The budget 2015-16 will include many schemes for the optimum development of smart city projects and high-speed trains. The finance ministry has started chalking out about the enclosure of new departments and set of fresh ministers for this vast project development. With the invention of internet world seems so smaller, now moving from the desktop arena word gets even concise after the arrival of smart phones. People don’t have to be in the log cue for paying bills/shopping/ chatting with buddies/ watch movies/ banking transactions, a single click can do the trick within a wink. Similarly some revolutionary idea needs to be born for planning advanced cities with the emerging timetable. The Govt. has promised to display a showcase of neat and elegant city, for this purpose a section of budget of 2015-16 has been allotted. Within 2018, it is expected to meet with such 100 well-groomed technically equipped cities.
The Govt. has shown some positive moves in this matter, a few smart cities already have taken shape across the country. Kochi smart city, Gujrat International Finance Tech-City (GIFT) in Ahmedabad, Naya Rajpur in Chhattishgarh and Wave Infratech’s 4500 acre smart city near New Delhi are already included in this massive project. These projects are like exemplary models for the rest of the up-coming project. Now coming to the investment part, the common question is if cities will be planned in this manner coming to our city will the price of the residential flats in Kolkata be same as it’s now?
What is a smart city?
Smart cities are defined by extensive use of technology to make life easier and faster. Simultaneously the eco-logical balance shouldn’t be affected due to this execution of higher version of technology. These are supposed to be the way outs of making India free from old set of improper city planning and their poor maintenance. Not only technical strength can make a city smart. There has to be an adequate supply of water, electricity, sanitation, education, transport, public safety and medical facilities. Smart city project is all about handling these major deliverances technically for further efficiency. Specific parking area with smooth operating traffic service, smart framework, smart lighting, and efficient garbage management will fasten the success rate of this project. This smart city project was first brought in Barcelona during 2012. The city traffic management, lighting, remote watering and fountain project left the rest of the world awestruck.
About the Indian initiative and your question of investment
This initiative is the collaboration of Indian IT department and Housing & Broadcasting development. After setting astonishing examples in Kochi, Gujrat, Chhatishgarh and New Delhi experts have plans to set automated traffic signals, electricity and water metres for reduction of bills and control power wastage, buses will send notification of their arrival, mechanized sewage control, fibre optic connectivity, 24*7 panic alert CCTV supervision system. They are even planning to reuse 80% of garbage to regenerate power. Solar power is likely to be used in the space of electricity.
Smart cities can be really a bright option for the property investors. At the present real estate market of these cities are negotiable. But the mercury will go up within a few months based on the features and offerings. Experts suggest for long time investment rather than indulging any short term commitment, as these projects are in under development condition, let them flourish along with those big promises. No one can predict the future.