Increasingly India has been using the term Smart City; last year the declaration of developing 98 smart cities in India first created the buzz and now the announcement of the 20 cities who won the smart city challenge. With Bhubaneswar topping the list there are other 19 cities who are gearing up to become the #firstSmartCity in the history of India. The basic concept behind the advent of smart city is the use of smarter technology like predictive analytics based on cognitive computing to improve efficiency and create better quality of life.
Sustainable growth and development is the chief driver behind the concept of smart city. The demand and supply equilibrium here strikes a perfect balance for the greater good of its denizens, the state economy and the environment. Such a city guarantees sustainable real estate facilities where one is promised the core infrastructure like adequate water supply, assured electricity supply, easy urban mobility, affordable houses, uninterrupted connectivity, e-Governance, sustainable environment and health, hygiene and education.
A smart city is a networked society where the #IOT (Internet of Things) platform will play the pivotal role to provide smart solutions to the problems of our daily life on a real-time basis. Encouraging the cultivation of renewable sources of energy, proper waste management and recycling along with the development and integration of #SmartMeters will help to ensure adequate supply of power and water. Urban mobility is a great challenge with the ever-increasing population and the increasing number of vehicles.
Integration of multi-modal vehicles, connected car, intelligent traffic management will help in countering traffic management issues. The government here intends to provide real time grievance redressal through its e-governance portals or other social networking sites. In such utopian city where living reaches perfection the real estate sector is sure to receive a boom. Investing in real estate in such cities is a good option as the potential of price appreciation here is very high. The smart cities are indeed a smart edge to be added to the real estate sector.
Published at indiaopines blog