Logo
Govt of India
Logo
bg
bg
bg

 

Govt funding for 60 smart cities may be increased by Rs 6,400 crore

07 Oct 2016

smartcity-copyNEW DELHI: In the second year of the Smart Cities Mission, the Ministry of Urban Development (MoUD) is looking for  Rs 6,400 crore push to one of Prime Minister Narendra Modi's pet initiatives.

With 60 cities in various phases of implementing the programme, the ministry is thinking to increase its outlay by nearly 80%.

The urban development ministry has written to the finance ministry that the outlay of Rs 3,600 crore for the current fiscal is insufficient and needs to be increased to Rs 10,000 crore at the revised estimates stage, terming the enhanced outlay “critical” funding over the next four months.

To underline the urgency, the ministry has also written to the Prime Minister’s Office to weigh in, authorities said.

Of the 100 urban areas under the mission, 20 were chosen a year ago through the 'India Smart Cities Challenge'.

In the second year, these 20 urban areas should be given Rs 100 crore each by the Center This translates into a commitment of Rs 2,000 crore.

This year, a second fast track round was conducted to choose 13 cities, which need to be given Rs 200 crore each, or Rs 2,600 crore in all. The last round, concluded in September, threw up another 27 cities, which again need Rs 200 crore each, or support amounting to Rs 5,400 crore.

"The aggregate expense ought to be Rs 10,000 crore yet the mission has been  earmarked only Rs 3,600 crore. The shortfall of Rs 6,400 crore needs to be made good. This is why we have sought additional funds,” a senior ministry official told.

The authority further said, "It is critical to the progress of the mission. We have reached the halfway mark and now cities will be implementing projects. Funds are critical here.”

Since the PMO is checking the flagship programme, the ministry has impressed upon it that the funds are necessary for its timely implementation, the official said.

By Sanjay Bansal | Founder & CEO | Affordable Homes India

Lotus Homz sec 111

Discuss on this Topic

Lotus Homz sec 111

Latest Real Estate News


Indiabulls Real Estate buys 140 acre land in Gurugram 01 Nov 2018
Indiabulls Real Estate recently reported a 23 per cent increase in its consolidated net profit at Rs 75.91 crore for the quarter ended September 30 Read More
Warehousing brings cheer to Gurugram’s real estate sector 11 Sep 2018
The warehousing segment may lack the charisma that a posh residential property may boast of but currently it is driving the real estate market in r Read More
Transfer EWS homes to housing board, builders told 11 Sep 2018
GURUGRAM: The state government has directed all developers to transfer their inventory of EWS houses to the state housing board in a bid to make th Read More
Realtors in Delhi may sell dreams on land they don't have 09 Sep 2018
Now that the policy is official, real estate experts worry that more builders may try their luck at shortchanging potential buyers and offering the Read More
Apathy floors affordable home aspirants 24 Jul 2018
While the sound bites on affordable homes is through the roof, things have not got off the floor Many Indians face untold hardships due to lack Read More
Final hurdle on Dwarka e-way off, to be ready by March 2018 13 Jan 2017
New Delhi: The Northern Peripheral Road, the 24-km long 8-laned expressway awaiting completion since 2012, seems to be finally on the home stretch Read More
PM Awas Yojana: Realtors hail increase in carpet area for houses; stocks up 17 Nov 2017
The Centre on Thursday approved the enhancement of the carpet area of houses for the middle-income group (MIG) category under the Pradhan Mantri Aw Read More

Trending News


Major boost to affordable housing in Delhi 01 Jun 2015
Affordable housing in the capital city of Delhi could get a major boost with the centre notifying norms for the land pooling policy, a decision welcom Read More
Home buyers may now get relief for delay in delivery by builders 08 Oct 2016
NEW DELHI: In a judgment that is certain to put immense financial burden on already cash-crunched real estate engineers, every home buyers of a housin Read More
PM Awas Yojana: Realtors hail increase in carpet area for houses; stocks up 17 Nov 2017
The Centre on Thursday approved the enhancement of the carpet area of houses for the middle-income group (MIG) category under the Pradhan Mantri Aw Read More
Realtors in Delhi may sell dreams on land they don't have 09 Sep 2018
Now that the policy is official, real estate experts worry that more builders may try their luck at shortchanging potential buyers and offering the Read More
Amrapali may face stern action as residents accuse it for ‘inflated’ power tariff 25 Aug 2016
NOIDA: The UP Electricity Regulatory Commission (UPERC) has educated Pachimanchal Vidyut Vitaran Nigam Limited (PVVNL) to take stern move against brok Read More
Top 5 Best Property Cities in India 26 Jun 2015
Luxury property today has been changing definitions! What is the price you pay for a big, beautiful house that is every neighbour’s envy? Is it Rs 1, Read More
5 realty partners held for duping 17 people of over Rs 4 crore in Mumbai 22 Aug 2016
MUMBAI: Five partners of a developer firm have been captured for allegedly cheating nearly 17 people of over Rs 4 crore by promising them flats in a s Read More

Lotus Homz Affordable Housing

Pareena Laxmi Sec 99

Shree Vardhman Green Court

Zara Rossa

Value Added Services

 

Government Housing Scheme

 

Banking

  • Prime Minister Awas Yojana
  • Prime Minister Awas Yojana ( Gramin )
  • Samajwadi Awas Yojana
  • Deen Dayal Jan Awas Yojana
  • Mukhya Mantri Awas Yojna Rajasthan
  • Affordable Housing Policy 2013
  • Smart Cities Mission
  • DDA Land Pooling Policy 2018

Banking Partners

 

HDFC

  • Corporation Bank
  • HDFC
  • IDBI Bank
  • LIC Housing Finance
  • Oriential Bank of Commerce
  • Reliance Home Finance
  • Bank of Baroda
  • SBI Home Loan
  • ICICI Bank Home Loan
  • India Bulls Home Loan
  • Axis Bank
  • PNB Housing Finance