Introduction
Launched in 2015, across 100 cities in India, the Smart City Initiative offers an exceptional living experience to home buyers with smart e-governance, better water and traffic management, and more.
India is one of the fastest-growing countries in the world, which is enhancing its development with each passing day. In the year 2015, the government introduced a Smart City Initiative, which has changed the face of most of the cities across the country. The initial target was to transform 100 cities; however, with the completion of their mission, the advancements are expected to grow in other places, too. The prime purpose of the smart city initiative lies in using the technology to advance the living standards of the residents. From garbage management to the development of real estate properties, both commercial and residential, a large number of cities have gained immense benefits. Likewise, the cities have been modified by the development of roads and metros. Such factors have certainly led the buyers and investors to seek these cities as a potential place for investment purposes.
This is the capital city of Odisha, which has emerged as the top smart cities in India that reflects development and fosters both economic and long-term growth. Bhubaneshwar is the leading smart city that implemented smart urban infrastructure with facilities like smart traffic lights, digital integration in municipal corporations, and advanced street lights. On the other hand, the city has earned recognition for its waste management. This smart city in India has personified what it's like to have a balance between technology, sustainability, and cultural heritage.
Finding a property in smart city of India and investing in one is one of the most calculated and strategic decisions that an investor could make. Considering the current scenario of development and urbanization of the cities, there are key features that make a smart city worth of investment. A few of them are mentioned below:
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Major Public Value: One of the prime motives of a smart city is to offer a comfortable lifestyle to its residents. In smart cities, the public is kept as a priority where public transport is easy, water and power shortages are kept under control, and access to basic services is always hassle-free.
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Higher Return On Investment: Indeed, this serves as the primary reason why investors are shifting their interest towards buying a property in a smart city. With less traffic congestion, reduced bills, and extra employment opportunities, the citizens are moving to smart cities to lead a peaceful life. Hence, the demand for properties and rentals is rising, in turn, ensuring a higher return on investment, as compared to the tier-1 cities.
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Better Data Security: Investing in a property in a new smart city in India will prove worthwhile as these cities follow strong cybersecurity practices and ensure the transparency of the investment data being used. With public interest as a priority, the investment procedure is smooth.
A top smart city in India is a perfect reflection of technology, sustainability, and people-centric government. Although this government initiative is working on the modernization of 100 cities, however, there are a few best ones that have changed the dynamics of the real estate. Henceforth, we’ve curated a list that illustrates the best smart city in India. Explore them now:
This is the capital city of Odisha, which has emerged as the top smart cities in India that reflects development and fosters both economic and long-term growth. Bhubaneshwar is the leading smart city that implemented smart urban infrastructure with facilities like smart traffic lights, digital integration in municipal corporations, and advanced street lights. On the other hand, the city has earned recognition for its waste management. This smart city in India has personified what it's like to have a balance between technology, sustainability, and cultural heritage.
One of the most happening cities of India, Pune is located in Maharashtra. This city is home to a rich Maratha heritage and some of the country’s best real estate developments. From seamless connectivity through metros and highways to the digitally run governance, Pune is definitely a place worth investing in. Some of the prominent areas that come under the smart city initiative include Baner, Wakad, Hadapsar, Airport Road, and more.
This is the business capital of Madhya Pradesh, where this city has consecutively won immense recognitions for its cleanliness and sustainable management. This city fosters smart education, and the effective traffic management makes it even more livable. Other than this, the uninterrupted water and power availability and shorter distances make it an ideal city for investment purposes.
Nestled in Gujarat, one of the most prominent reasons for investing in this city lies in its advanced security systems and elevated industrial growth. From top-notch infrastructures to integrated command centres and digital healthcare services, Ahmedabad is way ahead of other cities in the state and is one of the top choices where citizens are heading to relocate.
This smart city in India is rich in culture, heritage, and tourism. Also, in recent years, the city has witnessed exceptional development in terms of connectivity, infrastructure, digital services, and more. The city’s smart traffic management and technology-driven waste management have made it highly advanced. Likewise, the city is very clean, and the shortage of water and power supply is less likely to ever happen. The city is well-managed and maintained.
Located in Tamil Nadu, the southern state of India, this city is bestowed with rich culture and heritage. Significantly, this city is one of the top smart cities in India as it excels in the areas of smart surveillance, energy and water conservation, and restoration. Similarly, the infrastructure development within the city has been an attraction for those who are seeking an investment.
This city is popular for its green spaces and smart mobility solutions. Chandigarh shares an excellent connectivity with other major tourist destinations and the roads are top-class. Additionally, the city is well managed by smart parking, solar energy production, and clean environment. In terms of sustainability, Chandigarh is certainly the one smart city in India that is enriched with massive citizen participation.
Situated in the state of Telangana, this is one of the most evolving cities in the country. Hyderabad is not only the IT corridor, but also is on the verge of becoming the first AI city of India. Under the smart city initiative, this city has witnessed immense developments in terms of safety, traffic management, infrastructure, and more. Likewise, the city is driven by digital governance. This innovation hub is definitely one where the employment opportunities are high, and the residential living standards are luxurious.
Yet another city in Gujarat, which is well-planned and has a quick disaster-response system. Surat is home to the best and highly advanced infrastructures, wherein the development has been driven by sustainability and technology. The city has an effective flood-control system and is the cleanest in Gujarat. Also, the drainage systems and sanitation management are done by smart sensors.
Situated in Kerala, Kochi is one smart city in India that blends urban lifestyle with heritage. Strong in culture, this place has witnessed an exceptional development in terms of sustainability and control centres. Kochi has been welcoming top corporate leaders to invest and offer employment opportunities for the residents. Also, the facilities like health centres, canal restorations, housing, waste management, and traffic management are well-planned and manageable.
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Whether a home buyer or an investor, smart cities are attracting many, as these cities are rapidly evolving and are being driven by technology. From digital solutions to economic growth, these cities are advancing and becoming a popular choice for investment in the country. Some of the advantages of smart cities in India are illustrated below for your consideration:
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Economic Growth: These digitally-driven smart cities are attracting major investments from the top corporates and multinational organizations. Henceforth, with the advancing developments, the smart cities are welcoming employment opportunities and growing rapidly in terms of economy.
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Modern Infrastructure: Smart cities, undoubtedly, are packed with new developed and upcoming infrastructures that are both urbanized and sustainable. The new developments are definitely what an investor eyes for. From robust infrastructure to exceptional architectural designs, these cities are worth investing in.
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Smart Traffic Management: Traffic management is one of the prime factors that make these cities stand out compared to the tier-1 cities. Better traffic management in smart cities leads to less traffic congestion and keeps the mobility smoother. With minimum traffic hurdles and reduced wastage of time, the smart cities are perfect for investment.
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Reliability: The quality of life in smart cities is highly reliable with effective e-governance facilities, better traffic management, digital healthcare facilities, and the finest waste management system. With low cost, the lifestyle in the smart cities is reliable and secure.
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Increased Property Value: In recent years, smart cities have become a centre of attraction for property buyers. With growing demand, the property value has certainly risen, and the return on investment is highly promising. With effective government policies and smart functioning of the governance, the investment risks are also low.
India is developing at a very fast pace, and the recent government initiatives like Smart City have definitely transformed and modernized some of the prominent cities of the country. From home buyers to investors, smart cities like Jaipur, Kochi, Ahmedabad, Indore, etc., have become a choice for investment purposes. These cities are well-equipped with digital governance, and the waste management is technologically driven. On the other hand, smart traffic management in these cities has eased the lifestyle of the residents. Henceforth, considering these advantages of a smart city in India, investing in one has become the most advantageous decision.
FAQs
Under the government smart city initiative, these cities are highly developed and welcome some of the most modern infrastructure. From being digitally driven to offering a peaceful lifestyle to its citizens, these cities have emerged as the best investment options with guaranteed and high returns on investment.
Although the smart city initiative aims at modernizing 100 cities in India, however, a few of them have emerged as the best ones. Some of them include Bhubaneshwar, Hyderabad, Indore, Pune, Ahmedabad, Kochi, Jaipur, and more.
Definitely. The smart cities are controlled under e-governance, which further ensures transparency in each of their processes. Henceforth, for those who are wondering whether to invest in real estate in the smart city of India, they can proceed without hesitation. The investment risks are minimal, and the returns on investment are very high.
The smart city initiative in India has urbanized the lifestyle and offers immense benefits in terms of better traffic management, employment opportunities, long-term stability, and improved infrastructure.
The government launched the smart city initiative in the year 2015, where it aimed to urbanize 100 cities in India. Now, at this moment, the developments are on the verge of completion, and government further aims to modernize other cities in India.
There is a lower risk in investment in smart cities as these are developed with smart technology and sustainability. The only risk that an investor may incur would be a delayed real estate project.
One of the prominent factors to consider while investing is location and growth potential. It is essential to consider the location that attracts development and growth, or is based in an area that holds rental potential.
For the beginners, it is recommended to invest in a real-estate property that are currently in their pre-launch mode. That’s when the risk is minimized.
