In June 2015, Prime Minister Narendra Modi launched the Smart Cities Mission (SCM), which identified 100 cities that need infrastructure improvements as well as a clean, sustainable environment. Over 7,800 projects were supported through the Smart City Mission with the goal of facilitating economic growth and improving quality of life in selected cities.
Gone are the days when India’s progress was measured by only its metropolitan cities, their infrastructure and employment rate. Now, modern India is rewriting the past with a digital upgrade that not only promises to be more sustainable, impactful, connected and seamless but is also looking to set an example for the world through its tier2 and tier3 cities which are scripting the country’s future. Surat, Indore and several other Indian cities are following suit.
How Smart Cities caters to the expectations of homebuyers and investors
Increased focus on physical and mental well-being, community living, connectivity, access best in class amenities and absolute security are some of the top aspirations of modern day homebuyers and residential real estate investors today.
Some of the services that the smart cities are offering are:
- Futuristic infrastructure: Smart cities will enable smart traffic monitoring systems, well paved roads, green spaces, parks and gardens in the city besides green lighting residential projects that encourage township and community living thereby giving a comfortable living.
Furthermore, the best smart city in India offers you the opportunity to be a part of the nation’s illustrious journey and contribute to its growth:
- Use of renewable resources of energy: Increased installation of solar panels in the residential, commercial & government complexes, reduces energy waste in a big way. For ex Surat Municipal Corporation saves 65 Cr by generating electricity through renewable energy. The bills are also lighter on the pockets of residents, again boosting real estate sales.
- Topline AI technologies and futuristic amenities: Installation of decibel sensors, tracking of lone female residents on the road at night, intruder detection, vandalism and face recognition technology are powering high safe, smart and sustainable living.
- Sustainable waste management: Besides segregating dry and wet waste and disposing them through eco-friendly methods, smart cities are going a step further in deploying technology by using smart bins that are equipped with sensors to indicate when they have to be emptied and facilitate accordingly.
- Employment opportunities: When real estate is booming in smart cities, it is a recipe for creating more employment opportunities to meet the demand for talent in various sectors. It also attracts investment from international and domestic companies and other stakeholders, thus boosting the overall economic outlook of the country.
What does the future hold?
The future of real estate in smart cities definitely looks very promising. A study conducted by the Centre for Study of Science, Technology, and Policy (CSTEP) shows that there has been a significant reduction in greenhouse gas emissions with green technologies being deployed in smart cities. Also, increased usage of analytics like measuring air quality, predicting weather patterns, understanding what people want and need, exploring solutions for addressing issues can further enhance real estate prospects and boost a ‘smart’ way of entering the future. The Smart City Mission is aimed at providing better infrastructure, a clean and sustainable environment and a decent quality of life to the citizens through the implementation of smart solutions.
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Autor(en)/Author(s): C J Singh
Quelle/Source: Construction Week, 04.12.2023
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