"If Srinagar is included in the Smart Cities project, as the money has already been provided in the budget, the process of rebuilding can start instantaneously," he said.
"I think no city can lay a greater claim on the project than Srinagar, which needs to be made livable after undergoing massive destruction during the September floods," he said.
He said the focus of the post-flood rehabilitation programme in the state should be on rebuilding of the economy and restoration of the livelihood of the people.
He said the state government has after a long delay submitted Rs 44,000 crore relief and rehabilitation plan to the Centre and it will take a long time to get funds and benefits to fructify on the ground.
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"The Centre shall have to take practical and urgent measures to address the issues of immediate concern," he said.
He said the Union budget for the current year has allocated Rs 2,000 crore for urban renewal mission for making cities livable with better infrastructure.
Sayeed urged Asian Development Bank and World Bank to send their teams to the state at the earliest to assess the needs of the state devastated by the floods.
"In addition to needs assessment, I request these institutions to start long-term programmes for restoration of livelihood and capacity building in the state. This will allow us to leap-frog into the 21st century," he said.