Real Estate Expert's

Real Estate Expert’s Comments on New Smart Cities

National Real Estate Development Council (NAREDCO) lauded the Central government’s announcement of 27 additional cities from 12 states. Inclusion of cities like Agra, Amritsar, Ujjain, Varanasi, Tirupati & Vellore etc will boost the tourism sector as well as bringing up these cities on global tourism map. He further told that the much awaited concept of smart cities would lead to well planned urbanization with aesthetic beauty comparable to international standards.

Mr Jain said that NAREDCO, the apex body of builders and developers, sees immense opportunities for the real estate industry in transforming the cities likes  Agra, Ajmer, Amritsar, Aurangabad, Gwalior, Hubli-Dharwad, Jalandhar, Kalyan-Dombiwali, Kanpur, Kohima, Kota, Madurai, Mangaluru, Nagpur, Namchi, Nashik, Rourkela, Salem, Shivamogga, Thane, Thanjavur, Tirupati, Tumakuru, Ujjain, Vadodara, Varanasi, Vellore into smart cities.

Parveen Jain President NAREDCO

“The advent of smart cities will be of tremendous significance for the home buyers. As cities build world class infrastructure and open communication and digitize management, people will find it easier to invest. Also speed of developement will reduce congestion in city centers and improve standards of living”.

Manish Sinha, Head Quikr Homes

“The Smart City Challenge continues to generate significant enthusiasm throughout the country. With the addition of these 27 cities, a total of 60 cities are now eligible for funding under the programme. The high interest and participation levels in the Smart City plan development phase now needs to be sustained through quick implementation on the ground. Cities which are able to prioritize their implementation initiatives by identifying quick wins, adopt relevant best practices and leverage expertise available in the external eco-system are expected to be the real winners going forward.

“The Smart City programme has already brought in an extent of standardization in city level planning. For example, smart solutions around traffic management, solid waste and municipal services like trade licenses, payments, grievances etc. feature in most of the approved Smart City plans. With quick implementation being the need of the hour, it remains to be seen whether MoUD comes up with some sort of a common support mechanism for select interventions to fast track implementation. Such sharable common platforms (for example cloud based solutions) may be particularly suited for Information and communication technology (ICT) related initiatives and help cut down on implementation time, optimize one time investments and also overcome existing capacity constraints in Government.”

Arindam Guha, Senior Director, Deloitte in India.

 

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