Around 3000 smart city projects worth Rs 1.2 lakh crore are in various stages of implementation out of which 79 projects worth Rs 841 crore have been completed, informed Anupam Mishra, Economic Advisor, Ministry of Housing and Urban Affairs, Government of India, today.
The predictions are based on analysis of the Indian government's exemplar development, Bhendi Bazaar, a 16.5-acre site in Mumbai that has been put forward as a flagship of the proposed new 'smart' cities.
Following Pune Municipal Corporation’s (PMC) Rs 200 crore municipal bond offering that hit the BSE on June 22, as many as 26 cities with A+ and above credit rating are planning to raise over Rs 50,000 crore over the next three years, say ministry sources.
A city cannot be smart unless it is green. Cities have to become green before they become smart, according to Prem C Jain, chairman of Indian Green Building Council.