Many People Nowadays Prefer To Book A Home In Township Projects.
A home in township project, today, is a trend which includes more than just buildings with basic amenities. We look at how such projects have evolved and the amenities that developers are now offering
The real estate world is a dynamic one; it never stays the same. Popular trends keep changing from time to time. Newer trends come up and beat the older ones. What is in vogue nowadays is the trend of integrated townships. These mixed-use development projects are increasingly becoming popular for the economies of scale they provide. Generally, such projects are launched at the peripheries of already established cities and are self-sufficient in terms of infrastructure and civic amenities. Several Residential Properties in Thane have been launched under the integrated township module.
Integrated townships, with high-end infrastructure and facilities that are on par with ‘smart cities’, are fast becoming the orders of the day and are changing the way developers are planning their new projects. Much of this move towards township projects is dictated by the lack of space (i.e., land) in cities. With developers being forced to seek land parcels outside the main metropolitan areas, the only way they are able to attract buyers to these projects is to provide them with a self-sufficient township- a city in itself.
Evolution of township projects in metropolitan cities
The culture of living in a township has changed drastically with the evolution of the latest infrastructure and amenities. Developers are providing more than just residential buildings, gardens and the standard retail stores that sell groceries, stationery, etc. Amenities in townships now include swimming pools, exquisitely landscaped gardens, gymnasiums, yoga and meditation centres, outdoor and indoor games, jogging tracks, mini-golf courses, libraries, children’s centres, cafés and fine dining restaurants, shopping malls, markets and mini-theatres. Everything that a person would need for his and his family’s recreation and entertainment is available within the township.
Townships: Benefits they offer, for children and parents
The ‘walk to school’ concept is also becoming popular, with townships now incorporating schools that provide quality, international education. This makes it easier for parents in the township to secure admission for their children, who can literally walk to their school, ensuring not only that they do not have to face traffic snarls in overheated buses but also their safety and security in the confines of the township. In addition to education, townships also provide centres, where children can pursue extracurricular activities in sports, arts and music.
Investing in an integrated township project will provide the following benefits to the investors:
- Higher return on investment as significant commercial development exists alongside the residential one.
- Initial cost is lower because of it being developed along the peripheries away from the city’s central location.
- Solves all the urbanization issues and meets all civic needs of an end-user.
- Calls for a larger resale value in comparison to the standalone residential projects.
- Eyed by the NRIs as it has great potential for future growth and the property values multiply manifolds.
Moreover, there is increasing stress on environment-friendly development practices and townships boast of rainwater harvesting, solar power lighting and sewage treatment plants, among other green features, which reduce the carbon footprint of urban living.
Though integrated townships are still an evolving concept in India, the future of such projects is very bright. Investing in such mixed-use development is definitely a good idea.
