Global Goal for Sustainable Development and City Prosperity Index
For the first time in the history of FIABCI, International Real Estate Federation, we have a World President from an Asian country and he is none other than FarookMahmood, Chairman and Managing Director of Silverline Realty, a Bengaluru-based real estate broking firm.
He has both vision and mission to leadFIABCI to achieve greater heights in the real estate world. As a WorldPresident his first and foremost priority is to popularize UN – CPI Index in allthe cities of the World. Not to be mistaken by Consumer Price Index, CPI, City Prosperity Index is UN-Habitat’s urban development indicator applied in over 500 cities around theworld, a tool that provides metrics and data to evaluate urban development. Abaseline of the current urban situation, the index contains six dimensions. Itmeasure productivity, infrastructure, quality of life, equity and socialinclusion, environmental sustainability and governance. He says, “The aim ofthe CPI is to enable city authorities to identify opportunities and potentialareas of intervention for their cities to become more prosperous.”
His idea is to bring in positive urbantransformation in times of continuous urban growth. He adds, “Through theevaluation of this index, cities can have a better understanding of themselves.It identifies the underlying problems, the strengths and weaknesses. It gives asnapshot of the current state of the city, paving the way for development byadapting the most efficient strategies for sustainable urban development.”
Simultaneously, with the implementationof the Real Estate Regulatory Act (RERA), it is an icing on the cake. Hecomments, “The Real Estate Regulatory Act (RERA) and other policy changes helpin improving accountability and transparency. For FIABCI, RERA is a positivestep and the best thing that has happened to the real estate industry.Especially for HNIs, investors and funds, they will see this as a morepro-active, transparent and deeper way of doing business. With the act inplace, it will keep the developers on their toes and consumers will not betaken for granted anymore.” He is quick to add, “India is far better than theglobal market and regulatory changes will attract global investors to Indianreal estate market.”