New Delhi, 4th December 2018: The 100 Smart Cities Mission was launched on 25th June 2016. Since its launch, the 100 Smart Cities Mission has identified 5,151 projects. These identified projects belong to the different stages of improvement and are going to be completely redefined at a fast pace.
According to the latest real estate news New Delhi, a press conference was conducted on last Thursday regarding the current update of the implementation process. An official of the Ministry of Housing and Urban Affairs confirmed the current status mentioned above.
As per the real estate news India, the projects that come under the 100 Smart Cities Mission have a huge budget of more than approximately INR. 2,05,018 Crores allocated for it. As of the day when the project update was given by the Ministry of Housing and Urban Affairs official in the press conference, 534 projects among the proposed 5,151 projects have been completed. The 534 completed projects worth INR. 10,116 Crores.
Now, the implementation process has been commenced for 1,177 projects from the rest 4,617 incomplete projects. The budget allocated for the 1,177 projects is more than INR. 43,493 Crores approximately. Other 677 projects are at the tendering phase and approximately INR. 10,116 Crores are allocated for these 677 projects. Among the proposed 5,151 projects in the 100 Smart Cities Mission, 2,763 projects have remained untouched as of now. The authority has promised to gear up the entire process soon.
The Ministry of Housing and Urban Affairs official has also said that Special Purpose Vehicles (SPVs) has been provided to all of the 100 to-be smart cities.
Apart from this 100 Smart Cities Mission, more than 65.5 Lakhs houses are also proposed to be constructed under the Pradhan Mantri Awas Yojana as approved by the Ministry. These houses will be constructed in urban areas. The Ministry has also sanctioned the implementation of the Heritage City Development and Augmentation Yojana (HRIDAY) for 12 cities.
Author: Somdeepa Bhattacharjee
Somdeepa Bhattacharjee has a total experience of five years in the Content Editorial, Online Community and Internet Marketing domains. As a part of the content team of a3solutions.in, she develops research-oriented stories and News Articles on recent market trends. She has a proven strong analytical skill in her Articles which help readers to understand real time scenario of Realty Market. In her free time, Somdeepa engages in Blogging, Trekking, Reading Classics and Photography. She really fond of Entrepreneurship, Travelling and Foods.