As per the smart city report the city of Pune has been positioned as the second city on the list of Top-20 cities selected by the government to be developed as smart cities. This selection was based on a rigorous competition held last year, where 97 cities were evaluated on the basis of their infrastructure, service levels, and track record. Along with nineteen other cities, Pune was handpicked for its cultural significance as the cultural capital of Maharashtra and its potential to become a smart city. This is the reason why we are today examining the impact on the real estate of Pune as an upcoming smart city
For a city to be classified as a smart city, it must make strategic investments in both traditional (transport) and modern Information and communication technologies (ICT), communication infrastructure, as well as social and human capital. This results in sustainable economic development and improved quality of life for its residents. A smart city is expected to have high-quality government services, including but not limited to water management, waste management, healthcare, traffic management, and transport. Will Pune’s development plan keep up with each of these smart city requirements? Let’s examine
What is Smart Pune, and How Is it Impacting the City’s Real Estate?
A Smart City is characterized by various technological advancements that enable efficient governance and sustainable development. In the case of Smart Pune, it is expected to have excellent infrastructure and readily available amenities such as water, sanitation, energy, transport, public safety, education, and healthcare. Furthermore, Smart Pune will integrate these amenities using technology-driven systems such as smart parking and traffic management, smart grids, smart lighting, and efficient waste management.
Are you on the lookout for a smart investment opportunity in the real estate sector?
- The Smart City initiative in Pune is set to significantly impact the real estate sector, making it an excellent time to invest in properties in the region. Developing new townships like the HiTech City project is leading the way in Pune’s real estate sector. These projects are fast developing and offer a combination of residential and commercial areas, making them ideal for investors and businesses.
- But that’s not all – the expansion of the New Pune International Airport is another game-changer for the real estate sector in the region. This ambitious project is revitalizing previously underdeveloped areas and has skyrocketed the development of high-end residential projects by leading developers in Pune City.
What Are the Major Benefits of Smart Pune for Home Buyers & Sellers?
The development of a Smart Pune can bring about numerous benefits for home buyers and sellers alike. Here are some of the major benefits:
- Enhanced Quality of Life: With the integration of technology-driven systems, Smart Pune will provide residents with better access to amenities such as water, sanitation, energy, transport, public safety, education, and healthcare. This will result in an overall improvement in the quality of life for residents.
- Sustainable Development: Pune smart city project will be developed with a focus on environmental sustainability. This will ensure a healthier and more sustainable living environment for residents and businesses.
- Investment Opportunity: With better infrastructure and a higher quality of life, Pune is becoming an increasingly desirable place to live, work and do business. This has led to a surge in demand for real estate in the region, driving up property values and making it an excellent investment opportunity for savvy investors.
- Smart Infrastructure: Pune smart city project will have a well-planned and efficient infrastructure, including smart parking and traffic management, smart grids, smart lighting, and efficient waste management systems. This will result in better connectivity, reduced traffic congestion, and improved overall infrastructure in the city.
- Economic Growth: The development of Smart Pune is expected to attract more investment, Job creation opportunities, and boost economic growth in the region. This will have a positive impact on property prices and provide additional opportunities for home buyers and sellers.
Overall, the development of Smart Pune can be highly beneficial for home buyers and sellers, providing them with an opportunity to invest in a sustainable and technologically advanced city with trendy amenities and sleek infrastructure.
The Impact of Smart Pune on the City’s Economy & Quality of Life:
Welcome to the vibrant city of Pune, a bustling metropolis with a diverse economy and smart infrastructure. It is an economic powerhouse that offers a plethora of opportunities to its residents. Its well-connected infrastructure, coupled with its strategic location, has made it a hub for several industries, including IT, manufacturing, and education.
In the near future, Pune is set to become a key node in the Delhi-Mumbai Industrial Corridor (DMIC), which will bring about an infrastructural upgrade and the creation of a massive industrial zone spanning over 100 km² in the Pune-Khed area. This development is set to further bolster Pune’s position as a key player in the national economy.
But Pune isn’t just about industrial growth. The city is also on a mission to transform into a “smart city,” aimed at becoming the most livable city in India. This initiative seeks to leverage technology to improve the quality of life for its residents, making Pune an even more attractive destination for investment, education, and tourism. These are some of the major areas on which the Smart City project is focusing-
- Better public transportation facilities– Pune’s transport problems are a top concern, with 65-70% of citizens preferring public transport. The city’s underperformance relative to the urban revitalization of India in this area requires targeted interventions and investments to improve mobility. By efficiently utilizing existing facilities and making strategic investments, residents can avoid long commutes within the city boundaries in the short to medium term.
- Improving infrastructure- Less than 25% of Pune’s roads are wide enough, so the municipality is going to conduct a GIS survey to identify bottlenecks and prioritize road widening. The Delhi-Gurgaon expressway saw a reduction in congestion after widening just one kilometer of the road near Cyber City. Ring roads around the city periphery could also help. Following best practices like constructing during off-peak hours and clear demarcation can alleviate congestion, as shown by the Delhi Metro Rail Corporation DMRC experience.
- Upcoming metro city- Pune needs a dense metro rail network to keep up with global cities, and the city’s plan estimates show six corridors covering 76 km are needed over the next 20 years at a cost of ~USD 3 billion. To prioritize and make quick improvements, the city would be focusing on the PCMC to Swargate and Ramwadi to Vanaz corridors for the initial implementation of the metro network.
- Monitored resource allocation for a sustainable future-Pune has ample water per capita, yet it ranks as the 2nd most pressing issue due to highly inequitable distribution. Some areas get over 20 hours of water while others get less than 2. While 24X7 water supply is a long-term vision, the city is aiming to supply a reasonable quantity to all in the medium term. This requires reducing wastage and leakage, implementing technology and infrastructure to track water availability, and taking corrective action in real time.
- Solid waste management plan- Pune’s solid waste management system has gained recognition as a role model for other cities in India. The city’s success in this area can be attributed to several factors, including the implementation of policies and regulations that prioritize waste reduction, segregation, and recycling. Pune has achieved a collection efficiency rate, which means that almost all waste generated in the city is collected and disposed of appropriately. This high efficiency is a result of an effective door-to-door collection system, which ensures that waste is collected from each household and transported to the processing plant.
Imagine living in a city where everything is connected, from traffic lights to public transportation, waste management to energy consumption. This is the future of urban living, and it’s already happening around the world. Smart connected systems in our cities offer numerous benefits for citizens, from improving quality of life to ensuring sustainability and the efficient use of resources. By embracing these technologies, we can create more livable, efficient, and sustainable cities for everyone to enjoy. If you want to taste the life of this upcoming smart city then do check out the exclusive range of pride purple residential and commercial properties today!
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