In the whole world, fiscal constraints have seen the innovative approaches of business. Public-private partnership (PPP) in one of those arrangements between government and private business for the procurement of public assets. Moreover, the governing sector determines the approaches of real estate. This term ‘public-private partnership’ determines the business dealings of the public sector with the private dealers. It works in cost and benefit, and risk and reward of the project. PPP deals in financing, development, and maintenance of any infrastructure provided by the public sector to private working companies. It is a contract based deal between two actors. In this sector many projects are framed in the due period. It also works for social infrastructure. PPP is working well in India like many other developed countries.
Commercial real estate
First, fundament principle of (PPP) is an affordable housing scheme for the public sector. In this, the land is provided to the real estate owners, and that builder fabricated the required building. Indeed, the public sector overcomes many challenges of building infrastructure. There are four phases of constructing a building, pre-construction phase, construction phase, allocation phase, and operation phase. Indeed, the public sector keeps an authority to examine all the phases with their requirements.
Model houses for public-private sector
The real estate sector presents some high class and well-structured houses in front of the public as a model, and the public sector has the authority to finalize their model house or building. Indeed, Godrej River Greens is one of those model buildings for the public sector. Moreover, this is also a major organ of the real estate through India. It is located in Pune and has managed to bring many other flabbergasted projects. Indeed, the private sector has implemented this module in many buildings. Moreover, the other model houses are also located in Delhi, Mumbai, Kolkata, and Bangalore.
Technical and technological remedies for PPP
Last but not least, technological aspects can never be ignored in any business. As we know, the world is moving toward 5th generation technology. So, should we not apply the most advanced technology in public sector infrastructure? Yes, we need to bring more technical and the technological tools for the advancements of building infrastructure in (PPP) of India. Many of the real estate authorities have worked in technological phenomenon. Properties in Bangalore can be seen as the most beautiful project in all the angles.
Hence, the public-private sector can only adopt all the features of development with the help of the most valued real estate builders.