Article by Rimjhim Dubey
What separates a smart City from other residential projects? Arranging better Framework, more positions and productive organization, frameworks that utilize the most recent innovation. If we want to set up a city like Dubai in our country then we have to focus on the smart cities’ mission. This activity was first established in 2015 to make at least 100 such cities under the guidance of the Government of India.
Now let’s talk about one of the ongoing Smart City projects of India which is the Dholera smart city and its impact on real estate. Dholera special investment region (DSIR) is proposed as a significant new modern Centre point to be situated around 100 kilometers south of Ahmedabad and 120 kilometers from Gandhinagar inside the Saurashtra region. This site covers a region of around 920 square kilometers of land incorporates 19 villages of DhandhukaTaluka, 3 villages of BarvalaTaluka, in total 22 villages of Ahmedabad district.
This is one of the biggest Smart City projects proposed so far in this region. This project is situated in the main industrial focus area of Ahmedabad, Vadodara, Surat, Rajkot, and Bhavnagar. The closest airport is at Ahmedabad in spite of the fact that there is a current position to build up another worldwide airport towards the north is of the DSIR at Navagam village.
The benefits of a smart city are that it will improve the standard of living and promotes a satisfactory life in an urban location with improved Foundation, enhancements, and availability. The smart cities are filled with different resources such as business, office space, Shopping Centre, Mall, well-being Educational Institute, etc.
In this project, different types of housing societies are going to be developed to meet the population of 2 million by 2030. Around 30% of the land will be given to the low-income groups for the development of housing,57% is given to the medium income group, and the remaining 13% is given to the higher income group. Maximum facilities will be provided in all housing projects like offices, schools, retail stores, etc.
The DSIR will be incorporated into the transportation network by constructing Road Infrastructure and a new rail connection. This construction will be going to link Dholera Smart City with Ahmedabad, Bhavnagar, and other main Spots. The new international airport just in the north of Dholera Smart City will be going to be a major attraction for business. Central Expressway will have five grade-separated interchanges that will be going to directly connect with the city. Facilities like power, water, telecommunication, gas, and waste management are going to be available in Dholera Smart City.
In total 947 MLD water is required to meet the demand by 2030. Initially, the demand of water will be satisfied by Narmada Canal but due to other sources like Kalpsar Dam water is provided in a sufficient amount. Around 1346 hectares of land is been assigned for the development of solar energy Park.
The travel industry is definitely going to help the economy of DSIR throughout different attractive places like religious places and the blackbuck sanctuary. The creation of a film city is also going to enhance the sports and entertainment zone. Different types of hotels and City centers, commercial Complex will be going to be developed in the Dholer Smart City.
Smart City Dholeragenerate approximately around 4,83,000 jobs in total construction time of 30 years. It is expected that as the jobs created, the total population will going to be increased round about 2.5 million. In total 11661 hectares of land are allocated to the industrial sector, 12891-hectare land is allocated for the economic sector and approximately 12,000-hectare land is allocated for the rest of the future development.
Planning of the whole development of Dholera smart city is going to be completed in 30 years and is divided into 3parts. The total cost of the 30 year plan period is estimated at 38,476 crores. The cost of the infrastructure element of phase 1 is estimated at approximately 304.60 crores, for phase 2 it is 520.66 crore and for Phase 3 it is 250.04 crores.
Dholera International Airport is also approved by the government to be constructed in Gujarat, India. This airport will be built near Navagam of Ahmedabad district in Dholka Taluka. This project is spread over a total area of 1426 hectares. It is at a distance of 80 km from Ahmedabad and 20 km from the Dholera Smart City project. Construction of Dholera International Airport has been started in 2019 and it is expected to be completed by 2022.
Impact of Dholera Smart City on Gujarat Real Estate Investments
Smart cities hold an important aspect in the development of India. Central Government announcing Smart City mission. One thing is very clear that it will be going to affect Indian real estate. Combined with very brilliant designs and in an affordable amount smart cities play an important function in giving an impulse to real estate in the country.
As we all know that all of the above development requires a lot of planning and execution. The real estate sector exists for the construction of residential as well as a commercial structure. The government is doing lots of hard work to make smart cities so that the quality of the standard of living is going to increase and this will definitely going to give a quick power to the real estate sector.
This one is the highlighted point, as in the smart cities construction of lots of office space will going to be implemented, so the organization will definitely going to set up their office here. Lots of investment is expected as office spaces are going to be in very high demand. These schemes are under the guidance of government and their main aim is to give the house to all, so this will definitely going to increase the demand for housing which is very beneficial for Real estate developers.
Smart cities will definitely be going to create multiple job openings for the people who want to live in improved infrastructure, commercial and residential spaces, and want an overall rise in the standard of living. In real estate sector also demand of worker will going to increase as the construction of infrastructure require manpower and labor. It will also attract private Enterprise to make investments with the developers in order to make joint ventures.
Corruption is definitely going to be reduced as it is constructed under the Smart City mission which is accompanied by RERA. The Smart City project is affordable for all the categories so it will reach the lower income group and higher income group also. Other social amenities are also required like Educational Institute, Healthcare Institute, and for that heavy investment, and construction is required. Real estate developers will definitely be going to get into it and make some profit by constructing them.