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A smart city is a technologically modern area that uses advanced electronic – voice activation methods and sensors to collect specific data. A smart city uses Information And Communication Technologies (ICT) to increase operational efficiency and improve the quality of government services and citizen welfare.
Smart cities optimize the city functions and drive economic growth while improving the quality of life for their citizens by using innovative technology and data analysis.
The characteristics of a smart city are:
- Technology-based infrastructure;
- High functioning public transportation system;
- Confident sense of urban planning and
A smart city is a city that uses technology (Artificial Intelligence (AI), Cloud Computing, Machine Learning (ML)) for its management and operations. In India, the Smart City Mission works under the Ministry of Housing and Urban Affairs, and the mission began in 2015.
A smart city was designed to provide basic facilities and good quality of life by using intelligent technologies. For the smart city mission, the Union Government gave INR 2 lakh crore funding; the mission was intended to reach out to a population of around 100 million.
Why has the government taken the initiative in building a smart city?
When science and technology keep getting better, the old industries are being replaced by new ones. It changes the way the people live in cities and becomes more important for cities to compete to grow economically.
According to the World Bank, a smart city is a well-connected city having high Internet access and has the potential to develop into a world-class city. According to the World Bank; the definition of a smart city is based on the five criteria:
1. Smart Transportation Systems
2. Resilient Waste Management Systems
3. Robust Electronic Information Systems
4. Fully Equipped Infrastructure
5. Smart City Infrastructure
Criteria based on which government ranks top 10 smart cities in India:
• Mineral resources
• Human behavioral change
• Daily commuting
• Climate changes
• Physical activity
• Light pollution
• Traffic congestion
• Corporations doing environmental conservation
• Running water supply
• Colorful buildings
• Cyber connectivity
• Uniform transport system
• Cooperative agriculture
• Electricity
• Zoo
• Internet
Why should we invest in Smart Cities?
Investment in real estate is not a bad idea, and that too in 2022, with the concept of emerging smart cities across the country and the courtesy of the Smart Cities Mission launched by the government of India. Along with the improved living standards, better sustainability, and technology-driven infrastructure, Smart cities are becoming residential, commercial, and trade hotspots in the future.
Reasons to invest in smart cities:
• Superb Connectivity : Smart cities are built along prominent national highways and feature end-to-end metro railway systems and elaborate bus and cab networks.
• Low-Interest Rates : To overcome the pandemic’s economic slowdown, the RBI issued a reduction in REPO rates. Due to this, home loan interest rates in India have been at an all-time low, making it an ideal year for residential investment in a smart city.
• Safety and Security : Smart cities feature technology like iot, Wi-Fi, and real-time surveillance cameras to increase incident response times and improve resident safety.
• Employment Opportunities : Smart cities will have excellent connectivity and low property prices. Due to this, many MNCs and manufacturing giants will set up their campus in smart cities. In the future, these cities will gradually establish themselves as commercial hubs.
We can say that whether you’re planning on living in the house or looking for a rental source, investing in a smart city will be a wise choice.
Start living smart today!
According to the government top 10 smart cities to invest in a plot in India are:
1. Ahmedabad
• One of India’s Top 8 Metro cities.
• A city with inexpensive luxury and an increasing IT and enterprise hubs footprint.
• It has been recognized as a UNESCO world heritage city.
• The city’s urban development includes historical “Pol” communities and homes and new-age high-rise buildings and skyscrapers.
• Most prime destinations for plot investment in Ahmedabad are:
o Sanand
o Paramdham Society
o Rancharda
o Sanand-Nalsarovar Road
o Vansajada Dhedia
o Dholera Road
o Nalsarovar
o Bavla
o Kolat
o Rethal
2. Bhubaneswar
• The city with the most rapidly rising IT centers in the east of India.
• The city’s most influential future real estate Industrial areas are The Kalinga Nagar and Paradip SEZ.
• Infocity SEZ at Chandaka is the prime employment hub of the city.
• Most prime destinations for plot investment in Bhubaneswar are:
o Sailashree Vihar
o Neeladri Vihar
o Chandrashekharpur
o Patia
o Prasanti Vihar
o Pitapalli
o Jatni
o Kuha
o Lingipur
o Tamando
o Kalinga Nagar
o Ranga Bazar
o Sundarpada
o Patrapada
o Nayapalli
o Khandagiri
o Saheed Nagar
3. Coimbatore / Manchester of South India
• A city is known for its textile and spinning industries.
• It is the second-largest city in Tamil Nadu.
• The city has a robust social infrastructure, transit infrastructure, and employment prospects.
• Most prime destinations for plot investment in Coimbatore are:
o Avinashi Road
o Trichy Road
o Saravanampatty
o Vadavalli
4. Hyderabad
• The city with a rising destination for IT and commerce.
• The city’s genuine worth of real estate has increased in factors, including good transport access and connectivity to the city’s business hubs.
• It has been recognized as market-driven by end-users, and thus Hyderabad is one of India’s greatest plot investors.
• Most prime destinations for plot investment in Hyderabad are:
o Hyderabad Airport Corridor
o Hyderabad – Nagpur IT Corridor
o Pharma City Corridor
o Aerospace Corridor
o CBD and Financial Corridor
o Warangal Highway Corridor
o Genome Valley Biotech Corridor
o Patancheru Industrial Corridor
5. Indore
• Indore is India’s one of the most well-known and rapidly developing cities.
• The city has abundant land, and investor demand primarily determines prices.
• Most prime destinations for plot investment in Indore are:
o Super Corridor
o Airport Road
o MR 10
o Premium Hatod
o Park Colony
o Scheme No 136
o Scheme No 78
o Ujjain Road
o Sanwer Road
o Sheetal Nagar
o Alok Nagar
o Chhawni
o Anand Nagar
o Palda
o Khandwa Road
o Bicholi Mardana
6. Kochi
• The city has many new IT firms and is Kerala’s business hub.
• Initiatives such as international airport privatization and seaport improvement have shone the city’s real estate potential.
• Critical projects in Kochi which are at various stages of implementation are:
o Growth corridors of various SEZ
o Industrial areas
o Malabar coastal economic zone (CEZ)
o Cochin port
o IT parks
Most prime destinations for plot investment in Kochi are:
o Thrikkakara
o Kangarappady
o Vazhakkala
o Kakkanad
o Angamali
7. Pune
• Largest IT centers in India.
• The city has steered the demand for residential properties in Pune through IT advancements and enhancing connectivity and public transport.
• Most prime destinations for plot investment in Pune are:
o Near IT/ITeS Parks and industrial areas
o Airport Road
o Hadapsar
o Kondhwa-Wanwadi
o Paud Road
o Baner
o Dhayari-Narhe-Ambegaon BK
o Wakad
o Dhanori-Lohegaon
o Pimple Saudagar
o Wagholi
8. Nagpur
• Maharashtra’s third-largest city.
• The city is famous due to its excellent social and retail infrastructure, employment opportunities.
• Most prime destinations for plot investment in Nagpur are:
o IT parks in the SEZ region covering 150 acres
o Shree Nagar
o Abhay Nagar
o Wardha
o Butibori
o Kaldongri
o Gatadpanjari Vela Hari Road
9. Lucknow
• City where the real estate sector has exploded in the last decade.
• The city already has a functioning metro system that connects the city’s major intersections.
• Most prime destinations for plot investment in Lucknow are:
o Kanpur Road
o Amausi
o Golden City
o Shivaji Puram
o Deva Road
o Satrikh Road
o Kishan Path
o Sushanth Golf City
o Sadrauna
o Nilmatha
o New Jail Road
o Raibareli Road
10. Visakhapatnam/Vizag
• One of India’s largest ports.
• The city’s attractiveness has grown due to its robust social and retail infrastructure.
• Most prime destinations for plot investment in Visakhapatnam are:
o Madhurawada
o Rushikonda
o Duvvada
o MVP Colony
o Bhogapuram
o Bheemili
o Gajuwaka
o Pendurthi Road
o Murli Nagar
Benefits of investment in plots in Smart cities
India has seen rapid growth and development around smart cities after launching the smart cities mission. The idea of building Smart cities was to transform and develop cities with urban centers and class-apart infrastructure by using the best technology, architectural planning, and sustainability.
How are smart cities becoming the best fit for Property Investors?
The intelligent and development-oriented approach for cities has increased the interest in the real estate market.
During the past year, the spike in investment, planning, and development has proven the smart cities mission to be the most significant driver for the growth of the real estate and infrastructure industry.
Some of the reasons for property investors to invest in smart cities are:
• Blossoming Real Estate Markets: Smart cities’ mission has opened doors to infinite possibilities and avenues, thus increasing property prices.
• Driven by Technology: Smart cities are technology-driven and seek to provide a world full of resources in itself.
• Infrastructural Evolution: An excellent infrastructure forms the foundation of any smart city, and keeping that in mind, the government has invested heavily in it. These developments can be seen in the towns of Jaipur, Bhubaneswar, Chennai, Lucknow.
• Improved Access to Amenities and Facilities: Smart cities provide their residents with everything- from civic amenities to luxuries- making them a premium choice for homeowners. These cities offer ease of access to facilities like tennis courts, football grounds, golf courses, pools, etc.
• Better Traffic Flow: Intelligent traffic lights can improve congestion and traffic flow. Smart technology can also alert residents to use public transit during off-hours.
So, we can say that due to the developments in the recent past, the Smart cities project is providing an excellent opportunity for property investors to invest in smart cities, further creating a sustainable future for all.
