Trivandrum, the capital city of Kerala, was chosen in Round Three of the City Selection Process, and had bagged the first rank in the 2017 Smart City Challenge under the Indian Government’s ambitious Smart City projects initiative.
But what is a smart city? What does it entail? How is it going to change your life? And more importantly, how will it impact the real estate market trends in Trivandrum?
What is a Smart City?
The Smart City project was initiated by the Government of India in 2015. They wanted to transform 100 cities through 8000 projects, and the cost estimate was put at 1,65,000 crore rupees. The official mission objective is to “promote cities that provide core infrastructure and give a decent quality of life to its citizens, a clean and sustainable environment through the application of ‘Smart’ solutions.”
In other words, the smart city project is a program of retrofitting and urban renewal, aimed at fostering the growth of sustainable real estate in Trivandrum among other cities. Specific areas within these cities are earmarked to be transformed into model cities. It is hoped that the smart city, or model city, with its enhanced way of living, will inspire residents in other parts of the city to follow suit.
So what exactly constitutes a ‘smart city’? It is anything that improves the quality of life of the residents—one that allows them to live healthier, happier, and more productive lives. There is no hard and fast rule. Sustainability is a big part of the smart city initiative as well. This means that the projects required for different cities can be different.
Smart City Projects in Trivandrum
The vision of the Trivandrum Smart City project is : A vibrant & alluring capital city that is inclusive, safe & accessible and which respects its natural environment & celebrates its heritage & culture. Projects worth 1538 crores have been envisioned for the city.
To this end, the government has planned several projects:
- Construction of multi-level parking at Thampanoor, Public office, and A Block Palayam
- Redevelopment of Sri Chithra Park and Children’s Park KWA
- Redevelopment of Rajaji Nagar
- Chalai warehousing project
- Tensile roof over EK Nayanar Park at Putharikkandam Maidanam
- Chalai waste biomining
- Vending Zone at RKV Road
- Rehabilitation block for TRIDA
- ICCC building at Janasevana Kendra
- Smart mosquito density
- Storm water drains
- 24/7 water supply and water drinking kiosks
- UGD network system
- Integrated social housing complexes
- Developing new parks
- Decentralization of solid waste management
- Manaveeyam Vedi cultural corridor
How Does this Impact Real Estate?
The initiatives taken to transform the capital city into a green and clean city are driving the increased demand for real estate. Home buyers are attracted to such areas as they want to live better and healthier lives. The increased emphasis on the environment augurs well for the future of the citizens. Many of the projects of Trivandrum city are pan city, which means that everyone can reap its benefits.
Those looking to settle down in a futuristic city will be especially happy to purchase a flat where a smart city project is in progress. Families can rest assured that their children will inherit a greener and better environment.
Investors will be keen to invest in properties where smart cities are being created, as their value is certain to appreciate in the near future. Environment conscious homeowners or renters will definitely prefer to reside in an apartment that is located in a place where measures to protect the environment are implemented.
Conclusion
The impact of technology on the real estate market in Trivandrum can be seen in the way potential home buyers search for properties, take virtual tours, and compare properties. Prop tech is also ensuring more secure and transparent transactions.
Varma Homes is one of the most prominent builders in Trivandrum, with outstanding apartment projects close to many of the smart city projects in the city. Check out the premium 2 and 3 BHK flats in projects that are RERA approved, are visually appealing, and solidly built.
Ready to experience the future of urban living? Explore our wide selection of apartments in Trivandrum, perfectly positioned near key Smart City projects, and find your dream home today! Click here to view our listings and take the first step towards a smarter, more sustainable lifestyle in one of India’s most dynamic cities.
FAQ‘s
What is a Smart City and how is Trivandrum qualifying as one?
A Smart City, as initiated by the Government of India in 2015, aims to transform cities by providing core infrastructure, a decent quality of life, and a sustainable environment using smart solutions. Trivandrum was selected in the third round of the City Selection Process and topped the 2017 Smart City Challenge, leading to numerous developmental projects aimed at improving sustainability and living standards within the city.
How will the Smart City projects in Trivandrum impact the real estate market?
The Smart City projects in Trivandrum are set to significantly enhance the city’s appeal and functionality, increasing demand for real estate. Projects like the redevelopment of parks, improvement of water systems, and new cultural corridors make the city more attractive to residents and investors alike, likely leading to appreciation in property values and a surge in interest from environmentally conscious buyers and investors.
What are some key Smart City projects underway in Trivandrum that might interest potential homebuyers?
Notable Smart City projects in Trivandrum include the construction of multi-level parking spaces, redevelopment of key public spaces like Sri Chithra Park, and the introduction of advanced infrastructure like smart mosquito density control and 24/7 water supply. These improvements are designed to enhance the living conditions in the city, making it a prime location for families and investors seeking a modern, sustainable lifestyle.
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