Earlier
this year on 25th of June, the current Government of India had announced
development of 500 cities under the Atal Mission for Rejuvenation and Urban
Transformation (AMRUT) plan for Smart India Mission. For the same, centre has
finally begun with efforts by clearing proposals worth Rs. 11,654 crore that
are aimed towards improving basic infrastructure and facilities in 272 cities
and towns, which include investments worth Rs. 3,120 crore in 102 cities and
towns.
“The much awaited infra upgrade plan for the country
is finally underway. Infrastructure in any region serves as the backbone for
its realty sector and this amount will allow the regions to develop a platform
for the realty sector. This will gradually help shape the future demand for housing
and office spaces thereby enhancing its prospects of being accepted by the
potential customers”, claims Mr. Ashok Gupta, CMD, Ajnara India Ltd. Adding to
view, Mr. Vivek Gupta, Director, Vardhman Estate & Developers (P) Ltd.
states “A strong foundation for the smart cities will be provided by AMRUT
plan. We can think about developing smart cities only when basics are in place.
Over 11 thousand crore have now been set aside for rejuvenation and urban
transformation of 272 cities and towns which will greatly upgrade the
infrastructure in those regions”.
The government has given a green signal for Rs. 438
crore investment in 18 cities identified in Haryana during the next fiscal
year. Likewise, 9 cities in Chhattisgarh would get Rs. 573 crore and a sum of Rs.
416 crore has been assigned for 12 cities in Telangana and Rs. 588 crore for 9
cities in Kerala. The largest chunk of funds is being earmarked for West Bengal
with a sum of Rs. 1,105 crore meant for 54 cities and towns across the state.
For the augmentation of civic infrastructure, the centre has also approved
investments worth about Rs. 2,386 crore towards water supply projects in 58
cities, Rs. 495 crore for sewerage projects in 17 cities, Rs. 106 crore for
storm water drains in 9 cities, Rs. 61 crore for urban transport in 9 cities
and Rs. 72 crore for development of parks and green spaces in 102 cities during
this financial year. The centre and the state governments will together invest
about Rs. 11,654 crore to make available 135 litres of clean drinking water per
person each day and provide sewerage linkages in all the 272 cities.
“Understanding the direct co-relation between infrastructure and demand in
realty sector, the Central Government has given complete freedom and
flexibility to State Governments to design and execute basic infrastructure
facilities. For all the projects approved, the government will contribute 50
percent of the funds with an equivalent amount to be organized by the states
themselves. This revamp of infrastructure in 272 cities and towns will duly
fuel and introduce a fresh wave of realty demand in near future”, elucidates
Mr. Rajesh Goyal, Vice President CREDAI-Western U.P. & MD, RG Group.
“A perfect habitat is one where civic infrastructure
is in place along with proper sanitation, availability of urban transport,
sewerage disposal, water and electricity supply, etc. With AMRUT’s aim to
upgrade the infrastructure, it will be most crucial if realty sector is to
perform in Tier 2, 3 and 4 cities. The mission of Housing For All will also
gain a much needed boost once infrastructure in regions get corrected and
private developers also start picking pace”, enlightens Mr. Vikas Bhasin, MD,
Saya Group.
“The centre has identified 482 cities and towns,
each with a population of one lakh and above as AMRUT cities and Rs. 11,654
crore has been announced for upgradation of 272 cities and towns. This
upgradation will help these regions to fulfil the basic needs for real estate
to perform and succeed in the long run. The dream of Smart Cities and Housing
For All will finally get a go ahead with regions meeting the minimum standards
required, where private realty sector players will also play a vital role in
shaping those regions”, concludes Mr. Rakesh Yadav, Chairman, Antriksh India.
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