Smart Cities Need to Prioritise Human-centric Approach over Technology: JLL
Smart city initiatives in the Asia Pacific will not reach their potential if they focus on delivering cutting-edge technologies without paying enough attention to the needs and experiences of citizens, says a new research.
 
In the report, "Smart Cities Success: Connecting people, proptech and real estate", JLL says that real estate sector can play key role in making smart cities work for their residents. "A human-centric approach to develop smart cities, innovative financial solutions to attract private sector and elimination of bureaucratic bottlenecks will lead to Mission's success," it added. 
 
The research also highlighted the opportunity for a more human-centric approach to smart city development which promotes inclusiveness, efficiency, sustainability and transparency. It said that as the real estate industry catches up in technology, it could bridge the gap between smart city solutions and the physical spaces where people work, live, and play.
 
India also had launched the smart cities mission valued at about $30 billion. However, according to the real estate consultant, India's smart city mission faces hurdles similar to other such global missions. 
 
Launched in 2015 to improve sustainability, India's smart cities mission provide affordable housing and tackle other issues to ensure a citizen-friendly environment across 100 cities, it was hailed as a bold and necessary step to cope with India's rapid urbanisation. After four years of drive and some 5,000 projects, there have been significant breakthroughs. 
 
Mr Nair says, "Under the second term of the current government, the Mission is sure to get a significant push in terms of investments and project level developments. This would lead to the overall success of the mission." 
 
 
"We believe precincts built on a combination of technology and human experience are sure to operate more efficiently for occupiers and can deliver a premium for investors due to lower operating costs and better yields," he added.
 
However, JLL feels that challenges relating to regulatory hurdles may prove deterrents to growth. It says, "Bureaucracy is one key stumbling block. Given that cities are large and complex, smart city initiatives can succeed only if governments are open to experimentation and willing to invest time and resources in learning from missteps." 
 
According to the report in India, there are challenges like limited availability and sharing of government data, measures that can support smart city solutions. Capacity building remains a big hurdle due to change-averse mindsets and a dearth of technical training and a lack of skill-building.
 
 
"Additionally, co-ordination among various stakeholders is hindered by the presence of multiple government bodies that have overlapping jurisdictions, programmes and resources," Mr Nair says.
 
Moreover, JLL says special purpose vehicle (SPV) created to "plan, appraise, approve, release funds, implement, manage, operate, monitor and evaluate the smart city development projects" is often at odds to the local government, leading to poor governance, significant tension at ground level and hampering implementation.
 
"Hence, better co-ordination among all stakeholders will ensure that funds are properly used to get projects off the ground," Mr Nair says adding a collaborative approach will help the mission in India. 
 
"Our research shows that real estate is a crucial element in the future of smart cities and our clients are asking us how they can ensure the buildings they occupy or invest in are future-ready. Here, government bodies and the private sector, which represent a diverse set of teams, can collaborate and address the challenges in a meaningful manner," Mr Nair added.
Like this story? Get our top stories by email.

User

COMMENTS

M D Khattar

3 days ago

Some how I feel what we mean by Smart City is actually Smart area of a city. All or almost all our cities are old with a mix of old techniques living side by side with latest techniques. So we need to actually retrofit the old ones with new and may be add some new ones

Domestic passenger car sales down 24% in June
Domestic passenger car sales continued to slump with the segment's off-take falling 24.07 per cent in June.
 
According to industry observers, high cost due to GST, low demand, and lack of adequate liquidity continued to dent purchases.
 
According to the Society of Indian Automobile Manufacturers (SIAM), passenger car sales in the domestic market dropped to 139,628 units from 183,885 units sold during June 2018.
 
Among the other sub-segments of passenger vehicles, the number of utility vehicles sold in India went down by 0.99 per cent to 72,917 units in June 2019, while 13,187 vans were sold last month, down 18.7 per cent from the corresponding month of 2018.
 
Overall, passenger vehicle sales declined 17.54 per cent in June to 225,732 units from 273,748 units.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
Like this story? Get our top stories by email.

User

After Deloitte, Mehra Goel Co. resigns as Manpasand's auditors
In light of the investigation in the GST fraud case which has seen the arrest and resignation of the top Manpasand Beverages executive, auditors Mehra Goel and Co. have resigned on Tuesday, being the second auditor to resign as the company's auditor.
 
The company said in a regulatory filing that Mehra Goel and Co. resigned as the company's statutory auditor citing "recent developments, including action and investigation intiated by the Goods and Sevices Tax authorities in relation to Manpasand Beverages..."
 
"..and resignation of Directors and Company Secretary of Manpasand Bevrages Limited". 
 
Manpasand scrips on the BSE closed 4.89 per cent lower at Rs 40.85 apiece.
 
A CGST statement, released in earlier in the year, stated that searches were conducted on various premises of the company on May 23, following which a racket of creating fake/dummy units for availing fraudulent credit and committing tax evasion of Rs 40 crore involving turnover of approximate Rs 300 crore had surfaced.
 
The investigations revealed a nationwide network of 30 dummy companies that were used by Manpasand Beverages for claiming illegal credit. The agencies are still ascertaining the exact beneficiaries of such dubious deals.
 
Manpasand Beverages is country's first listed pure-play beverage company having a market capitalisation of about Rs 1,200 crore. It manufactures fruit juices under the brand names X-Cite, Mango Sip, Siznal, Aprilla etc
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
Like this story? Get our top stories by email.

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

online financial advisory
Pathbreakers
Pathbreakers 1 & Pathbreakers 2 contain deep insights, unknown facts and captivating events in the life of 51 top achievers, in their own words.
online financia advisory
The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Online Magazine
Fiercely independent and pro-consumer information on personal finance
financial magazines online
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
financial magazines in india
MAS: Complete Online Financial Advisory
(Includes Moneylife Online Magazine)