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Depopulate densely populated areas by collectively buying out strategic real estate

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Darko Savic
Darko Savic Sep 22, 2021
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Area beautification funds that use the inhabitants pooled resources to buy out local real estate and transform it into beautiful shared communal areas.

Why?

Some areas are crammed full of buildings to the point where there are no public spaces left for inhabitants to enjoy. Such areas gradually become optimized for just one purpose (be it living, industry, shopping) while neglecting everything else. This diminished the feel-good vibe of an area.

The solution

As a consequence of destroying an area with overpopulation, the local real estate units become less desirable and often change hands when people strive to move somewhere nicer. The prices are such that a typical local inhabitant can afford a single unit of real estate.

The solution is to create an initiative, an "area beautifying fund" to which people contribute money on a monthly basis. The fund aims to buy out local real estate on strategic positions and convert it to public spaces that all inhabitants can enjoy.

People could vote on project proposals to prioritize what the fund goes for first. Even in a ghetto apartment building, people could buy out units where gangs hang out and turn them into daycare centers for their children. When the fund manages to buy out all apartments, a building could be demolished and turned into a park.

In time, such areas would be reshaped to maximize the quality of life and the feel-good vibe.
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Shubhankar Kulkarni
Shubhankar Kulkarni2 months ago
Lovely! Most apartments or housing complexes in India are registered corporations or societies that have their bank accounts and legal presence. These societies gather mandatory funds (mostly yearly) from the inhabitants and spend them on maintenance and sometimes in development and beautification. Although the societies indulging in beautification are rare, they could, as you mentioned, buy or rent nearby real estate for the community. Renting seems like a more feasible option to me until more funds are available. Maybe the communal places could be free for the inhabitants who paid for it and charge a small fee for those who did not. This way, these places start generating income for sustainability.

Also, the government could get involved and provide loans (with lower interest rates or no interest) to buy such places.
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