Budget 2014 : Ponneri to become a Smart City
The Union Budget 2014 is set to manifest the financial potential of the country and to embark on a steady economic growth nationwide. Ponneri in Tamil Nadu has attained a fair amount of attention in the Budget to be developed into a smart city. Located north of Chennai, this satellite town has attracted not only the attention of the Indian government for further development but also many Japanese investors, primarily in the manufacturing sector. The main reason for the attention garnered from foreign investors is due to the strategical location of Ponneri. It is located close to Chennai metropolitan city as well as to Ennore port, renowned for both imports and exports.
Located in the proximity to the Guntur – Chennai highway and well-connected to other renowned roads, this town is easily accessible by road. It is also one of the stations of the Chennai suburban railway which connects the town to the interiors of the city. The focus on Ponneri is is also due to its strategic location along the Chennai – Bangalore industrial corridor. The town was expected to become a hub for business development since the proposal of the corridor. With a population of over 25,000 people and splattered with industries like Ponneri steel industry and Nelcast Limited, the locality is all set to become a smart city in ‘Modified’ India.
Currently, the city lacks good road connectivity within the town, which has be the bone of contention for the Japanese investors. However, this shortcoming is expected to be rectified soon. As for real estate in this area, it is expected that there would be robust demand for both land and residential units, both for buying as well as for rental. This is expected to produce a healthy number of job opportunities, thereby promoting the establishment of commercial pockets. This could lead to considerable immigration from Chennai to this soon-to-be smart city.
The Union Budget has received a hearty welcome from people of all walks of lives, investors, developers and politicians. This budget can be considered a start for steady economic development of the country. The development of Ponneri into a smart city will help in equitable distribution of urban growth.
