Union Urban Development Ministry will announce the details of first stage recommendations and guidelines for development of 100 Smart Cities this week as such suggestive policy measures have already been finalized with due consultation process with all States and Union Territories.
The recommendations and guidelines for stage-1 development of 100 Smart Cities across the country will be announced either on Thursday or Friday, Union Urban Development Secretary Madhusudhan Prasad said here while inaugurating a conference here.
The meet on "Smart Cities and Urban Transformation" was organized by the PHD Chamber of Commerce and Industry.
He said that stage-II execution policy decisions relating to Smart Cities are likely to be put in place in next four months time with their implementation schedule, slated to begin from January 2016.
Prasad informed that Special Purpose Vehicles (SPVs) would be floated to implement the Phase-II planning process of Smart Cities with Centre contributing Rs 100 crore for each proposed Smart City with similar contribution coming from State and UT concerned.
The CEO of the SPV, would be appointed by the state government to implement the Smart City project through a joint venture arrangement between the State and its municipalities and similar other bodies with an equity stake of 50:50.
The proposed SPVs would be by and large accountable and responsible to implement smart city project under guidelines from the Centre as well as states concerned and also arrange for finances and other such facilities from private sector since the execution of Smart Cities would require huge investments.
Elaborating on the Stage-I implementation policy measures for Smart Cities, the Secretary said that in the such cities, all modern infrastructure including IT related facilities as also environment and ecologically friendly surroundings will be available so that the owners in such units are equipped with all amenities and civic facilities that would be emulated by others.
According to him, the government would also facilitate the spirit of competition within different players so that the best infrastructure is evolved for those that invest in such projects for peace, tranquility and prosperity.
