Karimnagar, the Municipal Corporation and the district headquarters of the Karimnagar district of Telangana state, is the most happening city of the real estate business. The district had witnessed its division into seven parts, followed by demonetization, which has adversely affected the economy of the city. But after the implementation of the Union Government and the Smart Cities Mission program, the city is expecting to see a positive boost in the real estate market.
It is a fresh approach introduced by research and consulting companies. According to the theoretical concept of the city, it should have at least five of the smart features, namely, healthcare, technology, energy, building, infrastructure, governance, education, citizen, and mobility.
Though in the year 2011, there were no smart cities in the world, it is expected that by the end of 2026, there will be 26 smart cities, including Beijing, Tokyo, Singapore, Amsterdam, Sydney, etc. Sadly, among them, no city of India will be termed as a smart city.
Smart Cities Mission Program
For the sake of the development of the city, the Union and the State Government are planning for the further development and inclusion of various amenities in accordance with the Smart City Mission program. And it is highly expected that Karimnagar will be transformed to become one of the most beautiful cities of the state. To aid the progress, the Union government has granted Rs.1,000 crore for the diversified progressive measures, in addition to the Rs.506 crore granted for the development of the Riverfront area.
Development of the River Front Area
The government has already declared the modification of the Manair River Front (MRF) along with the coast of the Lower Manair Dam. This area is an extension of Karimnagar and will enable the promotion of tourism via the Sabarmati River, which will also have the first ever high-level cable-stayed bridge. Along with the beautification of the riverfront area, the roads will be broadened and to add to the aesthetic value of the city, various parks, amusement park, cycle tracks, etc. will also be introduced.
Smart City Mission Program, a Boon to the Realtors
There are numerous developers who have constructed flats, but the occupancy rate was nearly negligible due to the steep downfall of the real estate business. But they are keeping their hopes high after the Smart City Mission program has been introduced to various beautification activities and constructional development. It is even expected that Karimnagar can easily compete with Hyderabad after the completion of the process.
Improvement of the Technology Helps in the Real Estate
With a huge investment in the optical fibre cable, Jabalpur is expected to see a significant development in the city, which will positively affect the real estate of the city. One of the main factors which contribute to the hike of the real estate business is the infrastructure. This aids the rapid lifestyle with flyovers, river bridges, flyover building, development of the city centre, availability of healthcare centres, etc.
The real estate market is expected to see an increase in the present booking of Rs. 70,000 crore to Rs. 1,00,000 crore, within five years down the line.
Author: Supriti Ganguly
Supriti Ganguly is a Content Contributor at a3solutions.in. She is having more than three years of experience in working closely with B2B and B2C businesses providing blog writing, article writing, news writing, and copywriting services. Supriti is a professional writer with extensive knowledge on content marketing and adept in content strategizing for business collaterals. She is experienced in writing technical, promotional articles, and blogs that leave a lasting impression on readers.