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Impact Of Smart Cities On Indian Real Estate
2
min read
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Smart cities hold key to real estate growth in India. With Central Government announcing mart Cities Mission', one thing is for sure that it is going to have a significant impact on Indian real estate. Coupled with green architecture and affordable housing, smart cities play a catalystsrole in giving an impetus to real estate in the country.
Smart cities improve quality of life and promote sustainable living in urban and semi-urban locations. More than one hundred smart cities have been identified in the county promising expansion of urban and semi-urban centers. With improved infrastructure, amenities and connectivity, these cities promote not only housing but other assets such as employment, office space, shopping malls, hotels, health centers, education institutions and service apartments and retail malls.
Smart cities offer a promising long turn solution for India real estate sector. Pradhan Mantri Awas Yojna ousing for Allhas expanded urban centers to Tier II and Tier III cities. Robust infrastructure development from metro to smaller towns result in better land appreciation. Connectivity of smart cities to economic, education, and transportation hubs help real estate activities usher in both commercial and residential sectors. Robust infrastructure activities in non-metro centers will expand real estate picture in India.
Smart cities look to ease out the pressure on metro cities. Creating job opportunities, better amenities, and high land availability, developers will also find investing in such cities to be profitable. With pressure eased off, real estate prices will become more favorable towards customers and also promote urbanization.
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Disclaimer: The information contained in this post is for general information purposes only. IIFL Home Finance Limited (including its associates and affiliates) ("the Company") assumes no liability or responsibility for any errors or omissions in the contents of this post and under no circumstances shall the Company be liable for any damage, loss, injury or disappointment, etc. suffered by any reader. All information in this post is provided "as is", with no guarantee of completeness, accuracy, timeliness, or of the results, etc. obtained from the use of this information, and without warranty of any kind, express or implied, including, but not limited to warranties of performance, merchantability, and fitness for a particular purpose. Given the changing nature of laws, rules, and regulations, there may be delays, omissions, or inaccuracies in the information contained in this post. The information on this post is provided with the understanding that the Company is not herein engaged in rendering legal, accounting, tax, or other professional advice and services. As such, it should not be used as a substitute for consultation with professional accounting, tax, legal or other competent advisers. This post may contain views and opinions which are those of the authors and do not necessarily reflect the official policy or position of any other agency or organization. This post may also contain links to external websites that are not provided or maintained by or in any way affiliated with the Company and the Company does not guarantee the accuracy, relevance, timeliness, or completeness of any information on these external websites. Any/ all (Home/ Loan Against Property/ Secured Business Loan/ Balance Transfer/ Home Improvement Loan/ NRI Home Loan/ Home Loan for Uniformed Services) loan product specifications and information that may be stated in this post are subject to change from time to time, readers are advised to reach out to the Company for current specifications of the said (Home/ Loan Against Property/ Secured Business Loan/ Balance Transfer/ Home Improvement Loan/ NRI Home Loan/ Home Loan for Uniformed Services) loan.
