100 smart cities to come up
The smart cities are all that have been taken care of in the Budget, the FDIs and SEZs. The Budget has allocated an amount of Rs 7,060 crore for 100 smart cities. The prime minister of India, Narendra Modi wants to see 100 smart cities which will be a strong measure and will help India in tackling the growing urbanisation problems while reducing pressure on the other existing cities.
With such cities being constructed, employment will be mobilised, infrastructure will be developed and help in creating new real estate markets. Sanjay Dutt, the executive managing director of South Asia, Cushman and Wakefield believes that allocation of funds is definitely a step towards the right direction. But to be certain about the specific impact, we have to wait for the specific details on the locations, master plans as well as the development of supporting infrastructure facilities.
The building of 100 smart cities will definitely have a wide positive impact for the real estate business all across the different segments namely commercial, residential, hospitality and real estate. Smart cities in terms means a considerable demand of technology aided services; this in turn means that domestic IT/ITeS companies will benefit from this programme.
Source: Hindustan Times
7060 crore for 100 smart cities, Arun Jaitley, budgets and budgeting, macro economics, Narendra Modi Government, smart cities project, union budget 2014-15
