Term Of The Day: Smart City

A smart city uses information and communication technology to raise efficiency and transparency in administration. 

PropGuide Explains  City

Though the concept is often vaguely defined, smart cities emphasise efficient use of available resources. Smart cities are designed to instantly respond to the challenges citizens face. Run on technology, smart cities consume less energy and resources, and provide high quality urban services to its residents. Smart cities are equipped with basic infrastructure and amenities that facilitate sustainable growth. Smart cities are also known as telecities or digital cities. 

The infrastructure in Gujarat International Finance Tec-City (GIFT) , an Indian smart city, is estimated to cost each person $ 23,500 for infrastructure. But, with central air conditioning, filtered tap water, better sewerage system and other amenities, GIFT is expected to have much better infrastructure than a typical Indian city. 

The Narendra Modi government recently launched the City mission, which is intended to accelerate urbanisation in India. The NDA government plans to build 100 smart cities across the country. The City mission is designed to ease the pressure off existing Indian cities. 

Indian cities are trying to out-compete other cities in finding a place in the government's City mission. The " City Challenge Competition" assesses the merit of  a city before deciding whether or not it should have a place in the City mission. Recently, newspapers reported that Gurgaon is being out-competed by cities like Karnal and Faridabad because the basic infrastructure in Gurgaon is insufficient, though the city contributes much to Haryana's revenues. 

Check out PropGuide's comprehensive guide to real estate terms here.

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