SMART VISION - Smart Cities are 100% octane for the economy!


SMART VISION - Smart Cities are 100% octane for the economy!


The Centre's list of 98 cities for development under the Smart Cities mission is being hailed by the real estate fraternity as a distributed model of development, which would open up new avenues for employment, development, and investment right from the district level in states to the overall economy of the nation
The announcement of the central government to develop 100 existing cities in the country as smart cities will go a long way in reviving the real estate sector, and the economy as a whole.

The plan will amount to an expenditure of around Rs 1,00,000 crore by the central and state governments in the next four years.

The NCR region will be hugely benefitted by this as cities like Ghaziabad and Faridabad have been included in the list of 98 cities--released by Union urban development minister Venkaiah Naidu on Thursday--to be developed under the 100 Smart Cities mission.

Some of the towns and cities on the list include: Port Blair, Vishakhapatnam, Tirupati, Kakinada, Pasighat, Guwahati, Muzaffarpur, Bhagalpur, Biharsharif, Chandigarh, Raipur, Bilaspur, Diu, Silvassa, Gandhinagar, Ahmedabad, Surat, Vadodara, Rajkot, Dahod, Karnal, Faridabad, Dharamshala, Kochi, Kavaratti, Bhopal, Indore, Jabalpur, Gwalior, Sagar, Satna, Ujjain, Imphal, Shillong, Aizawl, Kohima, Bhubanesh war, Raurkela, Oulgaret, etc.

This mission will open up huge investment opportunities for private players also. But, for this, the central and state governments will have to create an enabling environment.

Getamber Anand, president of Confederation of Real Estate Developers' Association of India (Credai), said: “It is a very positive initiative and we trust there will be a concrete action plan to make this ambition possible. The private sector is already well versed in making smart real estate developments, which boast of all the ingredients a smart city must have, and must certainly be coaxed into partnership with state governments to contribute in every way possible towards this initiative.“

Manoj Gaur, president of Credai-NCR, while congratulating the Centre for its vision said that the development of smart cities would unleash a new phase of infrastructural development in the country. The decision also reflects the intent of the NDA government towards nation-building and cleaner environment, Gaur said.

The central government push to enhance infrastructure capacity in electricity genera tion, telecommunication, IT, roads and rail connectivity, etc, will provide impetus for the development of smart cities.

Kushagr Ansal, director of Ansal Housing, said that smart cities would enhance the lifestyle of people, which will help in making them more efficient and effective and directly contribute to the growth of their regions.

Ankit Aggarwal, CMD of Devika Group, said that there is a ripple effect of growth in the neighbouring areas once a region witnesses independent growth. For instance, Ghaziabad as a smart city would promote the develop city would promote the development of Noida, Greater Noida, Yamuna Expressway, and other nearby regions, Aggarwal said.

However, the successful development of these smart cities would now hinge on the effective implementation and monitoring at the central and state level, said Anshuman Magazine, chairman and MD of CBRE South Asia Pvt Ltd. As the decision has been taken at the Cabinet level, stakeholders like developers and financiers say that there should not be any problem in securing approvals required for the implementation of the plan.

This will not only boost sentiments among builders and investors but also of those who will be greatly involved in ancillary development of smart cities. Providing low-cost financing and fast disbursals of fund for completion of the scheme will play one of the key roles in timely execution of the project, said Sachin Sandhir, Global MD (Emerging Business) of RICS.

 

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