Cities, the world over, are bursting at the seams. With urbanisation on the rise, urban populations have now outnumbered rural populations in many nations, and the ‘exodus’ shows no signs of abating.
Over the next few years, the ratio of urban to rural population will change even more as hundreds of thousands of people move to cities to earn a livelihood and give their children better education and a better life.
According to a McKinsey Global Institute report, 590 million people will live in Indian cities by 2030, almost twice the population of the US today.
An investment of $1.2 trillion will be required to meet the projected demand in these cities, and about 700-900 million sq metre of land space needs to be built, or a new Chicago every year.
The study states that India will require 20-25 new cities in the next 30 years near the largest 20 metropolitans by providing adequate infrastructure.