Paarth Infrabuild to invest Rs 500 crore to develop Lucknow’s first Smart City project

LUCKNOW: Paarth Infrabuild would pump in Rs 500 crores to develop Lucknow’s first smart township. The company would develop the Paarth Republic township on 80 acres of land on the Lucknow-Kanpur highway, nearly six kilometers from the airport.

“Smart city is the buzz word these days and figures high on the governments agenda, but we will be the first one to actually deliver it. We would, along with funds from banks and institutions, pump in Rs 500 crores, in the first phase of Paarth Republic” said Chairman and MD, Pradeep Misra.

The entire land needed for the project has been acquired and all clearances have been obtained from Lucknow Industrial Development Authority (LIDA) and land has been acquired said Misra.

He said that the smart city would have technology enabled management of waste, sewers, traffic and lighting. The entire 80 acres would be wifi enabled and make optimum use of solar power.

“Smart city basically means that the technology enabled infrastructure is able to alert the system about any problems instantly. This then sets off the backup team to address those problems immediately before residents feel the need to complain. Smart city also makes optimum use of resources which saves electricity, water etc thus easing some load off the residents. Our smart city would also provide for pre paid electricity meters and mobile applications to manage one’s home even if you are away through your handset also” said Misra.

He said that there has been a lot of talk about smart cities across the country, but Paarth Republic would be the first such project to come up. He said that customers would start living in the township in about three and a half years time.