Over 200 affordable housing projects planned under the Smart City Mission in Karnataka: CBRE

[ecis2016.org] Over 200 affordable housing projects have been planned under the Smart City Mission in Karnataka, to promote sustainable and livable urban centers for growth, according to a report by CBRE South Asia Pvt Ltd

Over 200 affordable housing projects have been planned under the Smart City Mission in Karnataka, with over 130 of these smart city projects planned in Belagavi, Mangaluru and Tumkur, with a cost of less than Rs 100 crores per project, real estate consulting firm CBRE South Asia Pvt Ltd said, in a report. CBRE’s report, titled ‘Powerhouse Karnataka – The Harbinger of India’s Economic Revolution’, based on the theme of ‘Ease of Doing Business Policy’, stated that Karnataka ranked eighth across India on Ease of Doing Business 2017-18, ahead of Maharashtra and Tamil Nadu, scoring the highest in terms of maximum reforms for enabling construction permits. Additionally, the state also scored well on reforms implemented relating to ‘access to information and transparency’. The Ease of Doing Business scores were released by the Department of Industrial Policy and Promotion (DIPP) of the Ministry of Commerce and Industry, in partnership with the World Bank Group.

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Key Smart City projects in Karnataka

Launched in 2015, the central government’s ‘100 Smart Cities Mission’ aims to convert cities into sustainable and livable urban centres of growth. The focus is on sustainable and inclusive development through the use of ‘smart’ solutions. The mission mandates the selection of cities based on a nationwide challenge, requiring cities to first compete at the state level and then at the national level. Scores are awarded on the basis of the cities’ implementation of reforms in areas such as sanitation and governance. As of June 2018, the government had selected all of the 100 cities for the Smart City Mission, with Shillong being chosen as the 100th smart city.

The development of smart cities is a considerable task that requires financial support from all quarters. As a result, the government has earmarked Rs 48,000 crores over five years – i.e., an average of Rs100 crores per city per year. The selected cities have come up with varied ways of utilising these funds. Many of the proposed and under-development projects in the selected cities are based on the PPP model, which the government has sought to encourage in a bid to encourage private participation and funding. The piped gas distribution network in Belagavi, Karnataka is one such instance of a PPP project.

In Karnataka, seven cities have been identified as ‘smart cities’ under this mission including Belagavi, Hubli-Dharwad, Mangaluru, Shivamogga, Davanagere, Tumkur and most recently, Bengaluru.

Projects in Karnataka under Smart City Mission with a cost of less than Rs 100 crores

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Source: Smart City Mission, GoI, CBRE Research, Q3 2018

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Projects in Karnataka under the Smart City Mission with a cost of more than Rs 100 crores

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Source: Smart City Mission, GoI, CBRE Research, Q3 2018

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Key affordable housing projects in Karnataka under the Smart City Mission

Source: Smart City Mission – GoI, CBRE Research, Q3 2018

Affordable housing projects are also coming up in areas such as Hoskote, Devenahalli, Sarjapura, Anekal/Chandapura Road and Electronic City in and around Bengaluru. Koramangala in the capital city, too, has an upcoming affordable housing project, which will have more than 1,500 units and is scheduled for completion by March 2020.

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“Karnataka has always been a front-runner in India’s economic progress and its real estate sector has played a key role in this. Due to the forward-looking policies implemented by the state, sectors such as real estate, have also attracted significant investments over the past couple of years,” said Abhinav Joshi, head of research, CBRE India.

One of the key investment destinations in the country, Karnataka was also ranked second, on the Social Progress Index 2017, after Delhi. The index, released by the Institute for Competitiveness, considered three broad categories of social progress – basic human needs, foundations of wellbeing and opportunity to capture what matters to society and people. The report also noted that Karnataka was the first state to enact the Industrial Facilitation Act to help investors. Karnataka, in 2017-18, accounted for 19.2 per cent of the total FDI inflows into India – second only to Maharashtra. As a result, the state’s investments have almost quadrupled in 2017-18, as compared with 2016-17.

According to the report, Karnataka has various upcoming/planned infrastructure initiatives to boost industrial production under the ‘Make in India’ campaign. Key among them, are the Chennai-Bengaluru Industrial Corridor (CBIC), Bengaluru-Mumbai Economic Corridor (BMEC) and Kochi-Bengaluru Industrial Corridor (KBIC).

List of airports and ports in Karnataka

• International airports: Bengaluru, Mangaluru
• Domestic airports: Mysuru, Hubbali-Dharwad, Belagavi, Bellary
• Major ports: Mangaluru
• Minor ports: Karwar, Belekeri, Honavar, Bhatkal, Hangarkatte, Malpe, Mangalore Old

The report further states that Karnataka was among the first few Indian states to implement power sector reforms and has been taking various initiatives to implement projects to improve installed capacities for power generation in the public and private domains. With a capacity of more than 7,400 MW, it is one of the leading states contributing to India’s renewable energy supply.

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