India's 100 smart cities project, a treasure for modern realtors

Real Estate Times • 11 September 2014
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The ministry of urban development has prepared a draft concept note on the smart city scheme. Government had announced a plan to develop 100 smart cities to provide better amenities in urban areas. The 100 smart cities will include all state capitals and union territories. It will also comprise 44 cities in the population range of 1-4 million people, nine satellite cities with a population of 4 million or more, 10 cities that are of religious and tourist importance and 20 cities in the 0.5 to 1 million population range.

The Delhi Development Authority (DDA) will develop a smart city through a land pooling scheme as a demonstrative city. The New Delhi Municipal Corp. (NDMC) area is also being considered to demonstrate components of a smart city. Smart cities aim to provide reliable utility services, sanitation, solid waste management, storm water drainage, energy efficiency and improved access to information. The high-power expert committee on investment estimates that the annual fund requirement for smart cities will be Rs.35,000 crore. This estimate covers water supply, sewerage, sanitation and transport-related infrastructure. A large part of the funds will come from private investments. According to the scheme, this amount shall be covered by complete private investment or through public-private partnership.

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Delhi Infrastructure