How Realty Firms Can Shape the Future of Mobility in India

By : 360 Realtors

14 March, 2022

Electronic vehicles (EVs) are slowly gaining popularity globally. In India too, an increasing number of people are starting to switch to this environment-friendly option. The government has also indicated that it would be promoting EVs over conventional vehicles. In addition to pushing for public transport in urban areas, the government has also pledged to promote EV use by creating special mobility zones with zero fossil fuel policies.

While all this sounds good, a major roadblock still remains – the lack of charging stations. The number of charging stations in India is far less than is needed. So far, the government has sanctioned only 2877 EV charging stations in 68 urban centres, and 1576 on highways and expressways. Even though policies like FAME-II are incentivising EV manufacturers to produce more electronic vehicles, the lack of infrastructure is deterring many car buyers from buying EVs.

While conventional vehicles need only a few minutes to refuel, EVs require at least half an hour of charging. This, in turn, leads to a space constraint as the charging stations could become clogged with too many EVs queuing up to charge. Although the government has proposed a battery swapping policy to solve the issue, it isn’t the safest option.

At such a time, real estate developers can capitalize on the situation by including electronic vehicle charging stations in residential projects. While this would make it much easier for EV owners to charge their vehicles, the developers would attract more sales as well. Naturally, homebuyers who own or plan to buy an electronic vehicle would prefer to live in a project with charging facilities. A number of builders have already started offering EV charging stations as an amenity and this has displayed great success.