Smart cities development plan to be finalised by November

Govt also working on providing interest subvention for low-income groups under the affordable housing category

The Centre will come out with a policy framework governing the plan to develop 100 smart cities by next month.

"The policy framework is in final stages and would be ready by November this year," said Union Urban Development minister Venkaiah Naidu.

Subsequently, "it will come up for discussion before the next Cabinet meeting," Naidu said.

The minister in his address at a property show launch event here, said the Union government's smart cities development plan involving creation of satellite towns near the existing big cities would help de-congest them.

He said the smart cities policy would also exploit opportunities for combining the existing two cities by building a new city between them. It also aims at identifying existing cities that can be transformed into smarter ones.

On the government's mission to provide 'Housing for All by 2022', Naidu said the government was working on providing interest subvention for low-income groups under the affordable housing category. "We are looking at providing subsidy on bank interest on such housing loans," he said.