The re-emergence of smart cities- Smart cities are a boon for Indian real estate. By Shravan Gupta.

The re-emergence of smart cities- Smart cities are a boon for Indian real estate. By Shravan Gupta.

Real estate has transformed and is paving the way for smart cities. The smart cities can be termed as the newest trend in the real estate segment. This has been aided by the government as well as the developers.

Smart cities are New India’s reality and are projected to grow more in the coming months. People’s preference is undergoing change leading back to small towns. Some of the new projects in small towns boast of open spaces and smart technology to ease living. What makes Smart City different from others is its planning. These are planned in a manner to meet the demands of every person with smart lighting solutions and security.

Smart cities are cities of the future with a high-efficiency value. A smart city’s planning is its highest-selling feature. If one lives in a smart city life is much simpler through technological advancements like LED lighting, planned marketplaces and designated open areas.

Smart cities are planned with government aid hence boosting optimum infrastructure benefits. This may be one of the reasons people prefer to move to smart cities from the hustle and bustle of a metropolitan area. Smart cities are planned with well-developed roads and designated office spaces. Efficient planning makes it an ideal city for countering the future growth scenario.

Technological advancement.

Most smart cities are technologically well-developed with Smart lighting systems. It is also energy efficient as less energy is consumed, hence power is saved. Shravan Gupta, MGF Group is very happy with this development and bullish about this change. It is a step that will lead to more developed cities in 2024.

Innovation is another reason which draws builders to smart cities. There are several opportunities for new constructions which are eco-friendly. An Eco-friendly building saves the electricity cost and lessens the burden on the pocket. Shravan Gupta, MGF Group feels smart cities will lessen the burden on metropolitan cities like Mumbai and Delhi. Another reason attributed to investment in smart cities could be cost-effective.

A house in a city like Mumbai will cost more and have less space. Such is not the case with smart cities where a person can buy a grand home at the same price. And also avail tax benefits and live with technology. Henceforth, it is wise to invest in a home in a smart city.

Smart cities are designed for the future and hold tremendous capability to boost the real estate sector. Such a city comes with its own advantages and disadvantages. In the long run, it is wise to analyze both and invest in smart homes.