Smart City could bring losses
Smart City project could lead to a loss of Rs. 74.68 crore if the project fails to take off. As part of the rehabilitation programme, about 60 families were given free land. Apart from providing free land, the State Government had paid Rs.18 lakh to those displaced, Rs.38 lakh for pulling down their houses, and Rs.1.12 crore as value for their houses. Around Rs. 1.68 crore was spent for the rehabilitation of the people evicted from the land allotted for the project. Rs 1.35 crore was spent for fixing a fence around the proposed site. This work was carried out by a company named SmartCity Kochi Infrastructure Private Limited, formed as a joint venture between Tecom, the promoters of the SmartCity, and the State government.
As of now, Smart City project is clouded by uncertainties. Will this project ever take off? That will remain as a question. If it fails, then it could bring about a big loss, both in money-wise and employment-wise and the sole responsibility will be the politics in Kerala.
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