Smart city plans to give boost to the real estate sector
The real estate developers hope that the move of creating 100 smart cities will help revive the sluggish housing market. Amid the indications that almost all the state capitals may be a part of the Union government’s 100 smart cities’ plan, the real estate developers are hoping that the list will be out soon.
Umesh Patnaik , the president of the Association for Odisha Real Estate Developers (AFORD) stated that as of now there is no clarity in the people’s mind as yet about the proposed smart cities. However any announcement to this effect would help change perceptions and revive the market.
Patnaik also stated that the main reason behind the slowdown in the market is because of the buyers’ apprehensions. And in a small city like Bhubaneshwar, the apprehensions go up manifolds. Due to reduced economic activities, the buyers do not want to take a risk. If the Centre announces that Bhubaneswar will be turned into a smart city, it will help overcome such anxieties.
Patnaik mentioned that the Finance minister Arun Jaitely had talked in the budget about the creation of 100 smart cities to ease the burden on metros. In the last few years Bhubaneshwar has become a chosen destination over Kolkata for the corporates to open their deliver centers. Infosys, Wipro, TCS, Tata Tele systems and many other MNCs have opened SEZs and STPIs in Bhubaneshwar.
Source- The Times of India
100 smart cities, AFORD, Bhubaneshwar, Infosys, Odisha Real Estate Developers, Tata Tele systems, TCS, Umesh Patnaik, Union government, Wipro
