Kochi Smart City, GIFT offer good scope for price appreciation
Just like Smartphone have changed the world of telecommunication and the way people connected with each other; Smart Cities are going to offer a game changing scenario for the real estate sector. With the Narendra Modi led government announcing its plans to build over 100 smart cities, some projects have already taken a lead becoming the first ones to adopt the Smart City concepts in principle. Some of the well known projects that have embraced to be Smart projects include the Kochi Smart City, Gujarat International Finance Tec-City (GIFT) in Ahmedabad, Naya Raipur in Chhattishgarh and Wave Infratech’s 4,500-acre smart city near New Delhi.
The essential features of Smart cities include the interlinking of all essential factors using Smart concepts and modern day technology. Each significant factor including infrastructure and amenities such as water, sanitation, public safety, education and even health care would make use of the state of the art technology leading to maximizing their usage with minimum energy footprint. From use of smart grids to smart lighting to water and waste recycling, Smart Cities would be using technology to minimize wastage of any resources.
Smart cities with all their innovative features are wonderful investment option property investors. According to Sumit Jain, the co-founder & CEO, commonfloor.com, places such as Kochi Smart City and Gift offer substantial scope for price appreciation. On the downside however since most of these projects are in the implementation stage, investors must have a long term investment prospective allowing Smart City projects to fulfill their potential in the coming years. Kochi Smart City has put life in the region’s dull real estate market says Sumit highlighting the significant changes one Smart City project can bring to a city’s real estate market. GIFT, currently under construction, has not only attracted investors galore but has also had a considerable impact on prices in adjoining areas. A realistic 10-15% annual price rise is what most investors should keep in mind while investing in Smart city projects while long term investors can hope to achieve much higher returns.
Source: Technews
Gujarat Gujarat International Finance Tec-City, Kochi Smart city, Smart cities, Smart city project, Smart City township, Sumit Jain
