How the smart city challenge will help Navi Mumbai’s real estate

Smart cities are the future of this country. The Government of India is taking some big steps to make this country more liveable for its people. In order for that to happen the infrastructure of the country needs to meet certain standards. And this is where smart cities come into the picture. A smart city will have several features that will aid the residents of that city to live a better life.

A smart city by definition should be a combination of infrastructure and technology that will help the people maintain a good standard of living. It is the meeting of physical infrastructure and digitalization. It could change the entire landscape of a city. Introduction of several efficient ways to get things done which could save a lot of time will be high on the agenda here.

Bureaucracy is mired in red tape but digitization of all the process that surround facets of our life that are touched by bureaucracy could make our day to day living easier and super-efficient. This is just one example of the smart part of the smart city and what it could do for us. There are many facets of our lives which could become far less complicated through this project.

The Indian government has kicked off the Smart Cities Challenge to ensure that the citizenry gets to improve their present standard of living. There are about 100 cities that are in the race to become smart. They were nominated by their respective state governments. After this the cities had to send proposals to the ministry of urban development. These are then evaluated by a panel constituted by the ministry and those that are chosen will be given funding to kick off the mission. The other cities are asked to make modifications to their proposals as per the recommendations given by the panel and come in for another round of evaluation. Around 33 cities have been chosen thus far.

One of the cities that had it proposal turned back was Navi Mumbai. The city has now made some minor modifications to it and is going into the next round of evaluation. If this region gets into the next round of the competition, it will well and truly be on par with Mumbai, this city’s well-known neighbour. As of now the city is doing well in terms of infrastructure etc but the smart city tag will help it attract more investments. Property prices will also soar once the region makes a successful bid.

There are many pockets here which are booming as far as real estate is concerned. One such micro market is Kharghar. Properties in Kharghar are selling like hot cakes. A 1 BHK in Kharghar is quite a good purchase from both end users and investors. Properties in Kharghar and other regions of Navi Mumbai stand to gain immensely in the coming days. If you are looking to buy a 1 BHK in Kharghar or any other part of the city do so quickly before the prices escalate.

Author Bio:

Reshma is a blogger and real estate enthusiast. She is based out of Navi Mumbai and writes about real estate trends for IndiaProperty.com