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.