Smart City Mission was launched by Ministry of Urban Development (MoUD)GoI in which 100 cities were to be selected for Urban renewal and retrofitting with the objective to promote cities that provide core infrastructure, give a decent quality of life to their citizens and apply smart solutions to improve services and infrastructure. Srinagar Smart City project was approved in Round 3 challenge held in April 2017.Smart city project comprises of two parts:
(a) Area Based Development with an estimated amount of Rs. 2869.24/- crores and
(b) Pan city Solutions with an estimated cost of Rs. 765.03/- crores
Srinagar Smart City Limited, a Special Purpose Vehicle (SPV) was incorporated on September 08, 2017 under the Companies Act, 2013 and the company is limited by shares. Srinagar Smart City Limited is governed by the Board of Directors with its Chairman, Administrative Secretary, Housing and Urban Development Department, J&K and in case of UT Level High Powered Steering Committee (HPSC) for Smart City Srinagar. it is headed by Chief Secretary, Government of J&K.