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POLICY REVIEW
Financing An example of impact fee is ‘Sustainability Opportunity
new developments within the for Tech Services and
The McKinsey report estimates
that nearly 45% of the urban 1 km wide Growth Corridor Solutions’ (2022) digital
technologies such as Cloud,
(GC) on the 162 km Outer
financial requirements can be
met through various land and Ring Road (ORR) around IOT, Blockchain and AI
Intelligence)
(Artificial
Hyderabad. The impact fees
asset monetisation strategies, are higher for commercial
such as development charges, can be critical in evolving
impact fees, building fees, use, and increases with the sustainability solutions,
FAR. However, there has been
land use conversion charges a wide resources gap between energy management, real
and sale of Floor Area Ratio the estimated and actual estate and buildings which
(F.A.R) or air rights. The City recovery. end up benefitting bottom
and Industrial Development lines and accelerating
Corporation of Maharashtra Engagement with Industry deliveries. It is estimated
(CIDCO) has developed 4.0 Standards that during the next 25 years,
commercial office space above the number of buildings in
suburban railway stations During last decade, new India will multiply six times.
in Navi Mumbai. The Rail age technology has changed These have to be net zero and
Land Development Authority the script of urban planning energy efficient. This involves
(RLDA) has redeveloped and management. As upgrading the power
Gandhi Nagar Railway demonstrated by Smart monitoring system, unlocking
Station with a five-star hotel. Cities Mission and PM Gati renewables, smart waste
Shakti Master Plan, the new management/recycling with
To encourage optimum use technology is vital for delivery easy to digest dashboards.
of land and densification by with speed, scale and skills. There is a need to provide
higher FAR, through two-tier The ICT (Information and real time measurement of
FAR structure can be adopted Communication Technology), power load at the circuit and
with a basic FAR bundled Artificial Intelligence, Big building level to make it net
with property right and the Data Analytics, Machine zero and climate resilient.
remaining to be purchased to Learning, Deep Learning,
enable value capture. This has blockchain, GIS, GPS, etc. Under the Geospatial Policy
been used to subsidise in-situ are disrupting the urban 2022, 3D Digital Twins allow
slum rehabilitation, project processes by intelligent and collating and creating content
whereby 40% of land/FAR for smart planning, infrastructure in partnership with ESRI
market sale can finance the and services, transport India. It provides a technology
whole project, e.g. Kathputli systems, land management platform for 3D modelling
Slum Rehabilitation Project in and enforcement. Digital and virtual representation of
Delhi. India, National Digital an object or a system that uses
Urban Platform and Urban sensors, drones, 5G Internet
Impact fees are levied on new Platform for Delivery Online of Things (IoT) and industrial
constructions in an area where Governance (UPYOG) are IoT (IIot) data. It applies
large public investments leading to digital of municipal advanced analytics, machine
such as major roads and services with speed and learning and Artificial
highways, metro rail, without red tape. Intelligence (AI) to derive
industrial corridors, ports, real time insight into the
airports, and other public According to NASSCOM- performance, operation and
infrastructure are undertaken. McKinsey Report sustainability of a project or
April, 2024, Volume 25. No.1 - SHELTER 29
