Chandigarh Smart City Limited, the Special Purpose Vehicle (SPV) formed to undertake developmental works under the Smart Cities Mission, has asked the UT Administration to transfer 71 acres of land in Sector 43 to them in order to undertake smart city projects in the sector.
The smart city project near the ISBT in Sector 43 has been identified for building convention centres, residential housing, including studio apartments, and various other projects.
“Once the UT Administration hands us over these 71 acres, we will begin our work. It is a barren land and entirely vacant. Even as per the master plan, Sector 43 is the sub-city centre but isn’t developed,” Kamal Kishor Yadav, Commissioner of Municipal Corporation Chandigarh and Chief Executive Officer of the Chandigarh Smart City Limited, told the media.
Under the Area Based Dvelopment, sectors 17, 22, 35 and 43 have been identified for various smart projects that would be run on a pilot basis. The projects include 24×7 water supply, smart power supply and transportation in all these four sectors. But urban infrastructure projects in Sector 43 are set to take the major chunk from the total allocation of Rs 4,932 crores.
“We have also asked the administration to allow us higher floor area ratios so that investors see the comparable building norms and are attracted to invest in this sector. Around Rs 5,000 crore will be spent and the project will entirely be on the public-private partnership,” Yadav added.