Smart cities progress to hinge on five elements
A successful development of proposed smart cities will depend on five critical elements such as power, infrastructure, funds, technology and social capital, property consultant Cushman & Wakefield said. The Centre plans to develop 100 smart cities as satellite towns of larger cities and by modernising the existing mid-sized ones. In the Budget last year, Finance Minister Arun Jaitley had allocated Rs 7,060 crore for the scheme.
In a report released recently, C&W said these five elements “need simultaneous growth to ensure that India is able to create ‘smart cities’ as per the plan. “India is rapidly urbanising and the urban population in 2031 is expected to increase to 600 million and they will require massive restructuring to support the future population,” the report said.
Stating that smart cities require clean and continuous supply of power, C&W said that there is a need to develop alternative energy sources. The consultant stressed on the need for innovative and viable mechanisms to secure funds for developing smart cities. Strategies to engage multiple stakeholders will be necessary.