Final shape to 'Smart Cities' project by next month: Venkaiah

The government will give a final shape to its proposed flagship scheme on developing '100 smart cities' next month, Union Urban Development Minister M Venkaiah Naidu said in Hyderabad on Friday.

100 smart cities will come up..some by converting present cities and some by having satellite towns around those cities and some by combining two cities into one by building a new city in between. This is the plan. Final shape will be given during the month of November and then it will go to the Cabinet, Naidu said. 

Speaking to reporters on the sidelines of the '5th Telangana Real Estate Developers Association (TREDA) Property Show 2014' that got underway here, he said converting present cities into smart cities is a difficult job. So one idea is to develop satellite towns around the bigger cities. That's one plan we are having in mind and I am working on that. Aiming to provide better facilities and amenities in urban areas, the government announced a plan to develop 100 smart cities in the general budget this year.

Asked if policy framework on government's another ambitious scheme 'Housing for All by 2022' had been prepared, the Minister said, We are at an advanced stage. We are trying to go for (providing) interest subvention for affordable housing. Because at the present interest rates, people cannot construct houses. So for the affordable ie economically weaker sections and low income groups of housing, we are planning to have interest subvention, wherein interest will be subsidised by government for those people.

"I am also working with Finance Ministry to have preferential loan for the housing sector. They said we are positive and working on that, he said. Asked on Real Estate (Regulation and Development) Bill," Naidu said, I am planning to take it in forthcoming session of Parliament or in budget session. That will be taken on a priority.

On Jawaharlal Nehru National Urban Renewal Mission (JNNURM), he said, It has lapsed already in March 2014. Now we are planning to bring a new mission. It is almost in final stage and once it goes to Cabinet then it will be announced.

Earlier, speaking at the event, he said the Centre has a plan to develop periphery of Hyderabad city by creating satellite township. That is the thinking of the Government of India. I had informal discussions with Telangana CM Chandrasekhar Rao (on the matter). That has to take concrete shape.