Mumbai, June 11 -- Ministry of Housing & Urban Affairs issued advisory for Repurposing of Smart City Special Purpose Vehicles (SPVs). Launched in 2015, the Smart Cities Mission (SCM) promoted city-level innovation and integrated infrastructure delivery. Over the past decade, SPVs have demonstrated the ability to deliver complex, multi-sectoral projects with agility and innovation. As of March 2025, over 93% of the 8,000+ projects under SCM have been completed, with the Government of India having disbursed nearly 99.44% of the Mission's total budget outlay of Rs 48,000 crore. In the process, the SPVs have cultivated a robust institutional capacity to manage high-value urban projects efficiently. Recognising the strategic investments made i...