The Indian government announced a Smart Cities Mission in 2015 to redevelop existing cities and develop new urban areas with advanced infrastructure to address population growth. 100 cities were selected to be developed as smart cities based on proposals from state governments. Property demand increased in many of the cities selected for smart city projects, with cities like Bhubaneswar and Solapur seeing over a 30% boost, while more established cities like Ahmedabad and Kochi saw modest 4-5% increases. The analysis found smart city designations provided the biggest benefits to less well-known cities by raising their profiles and attracting new investment and residents.

1. Property demand
influx with the
announcement of
SMART CITIES

2. The NDA, right after it formed government in
the center, proposed its plan to develop
housing for all by the year 2022. In this line
they realized the need to remodel existing
urban clusters and develop new urban areas
with advanced features to tackle the
population immigration. This need gave birth
to the concept of Smart Cities.
Rounds of talks and conferences were held to
discuss feasibility of Smart Cities in India.
After analyzing all the prospects, the
Government of India formally announced
Smart City Mission in the month of June
2015. It proposed that altogether 100 cities
to be selected to be developed as Smart
Cities. It also proposed criteria for selection
and invited state governments to come up
with list of cities for the same.

3. Aug 27, 2015 :
A list of 98 cities
announced by the
Ministry of Urban
Development
June 25, 2015:
Government
announced the
Smart Cities
Mission
June 25, 2015:
Government
proposed criteria for
selection and invited
lists of cities from
respective state
government
Jan 28, 2016:
Government
announced names
of 20 cities
shortlisted
for the 1st phase
May 25, 2016:
Government
announced list
of 13 cities for the
2nd phase
June 25, 2016:
Work in 20 selected
cities in 1st phase started
to celebrate anniversary
of Smart Cities Mission
Smart City Mission Dateline
First Phase:
Bhubaneswar, Pune, Jaipur, Surat, Kochi, Ahmedabad,
Jabalpur, Visakhapatnam, Solapur, Davangere, Indore,
NDMC, Coimbatore, Kakinada, Belagavi, Udaipur,
Guwahati, Chennai, Ludhiana and Bhopal
Second Phase:
Lucknow, Warangal, Dharamshala,
Chandigarh, Raipur, New Town-Kolkata,
Bhagalpur, Panaji, Port Blair, Imphal,
Ranchi, Agartala and Faridabad

4. Overall Buzz around
SMART CITY
1. The topic is active since year 2014 which picked up in June 2015. Since then the
overall conversation volume around smart city is quite high
2. August 2015 has seen the maximum peak with over 4 lakh mentions
3. It again picked up in January 2016
4. A consistency during 2015 and 2016 with an average search of around 2 lakh
mentions per month can be seen

5. IMPACT ANALYSIS ON
PROPERTY DEMAND
POST ANNOUNCEMENT
OF SMART CITY MISSION
Ahmedabad, Bhubaneswar,
Davangere, Jabalpur, Jaipur,
Kochi, Pune, Solapur, Surat,
and Visakhapatnam10
Focused Markets

6. 1AHMEDABAD
1. The property demand in
Ahmedabad is quite consistent
in the past 2 years
2. The smart city announcement
gave a little boost in the
overall property demand in the
market (4%-5%)
3. It is largely because of the
existing demand in the market

7. 2BHUBANESWAR
1. The property demand in
Bhubaneswar is almost
consistent for the past one
and half years
2. The smart city announcement
has given an extra boost to
the overall property demand
in the market (11 to 13%)

8. 3DAVANGERE
1. The property demand in the
market is quite consistent in
the past 2 year
2. The smart city announcements
has given the extra push in the
overall property demands (8 to
10%)

9. 4JABALPUR
1. The property demand in
Jabalpur is almost consistent
for the past 2 years
2. The smart city announcement
gave an extra boost to the
overall property demand in
the market (8% to 9%)

10. 5JAIPUR
1. The property demand in
Jaipur is quite consistent for
the past 2 years
2. The smart city announcement
did not make any effect on
the overall property searches
3. The major reason for this may
be the existing demand in the
market

11. 6KOCHI
1. The property demand in
Kochi is quite consistent for
the past 2 years
2. The smart city announcement
did not affect the overall
property demands in the
market

12. 7PUNE
1. Overall the property demand
in Pune is quite consistent for
the past 2 years
2. As soon as the smart city
announcement took place in
the month of Jan 2016 one
can see a clear growth in the
property searches (around 8
to 9%)

13. 8SOLAPUR
1. The demand in the region is
directly proportional to the
announcements of smart city
and giving boosts to the overall
demand
2. 2 major spikes in May 2015 and
post Jan 2016 may be seen with
a growth of over 30 to 35%
which is exceptionally high in
current sluggish real estate
scenario

14. 9SURAT
1. Property demand is quite
consistent for the past 2 years
2. The smart city announcement
of Surat gave a little boost in the
overall demand of properties (4%
to 5%)
3. The growth is not that steep
because of the consistent demand
of properties in the market

15. 10VISAKHAPATNAM
1. The property demand is evenly
poised for the last 2 years
2. The smart city announcement has
shown some push in the property
demands in the location
3. One can see a little growth in past
6 months post smart city
announcement but its not that
high at the moment

16. KEY INFERENCES
1. Overall we can clearly see a growth of
8 to 10% in the property demand for
the location which got announced
under the smart city projects
2. Already popular destinations have
seen lesser impact compared to that
of the less known cities
3. Places like Solapur or Bhubaneshwar
are the major pick of the locations

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