Smart Cities Landscape: Commercial Real Estate Take by Propstack

Mumbai, Maharashtra, February 12, 2016 (Newswire.com) - ​One area in the Indian infrastructure arena that’s getting increasingly exciting is the Smart Cities landscape. Look at this landscape, smart cities are developed largely around five key themes viz. e-governance, urban mobility and infrastructure, water and waste management, healthcare, and resource up-skilling and digital education.

While a lot has been spoken of the role of technology and infrastructure transformation under the Smart Cities mandate, one thing that's striking is: the real nature of the problem is too fragmented for a “one solution fits all” strategy. Propstack (http://www.propstack.com/)  is experimenting with innovative ways in which Commercial Real Estate (CRE) can make a city evolve smarter. CRE insights, at the intersection of technology platform and big, diverse data, will be a powerful tool for efficient and accountable city operations.

CRE insights for a smart city footprint: Factually, 40% of traffic in city centers is caused by people looking for parking spaces*. It’s an awful, two-pronged problem for urban mobility. Firstly, time is lost in searching for parking, and secondly this causes a cascading effect on traffic congestion for others. This critical problem requires multiple entities – municipalities, technology players, real estate planners, industrial bodies, etc. – both with technology roadmap and physical restructuring capabilities to come together and bring a diverse ecosystem alongside. Propstack is already seeing the potential of how a small “plug and play” solution using a CRE footprint, can help city planners make informed decisions for parking locations and efficient road diversions.

CRE grid for a smart city view: Imagine a city’s commercial footprint at your fingertips – a grid-like view of industrial and commercial clusters, key corporations (MNCs and domestic) along with their locations, land and real estate revenue across a micro-market. This real-time view of a city’s CRE can facilitate direct revenue opportunities for government and state municipalities, e.g. opportunities with the kind of SEZs, potential MNC clients, trade facilitation and resource up-skilling centers. Moreover, this induces state governance to be more like a portfolio manager, looking at a set of industries across the city and optimizing its presence over time for best overall industrial penetration.

CRE tech for smart city investments: It’s likely that about 10-20% of total smart city funding will be government driven. This means that private investors – investment funds, real estate players, and large conglomerates – need to be foundational to the smart city landscape. In all honesty, commercial valueand ROI potential of a location is going to be the most important driver to attract large scale investors to the city. To achieve this, CRE technology is critical to reflect the level of commercial activities and industrial penetration within a city and its diverse micro-markets, which appeal to industries for various value-chain decisions.

About Propstack

Propstack is a leading professional, non-conflicting commercial real estate information provider in India. Led by a team of real estate, research and analytical specialists and backed by industry experts, Propstack conducts expansive, ongoing research to produce and maintain the largest and most comprehensive CRE database.

To know more, visit Propstack.com or write at  admin@propstack.com.