Chennai and Coimbatore are in the Smart Cities list

Mission a safe bet, Urban Development Minister Venkaiah Naidu assures investors.

Urban Development Minister Venkaiah Naidu on Thursday urged local and international investors to put their money on the Smart City Mission, assuring them that it was a safe bet.

Mr. Naidu unveiled a list of 98 cities with Uttar Pradesh taking the largest share of developing 13 smart cities followed by Tamil Nadu, which qualified to develop 12.

“Both national and international investors are looking for opportunities in the backdrop of the recent financial crisis,” said Mr. Naidu. “People are searching for safe investments. I offer smart cities as the safest investment because land is going to be there, structures are going to be there, so the returns are assured.”

With an aim to achieve “inclusive growth”, the Smart City Mission promotes integrated city planning, where the government’s policies such as Swachh Bharat Mission and Atal Mission for Rejuvenation and Urban Transformation complement each other.

Of the 98 cities and towns that five years down will graduate into smart cities, 24 are capital cities, another 24 are business and industrial centres, 18 are culture and tourism influenced areas, five are port cities and three are education and health care hubs.

The missed ones

Nine cities, Bengaluru, Kolkata, Shimla, Puducherry, Daman, Patna, Itanagar, Thiruvananthapuram and Gangtok did not qualify for being a smart city. “This non-inclusion goes to prove that the selection in the first stage of competition was not swayed by the status or importance of the cities and the selection was objective and as per the stipulated criteria,” Mr. Naidu said.

Mr. Naidu said the Urban Development Ministry would provide Rs. 100 crore to each city over the next five years.

The success of the government’s Smart City Mission is largely dependent upon the finance generation at the State-level as well as private investments. The Centre has set aside Rs. 48,000 crore for the mission and the money will be released to urban local bodies at frequent intervals in the next five years. The Centre has asked the State governments to generate the rest of the Rs. 48,000 crore as the grand total of the mission is estimated at Rs. 96,000 crore.

Full list of Smart Cities

Sl.No. Name of State/UT No. of citiesshortlisted Names of selected cities Population of Cities
1. Andaman & Nicobar Islands 1 Port Blair 1,40,572
2. Andhra Pradesh 3 1. Vishakhapatnam/ 2. Tirupati/ 3. Kakinada 1.18,78,980/ 2. 3,74,260/ 3. 3,50,968/
3. Arunachal Pradesh 1 Pasighat 26,656
4. Assam 1 Guwahati 9,62,334
5. Bihar 3 1. Muzaffarpur/ 2. Bhagalpur/ 3. Biharsharif 1. 3,93,724/ 2. 4,10,210/ 3. 2,96,889
6. Chandigarh 1 Chandigarh 10,55,450
7. Chhattisgarh 2 1. Raipur/ 2. Bilaspur 1. 10,47,389/ 2. 3,65,579
8. Daman and Diu 1 Diu 23,991
9. Dadra and Nagar Haveli 1 Silvassa 98,032
10. Delhi 1 New Delhi Muncipal Council 2,49,998
11. Goa 1 Panaji 1,00,000
12. Gujarat 6 1. Gandhinagar/ 2. Ahmedabad/ 3. Surat/ 4. Vadodara/ 5. Rajkot/ 6. Dahod 1. 2,92,797/ 2. 55,77,940/ 3. 44,67,797/ 4. 17,52,371/ 5. 13,23,363/ 6. 1,30,530
13. Haryana 2 1. Karnal/ 2. Faridabad 1. 3,02,140/ 2. 14,14,050
14. Himachal Pradesh 1 Dharamshala 22,580
15. Jharkhand 1 Ranchi 10,73,427
16. Karnataka 6 1. Mangaluru/ 2. Belagavi/ 3. Shivamogga/ 4. Hubbali – Dharwad/ 5. Tumakuru/ 6. Davanagere 1. 4,84,785/ 2. 4,88,292/ 3. 3,22,428/ 4. 9,43,857/ 5. 3,05,821/ 6. 4,35,128
17. Kerala 1 Kochi 6,01,574
18. Lakshwadweep 1 Kavaratti 11,210
19. Madhya Pradesh 7 1. Bhopal/ 2. Indore/ 3. Jabalpul/ 4. Gwalior/ 5. Sagar/ 6. Satna/ 7. Ujjain 1. 19,22,130/ 2. 21,95,274/ 3. 12,16,445/ 4. 11,59,032/ 5. 2,73,296/ 6. 2,80,222/ 7. 5,15,215
20. Maharashtra 10. 1. Navi Mumbai/ 2. Nashik/ 3. Thane/ 4. Greater Mumbai/ 5. Amravati/ 6. Solapur/ 7. Nagpur/ 8. Kalyan-Dombivilli/ 9. Aurangabad/ 10. Pune 1. 11, 19, 000/ 2. 14,86,000/ 3. 18,41,000/ 4. 1,24,00,000/ 5. 7,45,000/ 6. 9,52,000/ 7. 24,60,000/ 8. 15,18,000/ 9. 11,65,000/ 10. 31,24,000/
21. Manipur 1 Imphal 2,68,243
22. Meghalaya 1 Shillion 3,54,325
23. Mizoram 1 Aizwal 2,91,000
24. Nagaland 1 Kohima 1,07,000
25. Odisha 2 1. Bhubaneshwar/ 2. Raurkela 1. 8,40,834/
26. Puducherry 1 Oulgaret 3.00,104
27. Punjab 3 1. Ludhiana/ 2. Jalandhar/ 3. Amritsar 1. 16,18,874/ 2. 8,68,181/ 3. 11,55,664
28. Rajasthan 4 1. Jaipur/ 2. Udaipur/ 3. Kota/ 4. Ajmer 1. 30,73,350/ 2. 4,75,150 3. 10,01,365/ 4. 5,51,360
29. Sikkim 1 Namchi 12,190
30. Tamil Nadu 12 1. Tiruchurapalli/ 2. Tirunelveli/ 3. Dindigul/ 4. Thanjavur/ 5. Tiruppur/ 6. Salem/ 7. Vellore/ 8. Coimbatore/ 9. Madurai/ 10. Erode/ 11. Thoothukudi/ 12. Chennai 1. 9,19,974/ 2. 4,74,838/ 3. 2,07,327/ 4. 2,22,943/ 5. 8,77,778/ 6. 8,31,038/ 7. 5,04,079/ 8. 16,01,438/ 9. 15,61,129/ 10. 4,98,129/ 11. 3,70,896/ 12. 67,27,000
31. Telangana 2 1. Greater Hyderabad 2. Greater Warangal 1. 67,31,790/ 2. 8,19,406
32. Tripura 1 Agartala 4,00,004
33. Uttar Pradesh** 12 1. Moradabad/ 2. Aligarh/ 3. Shaharanpur/ 4. Bareilly/ 5. Jhansi/ 6. Kanpur/ 7. Allahabad/ 8. Lucknow/ 9. Varanasi/ 10. Ghaziabad/ 11. Agra/ 12. Rampur 1. 8,87,871/ 2. 8,74,408/ 3. 7,05,478/ 4. 9,03,668/ 5. 5,05,693/ 6. 27,65,348/ 7. 11,12,544/ 8. 28,17,105/ 9. 11,98,491/ 10. 16,48,643/ 11. 15,85,704/ 12. 3,35,313
34. Uttarakhand 1 Dehradun 5,83,971
35. West Bengal 4 1. New Town Kolkata/ 2. Bidhannagar/ 3. Duragapur/ 4. Haldia 1. 36,541/ 2. 6,33,704/ 3. 5,71,000/ 4. 2,72,000

*Jammu and Kashmir has asked for more time to decide on the potential Smart City.

** 12 cities have been shortlisted from Uttar Pradesh against 13 cities allocated to the State.

Source: The Hindu

More sea facing homes coming up in Chennai

Chennai’s Ministry of Environment and Forests have amended coastal regulation zone guidelines. The approval has allowed the development of high-rise buildings within 500 meters of high tide area. If you are planning on making an investment and interested on homes with sea view then you will get a variety of options soon.

The amended regulation zones will impact other cities such as Vishakhapatnam, Surat, Mangaluru and Puducherry. However, Chennai will be the most impacted in terms of demand and supply in the long run.

“The amended coastal regulation guidelines along the coast may benefit in the long term from relaxed development control regulations and floor space ratio norms. Any immediate impact on supply may not be visible as these submarkets have sizeable inventories to meet current demand levels,” says Sanjay Dutt, executive managing director, South Asia, Cushman & Wakefield.

Localities that would get impacted because of the changes in the CRZ-II norms are Besant Nagar and stretches on the East Coast Road (ECR) such as Kanathur and beyond Muttukadu.

What is Coastal Regulation Zone?The coastal land, up to 500m from the High Tide Line (HTL) and a stage of 100m along banks of creeks, estuaries, backwater and rivers subject to tidal fluctuations, is called the Coastal Regulation Zone(CRZ).

As per Magicbricks data, currently these localities offer properties in various budget range. Besant Nagar offers apartments, independent houses and few plots in budget of Rs 90 lakh- Rs 3 crore. Similarly, East Coast Road stretch offers over 50 projects comprising of apartments, villas and plots in the range of Rs 4 lakh- Rs 22 crore.

“The notified changes in norms may propel developers to plan high-rises in these localities which have traditionally been known for low-rise developments such as independent bungalows, villas and low-rise apartment projects,” says Dutt.

Investment prospects for high rise apartments

Unlike common perception, buyers in Chennai are interested in apartments. The second-generation is warming up to living in such buildings. Evolving gentry, the increase in income level and the IT cosmopolitan population are some reasons behind the change housing demand. Increasing cost of lands and lack of security in independent housing options are also some reasons for the increasing preference of apartments.

What is Coastal Regulation Zone-II?The areas that have already been developed up to or close to the shoreline lie within this zone. For this purpose, “developed area” is referred to as the area within municipal limits or in other legally designated urban areas which is already substantially built up and which has been provided with drainage and approach roads and other infrastructural facilities, such as water supply and sewerage mains.

“Guindy, K.K. Nagar, Rajiv Gandhi Salai, Adyar to name a few are witnessing increase in demand for high-rise apartment projects by reputed builders which are closer to their work places and offer amenities and open spaces,” adds Dutt.

However, the infrastructure for high-rise buildings remain limited. Availability of 24×7 power supply, water and other facilities are the crucial parameters influencing demand for high rises.

Considering the changes in the landscape that the realty industry is anticipating, it would be interesting to watch whether Chennai will continue to show its inclination towards independent housing or embrace Mumbai’s love for high-rises.

Source: Times of India / Surbhi Gupta Magicbricks

Information source: Ministry of Environment & Forests