration or offer quality of life to its residents. It is estimated that up to 78% of investments are concentrated in 32 cities around the world," Sadhguru said.

Responding to a question from Niranjan Hiranandani on how to rejuvenate cities, Sadhguru outlined his concept of ‘One Building City’ a vertical complex with residential blocks, office blocks, schools, healthcare and entertainment facilities contained in a single building with the land around it left free and forested.

"This can significantly improve living standards in villages and cities while also protecting the ecology," Sadhguru said.

He also called on CREDAI and NAREDCO to examine how the realty industry can change its relationship with migrant labourers by offering them better healthcare, accommodation, livelihood security and other facilities to encourage them to return to cities.