Technology behind every communication systems, especially commercial applications requires periodic modifications to satisfy the subscriber’s desires. A bulk of handheld radio access devices are emerging in the market every day. Since radio resources are limited and expensive, Device to device communication underlying New Radio (NR-gNodeB) access network is encouraged in fifth generation (5G) systems. But such system may be a catalyst for interference. At present, the research hotspot is to find ideal solution for resource allocation and interference management. This paper emphasis the requirements of 5G system and its physical layer design. Further the intention is to mitigate interference in such system so that functionalities of scheduling schemes such as Greedy, Round Robin and Proportional fair algorithms are analyzed for efficient resource allocation. The simulation results explore that, the coded generalized frequency division multiplexing (GFDM) system results in higher transmission rate. Also, coded GFDM with proportional fair scheduler results in high throughput and reduced latency with no compromise in its fairness. In summary, the proposed scheme could be a wise choice for reliable communication in smart cities.