Smart Traffic management system (STMS) is a one of the important feature for smart city. Currently traffic management and alert systems are not fulling needs of STMS. It is more expensive and highly configurable to provide better service for traffic management. This paper proposes a low cost Real-Time smart traffic Management System to provide better service by deploying traffic indicators to update the traffic details instantly. Low cost vehicle detecting sensors are embed in the middle of road for every 500 meters or 1000 meters. Internet of Things (IoT) are being used to acquire traffic data quickly and send it for processing. The Real time streaming data is sent for Big Data analytics. There are several analytical scriptures to analyze the traffic density and provide solution through predictive analytics. A mobile application is developed as user interface to explore the density of traffic at various places and provides an alternative way for managing the traffic.