After the Union Cabinet has recently approved the proposal of Rupees 48,000 crore for the development of 100 Smart Cities in India, every state started shortlisting the potential cities that could be developed under Smart Cities Mission.
Smart Cities is the vision of Prime Minister Narendra Modi to make best use of technology, natural resources and available land for infrastructure development. Smart Cities will offer a clean and hygienic environment, adequate drinking water, electricity, waste disposal management, e-governance, better transport facilities and well-connected IT system. There will also be focus on providing better health facilities, modern infrastructure and safety and security to women in these cities.
While the Central Government has allocated Rupees 100 crore for each city every year for the duration of 5 years, the remaining money will come from private investment, state machinery and FDI. The government is planning to encourage people and real estate developers to invest in these Smart Cities for better returns and maximum capital appreciation.
Smart Cities are way forward to infrastructure development in second and third tier cities, and offer a lucrative opportunity to people who want to invest in the real estate sector. These cities will set a new benchmark of architectural excellence and make way for other towns and cities to accept similar development model for their growth.
Mr. Anil Mithas, Chairman & Managing Director at Unnati Fortune Group, the best real estate developer in Noida says, “The Indian real estate sector is experiencing the winds of change. With favorable economic environment and a stable government at the Centre, the industry is going to boost further and bring lots of optimism back into the real estate sector. With initiatives like ‘Make in India’ campaign, building of 100 smart cities, housing for all Indian citizens by 2022 and allowing FDI in infrastructure sector, the government is committed to transform the country into the next super power in terms of infrastructure in the years ahead.”
Smart Cities is the vision of Prime Minister Narendra Modi to make best use of technology, natural resources and available land for infrastructure development. Smart Cities will offer a clean and hygienic environment, adequate drinking water, electricity, waste disposal management, e-governance, better transport facilities and well-connected IT system. There will also be focus on providing better health facilities, modern infrastructure and safety and security to women in these cities.
While the Central Government has allocated Rupees 100 crore for each city every year for the duration of 5 years, the remaining money will come from private investment, state machinery and FDI. The government is planning to encourage people and real estate developers to invest in these Smart Cities for better returns and maximum capital appreciation.
Smart Cities are way forward to infrastructure development in second and third tier cities, and offer a lucrative opportunity to people who want to invest in the real estate sector. These cities will set a new benchmark of architectural excellence and make way for other towns and cities to accept similar development model for their growth.
Mr. Anil Mithas, Chairman & Managing Director at Unnati Fortune Group, the best real estate developer in Noida says, “The Indian real estate sector is experiencing the winds of change. With favorable economic environment and a stable government at the Centre, the industry is going to boost further and bring lots of optimism back into the real estate sector. With initiatives like ‘Make in India’ campaign, building of 100 smart cities, housing for all Indian citizens by 2022 and allowing FDI in infrastructure sector, the government is committed to transform the country into the next super power in terms of infrastructure in the years ahead.”