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Business • Business Opportunities
Will smart cities go theSEZ way?
Jul 11, 2015 • By Umang Estates •
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After a head start in 2006, there was asignificant decline in the development ofspecial economic zones (SEZ). TillDecember 2014, of the 436 approved SEZsacross the country, only about 40% wereoperational even after 10 years of landacquisition. Now with the government
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planning to setup 100 smart cities- bothGreenfield and Brownfield- it need to beseen if this initiative too will turn into another"land grabbing real estate venture."
Even while some real estate exports spelldoom for the smart cities initiative, saying itmight go the SEZ way, another school ofthought believes the scheme's focus is noton land acquisition. The objective is toprimarily upgrade existing service levels andurban amenities by leveraging technologyinstead of just Greenfield development. Themission does not require or promote landacquisition; it just promote promotes theethos of doing more with less.
The Rs. 48,000 crore smart cities mission isaimed at applying smart solutions to improveinfrastructure and service delivery in selectcities across India. The ‘quotas' or number of
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smart cities each state will have will dependon its population and the number of its citiesand town. All cities will have to complete witheach to fulfill the parameters drawn up by thegovernment, after which only 20 will bechosen for the first phase of funding in 2015-16. The remaining cities will have to do arethink and redo their proposals to qualify forthe next round.
The smart city mission enables thecomprehensive improvement of the livingconditions and quality of like in each citythought a strategy for area-based planningand development, resulting from extensivepublic participation in establishing the visionfor the city and guiding the integratedplanning of urban areas, and the sustainabledevelopment and management ofinfrastructure and services using big ture andservices using big data smart solutions, says
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Jagan Shah, Director, National Institute ofUrban Affairs.
It is radically different from SEZ developmentas it takes into consideration the holisticneeds of existing areas of cities, leveragingeconomic drivers that define the identity ofcities and their citizens.
The disbursement of funds to the specialpurpose vehicles, which will be set up to
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manage the transformation of the 100 citieswill be linked to the achievement ofmeasurement outcomes and theimplementation of reforms. The reforms andoutcomes and directed towards ensuring thesocial and financial sustainability of theseinterventions and to demonstrate the city'scapacity to create board based change landneeds to be an efficiently utilized recoursethrough mixed land use and improved spatialand physical planning for achieving publicgood, expanding housing opportunities,inclusive development through walkablestreets and accessible open public spaces,improving service delivery and ensuringtransparency through e-governance. Themission does not require or promote landacquisition; instead, it promotes the ethos ofdoing more with less, adds Shah.
Amit Bhatt of Embarq India agrees. According
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to him there are substantive differencesbetween the two. While the SEZs wereaimed at reviving manufacturing, were largely service driven and were set up withthe intent of promoting exports throughservice delivery and adding ancillaryfacilities, smart cities will be area wherepeople will live and work. There will beseveral approaches to setting up such cities-Greenfield, retrofitting and redevelopmentunlike SEZs that were mostly Greenfieldprojects.
Smart cities will be implemented via an SPVand the majority stake will be owned bycities, the majority stake will be owned bystate government and the urban local bodies.SEZs, the residential component in smartcities on the other hand will be at leastaround 50%.
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About the Author
Umang Estates
Vandana Ramnani is the News editor of HindistanTimes Reported extensively on real estate, retail, HRissues, education, art and culture. (show bio)
Note: This article is publisedHINDUSTAN TIMES on the date of 11thJuly 2015.
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