• Smart cities to attract an investment outlay of Rs. 48,220 crores
• 89% of smart cities investment to be spent on built environment, transportation, water and wastewater management and energy
• 7% of investment is allocated for technology infrastructure
• 4% of investment is allocated for public services
India 19th July, 2016: India’s Smart Cities Mission will provide immense opportunities for high volume real estate development considering the highest chunk of the proposed capital investment in smart cities-about 89 per cent has been allocated for built environment (urban development & housing, buildings, waterfront development etc.) transportation, water, wastewater management and energy, according to a white paper released today by RICS.
(From left to Right) Devina Ghildial- MD, South Asia- RICS; Anshuman Magazine FRICS- Chairman, RICS South Asia Board and Chairman- India and South East Asia CBRE; Sachin Sandhir- Global MD, Emerging Business- RICS; Professor KT Ravindran FRICS- Dean Emeritus, RICS School of Built Environment, Amity University; Anil Sawhny, Associate Dean, RICS School of Built Environment; Sunil Agarwal, Director & Associate Dean, RICS School of Real Estate; Raghu Rama Swamy, D T V, Director, School of Infrastructure, Research & Institutional Consultancy at RICS School of Built Environment
RICS in partnership with RICS School of Built Environment (SBE), Amity University today released a white paper titled, “Urban Makeover: Evolution or Revolution” at the RICS Cities Conference 2016. The white paper looks at the ground realities of smart cities and its execution challenges.
Sachin Sandhir, Global Managing Director - Emerging Business, RICS said, “Being a global professional body for built environment, RICS has taken up issues pertaining to urbanisation and vision for cities the world over. The white paper attempts to look at the opportunities provided by the Smart Cities Mission for cities to transform themselves and at the same time, highlights challenges that need due attention and discussion. We are working with central and state government bodies on various aspects and providing technical advice and international best practices; helping structure projects that will go into making smart cities and helping them tap into sources of finance from land and real estate assets on a sustained basis.”
Devina Ghildial, Managing Director, South Asia, RICS said, “RICS white paper among other things examines how the Indian model of smart cities is unique because it promotes area based development instead of pan city development. Almost 74 per cent of the investment is targeted towards area based development.” Devina further added that smart technologies such as Big Data, Building Information Modelling (BIM), Cloud and mobile computing etc. will hold the key to the future of smart cities.
The white paper talks about how a relatively smaller portion of the proposed capital investment amounting to about 11 per cent of Rs. 48,000 crore in the 20 smart cities that were selected in the first round of the smart city challenge will be spent on technology infrastructure and public services.
Technology infrastructure would include projects relating to Information Technology in the public domain such as communications and operations, connectivity and public interface apart from public services such as health, education, governance and socio-cultural initiatives, which forms the core of smart city infrastructure.
About RICS
RICS is a global professional body. We promote and enforce the leading chartered qualification and standards in the development and management of land, real estate, construction and infrastructure. Our name promises the consistent delivery of standards – bringing confidence to the markets we serve. The work of our professionals creates a safer world: we are proud of our profession’s global reputation and we guard it fiercely.
RICS offers a wide range of executive education & training solutions for real estate and construction professionals as well as employers. RICS School of Built Environment, Amity University and its faculty are the delivery partners for such training programs.