Prime Minister launches smart city, housing and urban renewal schemes

Prime Minister launches smart city, housing and urban renewal schemes

Prime Minister launches smart city, housing and urban renewal schemes

Prime Minister Mr. Narendra Modi has launched three Mega flagship government schemes the Smart Cities mission, Pradhan Mantri Awas Yojana (PMAY) housing scheme, along with the Atal Mission for Rejuvenation and Urban Transformation (AMRUT). The government schemes that aims to offer better lifestyle to the people of India will see an expenditure of close to Rs 4 lakh crore of which Rs 48,000 crore will be spend on the development of Smart cities whereas Rs 50,000 crore will be spent on infrastructure upgrade for 500 cities. The Government also aims to create around 2 crore houses by the end 2022 by offering a central grant of Rs 1 lakh to Rs 2.3 lakh per house by way of a 6.5% interest subvention scheme.

The launch of smart cities mission was applauded by India real estate stakeholders as the smart cities will help in greater development of the country. Smart cities not only offers home but also promotes sustainable living in cities. The announcement of three mega flagship schemed brings cheers to real estate sector and MakaanIQ brings forward the sentiments of the realty industry.

Mr Deepak Kapoor, President CREDAI Western U.P. : "Approval to the smart cities and Atal Mission for Rejuvenation and Urban Transformation (AMRUT) will bring in a lot of development to the country. However, we would like the authorities to consider Noida and Greater Noida in the larger scheme of things as these two cities are near Delhi and have the potential to deliver successful smart city that will be happily lapped by the buyers/investors. The idea of smart cities is for the greater development of the country and will help us be counted as among the developed nations".

Prashant Tiwari, Chairman, Prateek Group: "We welcome the move by the PM and expect that implementation of this developmental idea will start soon. We are waiting for the clear guidelines behind this idea and expect that once the concept is clear to everyone the work will pick up pace. As it is based on PPP model, it is expected to get good result provided all the parties involved show good intent. And we believe because of the intensity of this programme, it will definitely turn out to be a good one for people, for economy and for country in general.”

Dhirender Gaba, MD Fairwealth Housing Pvt. Ltd.:” The Prime Minister Modi has made a major announcements today that the Govt. will investment an amount of Rupees 4000 crores, in the three key projects “Development of 100 Smart Cities”, “Housing to all 2022” and rejuvenation of 500 cities under “Atal Mission for Rejuvenation and Urban Transformation (AMRUT)” This has paved the way for the revival of the real estate sector in the country and this would certainly make our India Modern in the real sense in coming times. The aim of these key development projects is to enhance the standard of living of the country in true sense in terms of security, basic amenities, infrastructure and cleanliness. It also intends to empower women and the weaker sections of the society by fulfilling their dream of owning a house with the mission of Housing to all by 2022. Monitoring huge cities through central data monitoring system, passages to the Buildings from Metro Stations, Modern Bus Transport System, Metro and Bullet Trains in all major cities, emergency situation control through e-monitoring system may today look like a big dream, but if we dedicate ourselves to this wonderful vision of Mr. Modi, then making India the best place in the world for living is not impossible at all. We are really enthusiastic and hopeful to see this happening with the healthy participation and communion between the govt. bodies and private developers and infrastructural companies. This will set the country to the new path of development, expansion and progress.“

Mr R.K Arora, Chairman, Supertech: , The government’s decision to safeguard the right of citizens is considered to be a positive step for developing Nation like India. Proposal to launch three mega flagship schemes and building smart cities will help transforming urban India. It’s a welcome opportunity for the private companies to work in partnership with government under PPP model to attain government aim of Housing for All by 2022. Constructing two crore houses is a welcoming challenge for developer community as the prime importance is to overcome the shortage of houses for the common man. Building Smart cities not only provides shelter but also promotes clean and sustainable environment around towns and cities."

Last Updated: Thu Aug 13 2015

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