Waste collection in developing nations faces multi-fold challenges, such as resource constraints and real-time changes in waste values, while finding the optimal routes. This paper attempts to address these challenges by modeling real-time waste values in smart bins and Collection Vehicles (CV). Further, waste value prioritized routes for coordinated CV, during various time intervals are modeled in a multi-agent environment for finding good routes. The CV, as agents, implement the formulated linear program to maximize the collected waste while minimizing the distance to the central depot. The city of Chandigarh, India, was divided into regions and the model was implemented to achieve significantly better performance in terms of waste collected in less distance and total bins covered when compared to the existing scenario. The stakeholders can use the outcomes to effectively plan the resources for better collection practices, which will have a positive impact on the environment.