Here’s why the city of Surat is among the best in smart cities

According to a study conducted by the Economic Times, Surat will be the fastest-growing downtown in the world over the next 20 years. The Annual Survey of India’s City-Systems (ASICS) awarded the Surat the title of “best city” in 2013; it was also chosen as the first smart IT centre in India. With over 2 million internet users, it has been selected as the first smart IT port in India by the Microsoft Next Initiative. One of twenty Indian cities to be developed as a smart city under PM Narendra Modi’s flagship was chosen by IBM.

On June 25, 2015, Prime Minister Modi launched the Smart City Mission. Under the Smart Cities Mission, Diamond port Surat expedited the execution and management of various plans. To catapult itself to the most leading position among the top 20 smart cities in India.

A total of 65 projects, amounting to Rs 1,573 have been completed and 15 plans worth Rs 1,350 are under execution. For these schemes, the Centre and state give 50 percent and 25 per centum of the grant, respectively. The remaining 25 percent is from its own funds. Here are more reasons why Surat is climbing the Smart City list at a rapid pace:

• Surat is listed as the second cleanest place in India as of 21 August 2020 according to the Swachh Survekshan 2020 on 20 August
• The resilience category of the Netexplo Smart Cities Award was won by the Surat.
• The diamond cutting and polishing centres of India, known as the Diamond port of India, has various engineering plants.

Is the real estate market in India going to get better because of smart cities?

Smart Cities are all about the development of infrastructure. Good infrastructure is an economic booster for these cities. Real Estate will be the one to benefit the most from this initiative. Surat has a developed downtown with several infrastructure and services like parks, wide roads, and metro, efficient transport system.  So let us figure out how further development will benefit Realty.

• There are lots of housing opportunities: There will be more business in the IT centres of Surat due to the infrastructure development. Housing requirements would rise due to most of them being settled down there. There will be more housing projects.
• Climb in price: The planned areas will give rise to land prices and housing projects. Hence it is wise to invest in Real Estate in Surat.
• Open space development: Open spaces are the focus of the development of every Smart City. High-end shops and restaurants can be opened by one. There are open spaces where people can exercise, play sports and live near them.
• The transportation facility: Metro is a part of most of the transportation plans. Mobility will be made easier by living downtown. One can travel quickly.
• There are wide roads and alleys: In a smart city, wide roads and alleys are assured. There is a reduction in accidents when the roads are wider. Real Estate developers won’t have to worry about the city’s plan as it is doing everything to draw buyers.
• Tourism can be encouraged: it will see a rise in the number of hotels and motels as they give an identity to the place. Local industries in the downtown will give rise to tourism as a result of the development of the place.

From the above points, we understand that the best way to identify a profitable real estate investment in India is to look at emerging markets like Surat, where there is a huge scope for growth, specifically from a real estate point of view.

Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.