A smart city is characterized by the utilization of current technology for its management and operations. In India, the Smart City Mission initiated under the Ministry of Housing and Urban Affairs in 2015 aims to provide essential facilities and enhance the quality of life through smart technologies. The Union Government allocated INR 2 lakh crore in funding for the mission, intending to benefit a population of approximately 100 million.
Any urban community integrating suitable communication systems and internet-driven data collection devices can be designated as a Smart City.
Top 10 smart cities to consider for plot investments in India include:
Ahmedabad
Ahmedabad stands as one of India's prominent eight metro cities, renowned for its affordable luxury and the expanding presence of IT and business hubs. Moreover, Ahmedabad holds the distinction of being a UNESCO World Heritage City, making it a sought-after destination for both tourists and homebuyers due to its historical significance. The city seamlessly combines the charm of its old town with a modern ambiance, featuring urban development that encompasses historic "Pol" communities alongside contemporary high-rise buildings and skyscrapers.
Prime locations for plot investments in Ahmedabad include Sanand, Paramdham Society, Rancharda, Sanand-Nalsarovar Road, Vansajada Dhedia, Dholera Road, Nalsarovar, Bavla, Kolat, and Rethal.
Upcoming Infrastructure Development:
- Dholera Special Investment Region (DSIR) is the central upcoming industrial hub of India.
- Development of Ahmedabad-Dholera Expressway to boost real estate development in South Ahmedabad.
- The GIFT, the Gujarat International Finance Tec-City, is a central business district currently under construction between Ahmedabad and Gandhinagar that claims to provide global companies with world-class infrastructure, services, and the highest quality of life through integrated townships.
Bhubaneswar
Bhubaneswar is emerging as a rapidly growing IT hub in the eastern part of India. Influential drivers, such as the Kalinga Nagar Industrial area and Paradip SEZ, are anticipated to impact future real estate values positively. Additionally, the recently developed Infocity SEZ at Chandaka by IDCO has become a key employment hub. The property market in Bhubaneswar is well-regulated, with a significant portion of available land being government-owned.
Prime localities that draw the attention of plot buyers in Bhubaneswar include Sailashree Vihar, Neeladri Vihar, Chandrashekharpur, Patia, Prasanti Vihar, Pitapalli, Jatni, Kuha, Lingipur, Tamando, and Kalinga Nagar.
Upcoming Infrastructure Development
- The Golden Quadrilateral Project's six-lane NH5 construction is intended to facilitate traffic congestion.
- IDCO's proposed Convention and Trade Zone (“CTZ”) at Bhubaneswar's JanataMaidan.
- An IT Incubation Centre is being built on 2.39 acres of land in the Infocity IT/ITES SEZ, Chandaka, Bhubaneswar.
Coimbatore
Coimbatore, often referred to as the "Manchester of South India" due to its prominence in the textile and spinning industries, is renowned for its economic activities. As the second-largest city in Tamil Nadu, it boasts a robust social infrastructure, well-developed transit facilities, and promising employment opportunities. The city has undergone significant transformations across various sectors, including textiles, education, and the emerging IT industry, contributing to the growth potential of the Coimbatore real estate market.
Areas such as Avinashi Road, Trichy Road, Saravanampatty, Vadavalli, and others have witnessed increased interest and investment in real estate.
Upcoming Infrastructure Development:
- The upcoming Mayilkal - Narasimhanaickenpalayam western ring road project.
- The Coimbatore (Kovai) Metro, which has five lines, is a proposed mass rapid transit system (MRTS) in Coimbatore by the Chennai Metro Rail Ltd. (CMRL).
- Kaniyur - Ukkadam bus stand, Bilichi - Ukkadam bus stand, Karanapettai - Thannerpanthal, Ganeshapuram – Karunyanagar, and Vellalore – Ukkadam are among the proposed lines.
Hyderabad
Hyderabad, the capital city of Telangana, is emerging as a prime destination for IT and commerce, contributing to the increased value of real estate. Factors such as excellent transport access and connectivity to the city's business hubs have played a crucial role in enhancing the genuine worth of properties. Hyderabad is recognized for having a real estate market primarily driven by end-users, making it a compelling choice for plot investors in India.
The city features eight prominent plot corridors, including Hyderabad Airport Corridor, Hyderabad - Nagpur IT Corridor, Pharma City Corridor, Aerospace Corridor, CBD and Financial Corridor, Warangal Highway Corridor, Genome Valley Biotech Corridor, and Patancheru Industrial Corridor, offering options based on budget and proximity to various employment hubs.
Upcoming Infrastructure Development
- Development of 135 link roads covering a distance of 126 km to ease the traffic in the city.
- The Strategic Road Development Plan (SRDP) under the Comprehensive Road Maintenance Programme (CRMP) seeks to develop a series of the flyover, underpasses, and Rail Over Bridges (ROBs). By Dec 2021, four flyovers in Kondapur, Shaikpet, Balanagar, Bairamalguda, and Owaisi Junction will be operational.
Indore
Indore, renowned for educational institutions like IIM and IIT, stands out as one of India's prominent cities undergoing rapid development. The city possesses ample land, with property prices predominantly influenced by investor demand.
Key localities for plot investments in Indore include Hatod, Super Corridor, Airport Road, MR 10, Premium Park Colony, Scheme No 136, Scheme No 78, Ujjain Road, Sanwer Road, Sheetal Nagar, Alok Nagar, Chhawni, Anand Nagar, Palda, Khandwa Road, and Bicholi Mardana. These areas offer plots in various price ranges and sizes to cater to diverse preferences.
Upcoming Infrastructure Development
- One approved metro line between Palasia – Railway Station – Rajwara- Airport – Bhawarsala – MR10 – Palasia (Ring Line) of 33.53 km length.
- Four more metro lines are proposed between Sri Aurobindo Hospital – Collectorate office – Indore Bypass 1, Sri Aurobindo Hospital – Collectorate office – Regional Park (1B), Dewas Naka – Juni Indore – MHOW, and MR9 – Indore Railway Station – Indore Bypass 4.
Kochi
Kochi has become a focal point for numerous new IT firms and serves as the business hub of Kerala. Strategic initiatives like the privatization of the international airport and improvements to the seaport have highlighted the city's real estate potential. Kochi boasts several crucial projects in various stages of implementation, contributing to its growth and development. The city's growth corridors encompass various SEZs, industrial areas, the Malabar Coastal Economic Zone (CEZ), Cochin Port, and IT parks, offering a multitude of employment opportunities.
Desirable destinations for purchasing plots in Kochi include Thrikkakara, Kangarappady, Vazhakkala, Kakkanad, and Angamali. These areas are recognized for their attractiveness among plot buyers.
Upcoming Infrastructure Development
- Phase II of Kochi Metro from JLN to Infopark through Kakkanad was approved by the state and is awaiting central approval. Work is also proceeding on Phase 1B — from SN Junction to Tripunithura, and the extension is planned for commissioning by June 2022
- The Vallarpadam International Container Trans-shipment Terminal will make Kochi an Indian peninsula shipping hub, offering investment prospects.
Pune
Pune, counted among the largest IT centers in India, has been driving the demand for residential properties by leveraging IT advancements and improving connectivity and public transport. The most attractive and sought-after areas for investing in plots are those in proximity to IT/ITeS Parks and industrial zones.
Investment-worthy locations include Airport Road, Hadapsar, Kondhwa-Wanwadi, Paud Road, Baner, Dhayari-Narhe-Ambegaon BK, Wakad, Dhanori-Lohegaon, Pimple Saudagar, and Wagholi, known for their top-notch plot development opportunities. These areas are favored by investors looking for promising plot investments.
Upcoming Infrastructure Development
- The upcoming metro line between Pimpri Chinchwad Municipal Corporation (PCMC) – Nigdi.
- The proposed metro line between Swargate – Katraj, Shivaji Nagar – Kadam Wakwasti, and Swargate – Pul Gate.
Nagpur
Pune, counted among the largest IT centers in India, has been driving the demand for residential properties by leveraging IT advancements and improving connectivity and public transport. The most attractive and sought-after areas for investing in plots are those in proximity to IT/ITeS Parks and industrial zones.
Investment-worthy locations include Airport Road, Hadapsar, Kondhwa-Wanwadi, Paud Road, Baner, Dhayari-Narhe-Ambegaon BK, Wakad, Dhanori-Lohegaon, Pimple Saudagar, and Wagholi, known for their top-notch plot development opportunities. These areas are favored by investors looking for promising plot investments.
Upcoming Infrastructure Development
- Kadbi Chowk to Golibar Chowk and Santra Market new railway overbridge (ROB) is under development.
- Subway development from Pachpaoli and Bhanekheda is being connected to relieve traffic congestion and improve transportation facilities.
Lucknow
Lucknow is one of the towns where the real estate sector has exploded in the last decade. Lucknow already has a functioning metro system that connects the city's major intersections. There are several neighbourhoods in Lucknow that offer plots of various sizes and price bracket.
Kanpur Road, Amausi, Golden City, Shivaji Puram, Deva Road, Satrikh Road, Kishan Path, Sushanth Golf City, Sadrauna, Nilmatha, New Jail Road, and Raibareli Road are regarded as the key plot investment hubs.
Upcoming Infrastructure Development
- The proposed metro line between Lucknow Railway Station (Charbagh) –to Vasant Kunj, covering a distance of 11 km.
- Construction of Cloverleaf to connect the six-lane Kukrail flyover and the upcoming four-lane Khurramnagar flyover.
Visakhapatnam
Vishakhapatnam, widely known as Vizag, is home to one of India's largest ports. The city's appeal has grown due to its robust social and retail infrastructure, coupled with rapidly expanding employment opportunities.
Plots of varying sizes and prices are available in localities such as Madhurawada, Rushikonda, Duvvada, MVP Colony, Bhogapuram, Bheemili, and more. Gajuwaka, Pendurthi Road, and Murli Nagar are also considered viable options, offering affordability and aligning with the smart city concept. The Visakhapatnam Urban Development Area (VMRDA) serves as the approval authority for plots and layouts in Vishakhapatnam.
Upcoming Infrastructure Development
- Visakhapatnam (Vizag) Light Metro has three approved metro lanes: Gajuwaka-Kommadi, Gurudwara Junction-Old Post Office, and Thatichetlapalem-Chinna Waltair.
- Four proposed industrial hubs with full infrastructure support and a business-friendly environment along the Visakhapatnam-Chennai Industrial Corridor.
- Under the Vizag smart city initiative, a park for children of all abilities is being developed.
The above are the top ten smart cities of India that are worth investing in for future gains.
Also Read: 8 Smart Cities in India that are Best for Living 2024
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Ans 1. Ahmedabad,Bhubaneswar,Coimbatore,Hyderabad,Indore,Kochi,Pune,Nagpur,Lucknow,Visakhapatnam are some of the best smart cities to invest in real estate in India.
Ans 2. The 4 most active investors in the smart cities space since 2015 are US-based SOSV, GGV Capital, Sequoia Capital China, and China-based Tencent Holdings.
Ans 3. A smart city uses information and communication technology (ICT) to improve operational efficiency, share information with the public and provide a better quality of government service.
Ans 4. In the latest ranking, Indore is the No 1 smart city of India.
Ans 5. Yes Kolkata is a smart city.Yes Kolkata is a smart city.
Ans 6. Owning land gives you financial security and peace of mind. Experts recommend raw land investing and buying land for future development, such as housing or building. No maintenance is required, and you can sell your land at a higher price in the future.
Ans 7. For small investors to truly enjoy the more traditional sense of land ownership, perhaps the best options are timber farms, mineral development lands, vegetable gardens, orchards, vineyards, and recreational land.