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Moving into the Future with Smart Cities

​The Union Budget 2017-18 has clearly emphasized the importance of housing and development in India. Of all the policy initiatives, the Housing for All (Pradhan Mantri Awas Yojana) and the Smart Cities Mission are the two major flagship policies that have affected the demand and supply trends of the residential real estate.

Every home buyer wants to make smart choices whether it is buying a dream home, looking for a property to rent out or safeguarding a property with home insurance​. Let’s take a look at the promising Indian cities that are the hotspots for residential property investment.

​First of all, let’s understand what it takes to call a city a smart city:

  • Affordable housing, even for the poor
  • Adequate water supply 
  • Assured electricity
  • Sustainable environment
  • Health and Education
  • Safety of all citizens
  • IT connectivity and digitization
  • Good governance
  • Efficient public transport and urban mobility
  • Sanitation and Waste management
Now, let’s take a look at the Indian cities that have consistently topped the charts for residential investments.

Bengaluru
The demand for housing in Bengaluru is ever-increasing for the fact that it is not only a haven for students but also a home for the flourishing IT industry. The number of high-end residential projects in and around Sarjapur road, Whitefield, Electronics City and Hebbal has increased considerably. Owing to the prospect of capital appreciation offered by the city and the development projects such as Intermodal Terminal HUBs, Monorail and Metro, Bengaluru is a promising investment option.

Pune
The most appealing factor to homebuyers in Pune is its proximity to Mumbai and its connectivity via the Mumbai-Pune Expressway. Housing projects ranging from affordable to luxury projects are available. The ongoing projects such as Metro rail, Bus rapid transit system and new International Airport in Pune will increase the city’s real estate demand big time.

Ahmedabad
Gujarat's largest city, Ahmedabad has emerged as India’s important economic and industrial hub. It hosts industries of varied segments and provides employments to the deserved from all across the country. The major growth drivers in the city’s development would be the Metro rail project, Sardar Patel Outer Ring Road and the Gujarat International Finance Tec (GIFT) City.

Chennai 
The capital of Tamil Nadu offers massive employment opportunities in West and South Chennai. The state government is focused towards providing excellent road connectivity along the nodes: Perungudi, Sholinganallur, Siruseri, as well as GST Road. The other upliftments to look forward to in Chennai are the Outer Ring Road II, Chennai Monorail, Mass Rapid Transit System and Chennai Metro.
  
Hyderabad, Kochi, Vishakhapatnam and Indore are also among the top contenders for the prestigious title of smart cities. What is seen in common in these cities is the strong growth in employment and educational opportunities. Both of them play a vital role in shaping the modern society. Look out for these cities as they have a high potential for residential investment opportunities.