Sagarmala,Project,Gets,Green,S business, insurance Sagarmala Project Gets A Green Signal; Understanding Its Inf


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The project intends on developing a string of ports along the nation’s coasts. During 1998-2004, the National Democratic Alliance (NDA) government under Atal Behari Vajpayee made a move to commence this project and the present NDA government has reinforced it once again. Under this project, 12 different cities from the port regions under the Special Economic Zones will be made major priorities.Through the Sagarmala Project the government plans on connecting coastal cities by developing other modes of transport, be it road, rail, or air. So the project aims to impact more than just ports.The ProjectThe Sagarmala Project will improve the overall status of the ports, along with the infrastructure for other networks of transport and communication with the help of many little sub projects. The principle approval from all the ministers has given the project the green light to move forward. The entire project will cost about Rs. 100,000 crores and the government will be providing for 15 per cent of the total cost. The major ports in the project will consist of those connected by high speed expressways to form the Golden Quadrilateral.ObjectiveThe main objective of this project is to improve the condition of the ports in order to bring about overall direct and indirect developmentIt also aims to provide decent infrastructure for the shipment of goods to and from the country as quickly as possibleMaking efficient transport for specific commoditiesCreate employment for lakhs of peopleIncrease investmentsInfluence On Real EstateThe project will improve and advance the coastal identity in many locations. With its progress it is also expected to give a boost of 2% to the country’s GDP. People looking to avail home loans and those who already have will benefit from this. Also, the decrease in rates will positively impact the real estate sector.The ImpactThe Sagarmala Project expects to improve the infrastructure only. But this will indirectly aid the real estate sector too. Developing infrastructure means developing connectivity, through means of transport. Interlinking areas is important for the development and progress of any area, while pooling its resources. Connecting cities will increase the economic activity in various locations, ultimately allowing businesses and industries to set up in new regions. The creation of jobs in specific areas due to the Sagarmala Project will translate to a greater demand for homes and lodging, which will gradually lead to a flourishing real estate market. Article Tags: Sagarmala Project, Real Estate

Sagarmala,Project,Gets,Green,S

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