Odisha State Govt will soon form a subsidiary to execute Smart City projects

Q: The state government of Odisha will soon form a special purpose vehicle (SPV) for effective implementation of different projects under the Smart City scheme.

sadhana,

4th February 2016

Real estate News in Bhubaneswar

bmc

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bhubaneswar development authority

bhubaneswar municipal corporation

special purpose vehicle

svp

smart city projects

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Replies (3)

Hi all,
I hear that the plot for the BTCD has been identified and faces Janpath Road on the east, Udyan Marg on the south, railway tracks on the west, and Maharishi College Road on the north. It houses key landmarks such as Ashoka Market, Master Canteen Chowk, Bhubaneswar Railway Station, Ram Mandir and Rajmahal Chowk.

V. Victor,

4th February 2016

Comment

Hi all,
As per the Bhubaneshwar Municipal Corporation, there are two major components of the Rs 4537.15-crore Smart City initiative. First, a 985-acre area of the city will be developed as a model to be reproduced and will be called the Bhubaneswar Town Centre District (BTCD). 2nd, there will be pan-city solutions like better urban mobility and waste management systems.

akhilesh pal,

4th February 2016

Comment

Hi Akhilesh,
Has the Bhubaneshwar Municipal Corporation finalized any projects under the Smart City scheme?

Aveek Paul,

4th February 2016

Well Aveek,
No, not yet. But the detailed project would be finalized after formation of the SPV.

akhilesh pal,

4th February 2016

Hi Sadhana,
The proposed SPV will be headed by the vice-chairman of the Bhubaneswar Development Authority (BDA), currently Krishan Kumar. For now, the Bhubaneswar Municipal Corporation (BMC), the state housing and urban development department and other government agencies will hold stake in the SPV. Later, private players will be attached.

Aveek Paul,

4th February 2016

Comment

Hi Aveek,
It is true. But at the same time, there will be a high-power steering committee, to be headed by chief secretary A P Padhi, to oversee the projects. A proposal regarding delegation of power to the SPV will be placed before the state cabinet. Once the SPV is formed, the state government will demand funds from the Centre to implement different projects.

V. Victor,

4th February 2016