Smart City Mission was launched by MoUD Gol 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 there citizens and apply smart solutaions to improve services and infrastructure. Faridabad city was also selected in the Smart City Mission in fast track round 21 May 2016. Smart city project comprises of two parts: (a) Area Based Development with an estimated amount of Rs. 1916/- crores and (b) Pan city Solutions with an estimated cost of Rs. 425/- crores
Faridabad Smart City Limited, a Special Purpose Vehicle(SPV) was incorporated on September 20, 2016 under the Companies Act, 2013 and the company is limited by shares. Faridabad Smart City Limited is governed by the Board of Directors with its Chairman, The Principal Secretary, Urban Local Bodies Department, Haryana and in case of State Level High Powered Steering Committee(HPSC) for Smart City Faridabad. it is headed by Chief Secretary, Government of Haryana.