The government has already announced the names of 60 cities that will be developed as 'Smart Cities' and plans to release a new set of 40 cities early next year. Housing is an important integral part of the mission, with the government setting itself a target of completing the ambitious initiative by 2019-20. It is providing financial support of Rs 48,000 crore under the project with each of the cities being given Rs 500 crore. The selected cities under the project will have features such as assured water and power supply, sanitation and solid waste management systems, efficient urban mobility and public transportation, IT connectivity, and e-governance.