What will be the effect of the upcoming smart cities on the real estate of Punjab?

Joynestzrk, Chandigarh

7th February 2017

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Hi,
It seems to me a good topic for discussion. yes, policy decisions taken in recent years, particularly in 2016, have laid the foundation for a stronger real estate sector across the nation. These include the Smart City concept, Housing for All by 2022, tax reforms such as the Goods and Services Tax (GST), and implementation of sector specific laws to enforce transparency. The Real Estate Regulatory Act (RERA), the Benami Transaction Act, digitisation of land records, demonetisation of high-value currency notes are classic examples of the last category.

Sunil Panday, Patna

15th February 2017

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Hi Tushar,

The government has recently announced the project of developing smart cities in the country. A smart city is an urban region that will be highly advanced in all aspects. The infrastructure, real estate, communications, and market viability of the city will be better in comparison to others. This development is heavily based increasing technology and creating a larger network.

The introduction of smart cities means a new direction for real estate. There will be a boost in investment and a movement towards more advanced technologies.
One of the few companies that have already undertaken new and advanced measures in their projects is Sushma Buildtech. Their properties have several amenities like green areas, zen gardens, gymnasium, yoga and aerobics room, swimming pool, amphitheater, skating rink, tennis court, and club house. Out of the all the upcoming developers in the area they are following the highest standards of quality.

Joynestzrk, Chandigarh

15th February 2017

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Hi,
This will be the testing time for all the schemes that govt. have launched in the last 2 yrs. Success of these flagship programmes will depend on how states implement the work on the ground. Any fund crisis can have an opposite impact. According to government sources only Rs 4000 crore is likely to be earmarked for the smart-city project as against its requirement of around Rs 14000 crore. But definitely it will create employment opportunities and infra development in the city.

Tushar Sinha, Delhi-NCR

15th February 2017

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Yes, Smart City project in Chandigarh will open path for new employment opportunities, infrastructure development, residential & commercial development in the city of Ludhiana, Jalandhar and Amritsar. Soon, many developers will com up with lot's of residential and commercial project in those localities which will definitely boost the real estate projects in Punjab. People will start buying their new house and shops within those localities.

Sukhmeet S, Chandigarh

15th February 2017

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