Addressing the India Investment Summit, Urban Development Minister Venkaiah Naidu said the selection of 20 smart cities was made through competition, which was totally objective and transparent.
Bengaluru is ranked first in the Asia Pacific region in terms of city's socio-economic growth and momentum in the commercial real estate space, according to property consultant JLL.
The government recently announced the list of first 20 cities to be developed as 'smart cities' with Bhubaneswar topping the list followed by Pune, Jaipur, Surat, Kochi, Ahmedabad, Jabalpur, Vishakapatnam, Sholapur, Davangere, Indore, New Delhi, Coimbatore, Kakinada, Belagavi, Udaipur, Guwahati, Chennai, Ludhiana and Bhopal.
Gurgaon has emerged as the most attractive destination for real estate investment in the national capital region, according to a survey by industry body PHDCCI.
Urban Development Minister M Venkaiah Naidu on Thursday announced the first list of 20 cities that will be developed to have basic infrastructure with a proposed investment of Rs 50,802 crore over the next five years.
With the government naming 20 cities to be developed as 'Smart Cities', industry experts Wednesday said the project will require huge fund mobilization that could be brought about by public-private partnerships.
Housing sales fell by 4 percent to 2,63,720 units last year, lowest since 2010, in the eight major cities of the country on account of demand slowdown in the real estate market despite interest rate cut by the RBI.
Indians are the third biggest international investor community with USD 8 billion investment in the US realty market after Canadians and Chinese, brokerage firm Sotheby's International Realty said Thursday.
The Indian government on Thursday released a list of 20 cities of the country that are to be developed into Smart Cities.
Zee Media Bureau
New Delhi: The government has announced the first list of cities that are to be developed into Smart Cities of India.
Bhubaneswar emerged on top among 20 cities, including Pune, Ahmedabad, Chennai and Bhopal, that have been selected as part of the first batch of the Smart City initiative.
Smart Cities: Modi govt to announce list of first 20 cities today
Urban Development Minister M Venkaiah Naidu will on Thursday announce the list of first 20 cities to be developed as Smart Cities.
There are 97 cities in the Smart City Challenge, and the names of the first 20 winners of the competition will be announced on Thursday, Naidu said.
Farmers who parted with their land for highway projects are to get enhanced compensation under the new land acquisition law in case they are yet to be compensated under the old legislation.
Faced with acute slowdown in demand and delay in delivery of projects, realtors' apex body Naredco on Wednesday demanded tax sops for affordable homes and restructuring of bank loans.
The average capital values in Noida, Greater Noida and Delhi dipped minimally by a percent each.
Global hospitality major InterContinental Hotels Group (IHG) is looking at new as well as conversions of existing properties to fulfil its aim of having around 100-150 hotels in 10-15 years, said a senior group official.