What Is Real Estate journey with smart cities? How Does It Going To Work?


Smart cities are the only road map left nowadays to tackle the population as well as pollution problem here in India. We can plan any area of city authority to be used for smart city initiative. Conservation and efficient use of energy is the major part of smart cities.



Smart city mission was launched by govt. in the year 2015 stating the prime focus will be on following

# Availability of housing for all.
# Amenities within walkable distance in order to reduce congestion, resource depletion and air pollution.
# Road n/w to provide a smooth flow of vehicles as well as take care of cyclist and pedestrians.
# Development of open spaces like playgrounds, park and community centres within the city in order to enhance the quality of life for residents.This will also reduce heating and the balance in nature will be maintained.
# To promote the city as per its main economic trend, it may be its health, education, local cuisine, arts and craft, culture, sports goods, hosiery etc.
# Making cities dependent on e-governance rather than depending too much on municipal offices. These cities will be equipped with e-groups in both government and private sectors.
# Housing societies will be making max use of apps in order to deal with all aspects of society living.


Now coming back to the million $ concern of "Real Estate boom because of smart city initiative"
Quality of life is going to improve undoubtedly as smart cities will work as a catalyst and real estate is also going to have a positive impact because of this. A number of job opportunities going to increase because of smart cities and this further will boost the economic development of urban centres. The living standard of residents will be going upwards as more and more jobs will be there because of the expansion of physical, information and communication infrastructure.





It is also assumed that in the making of smart cities combined effort of developers and private enterprises will be required undoubtedly. This duo will have to pool in terms of capital in order to create smart cities in India. Improved connectivity and infrastructure the main inclusion in the smart city initiative will be directly benefiting the office or commercial space market. Also, we can figure out a push in the demands of other commercial assets like shopping malls, service apartments and hotels. Under this smart city initiative as there is a plan for building more homes for lower and middle-income group, fresh demands for homes will be there and all this will be booming residential market here in smart Indian cities.RERA is already introduced by the government in order to take care of the customers interested in buying properties, as it is there to make the real estate transactions simpler and transparent. All this will control corruption and fair dealings in real estate.


Thanks,

Narendar Singh

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