Reasons Behind Stabilization Of Gurgaon Real Estate

Smart city project is an initiative to improve the lifestyle by providing “smart solutions” to its citizens. Bhopal Smart City Project is doing the same by offering an array of smart solutions to its people for a better lifestyle. The “A– credit rating” given to the Bhopal Smart City Project would act as a catalyst in this entire process. What’s more interesting in this smart city project is that government affordable housing, over anything else, has been given the top priority. As a result, the affordable housing facility would increase and so would the demand for budget-friendly property.

But before making any conclusions, it’s important to have a look at the trends that this smart project would bring along and how it would change the Bhopal real estate.

Highlights Of The Bhopal Smart City Project
Affordable Housing
One of the key features of the Bhopal Smart City Project is to churn out as many affordable housing facilities as possible. The smart city project would help the developers to buy land at a subsidized rate, thus speeding up the entire affordable housing mission. TT Nagar Stadium and Dussehra Maidan are the two sites that would be gifted with the more than 3,000 homes, 30% of which would be reserved for the lower-income strata of the society. These popular localities would become all the more popular in terms of real estate in the coming years, courtesy to this affordable housing scheme.

Pan-City Proposals
Bhopal real estate has been offered pan-city proposals worth INR 875.7 Crore. This would ensure that the existing infrastructure is used to the fullest, the ‘smart united governance’ would become more advanced and the street lights would become host to CCTVs, Wi-Fi hotspots, solar panels and environment sensors. This step would also make the waste-management in Bhopal smarter. Not just that, it would also give a digitized form to various government interface functions by creating an app for each one.

Environment-Friendly Measures
Bhopal would become an environment-friendly city by the end of the smart city project. Various eco-friendly measures have been undertaken to improve the face of Bhopal’s infrastructure. The city would get a six km long biking track on which 500 GPS-enabled bicycles would enjoy a smooth run. This measure would certainly attract those who are looking for eco-friendly environments to live in Bhopal.

Area Based Development
About 280 hectares of area in North TT Nagar has been earmarked for ‘redevelopment’ under the Area Based Development policy. Earlier Shivaji Nagar was earmarked for the same with a budget of INR 2,562.2 crores but had to be shifted due to environmental concerns. TT Nagar locality would showcase the principles of Transit Oriented Development, thus providing a walkable and sustainable morphology. These measures would transform this area into a more financially sustainable region; thus, attracting more investors.

Assured Basic Amenities
Basic amenities like electricity and water facility, efficient public mobility, better IT connectivity and smart waste management system would be gifted to Bhopal courtesy of the Bhopal smart city project. This project would offer an improved quality of life to all its inhabitants and ensure that all their needs are fulfilled in a smart way. The Metro project that is under construction in Bhopal is another initiative to improve the lives of the citizens of this city.

Connectivity, lifestyle, infrastructure and basic amenities like electricity & water supply and waste management are some of the crucial factors that can take the realty sector of any city in an upward or downward direction. With all these factors being included in the checklist of improvement for smart city, Bhopal is expected to become a magnet for the property seekers. The real estate in Bhopal would certainly see a drastic boom in the coming years. Keeping in mind this important step taken by the Bhopal government, it wouldn’t be wrong to predict that the property for sale in Bhopal would certainly increase in the coming years and the INR 700 crores invested would bear sweet fruits!