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Finally,chandigarh has made it to the list of smart cities

Posted by BrickAcres on May 26, 2016
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Chandigarh ranked number 4 while Lucknow ranked number 1 in the list
released by the Ministry of Urban Development on Tuesday. Chandigarh
had failed to make it to the list of top 20 smart cities, which led
to anger and disappointment among city residents.Finally it has made
it to the list of smart cities along with 12 others in the second
phase of fast-track competition.

In the first phase, Chandigarh will get Rs 200 crore for implementat
-ion of the proposals.

Last year, Chandigarh had got 54 marks and this time, the Municipal
Commissioner said, the city scored 70 plus.Now a Special Purpose
Vehicle (SPV) will be formed for implementing the Chandigarh Smart
City project.

SPV, a public company, will be a joint venture between the Chd
Administration and Municipal Corporation sharing equal equity of 50
per cent each.

The primary role of the SPV will be to plan, appraise, approve,
finance, implement, manage, operate, monitor and evaluate smart
city solutions, both pan-city and area-wise.

The total cost of the project is estimated to be around Rs 6,200
crore, with Rs 250 crore for the pan-city proposal and Rs 5,950
crore for the area-based development.

A total equity of Rs 1,000 crore will be invested by the Municipal
Corporation and Administration. MC’s equity will be generated from
the grant fund which will be created to receive funds made available
by the government of India under the smart city project.

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