Although large-scale industrialisation and urbanisation have attracted hordes of people to urban areas, infrastructure planning to support this boom is yet to catch up. In the last few years, Indian cities are being developed at a fast pace. Along with development, the demand for infrastructure has also gone up. Better infrastructure in the neighbourhood is one of the key features that homebuyers want today.
This has prompted the rise of a new concept in the real estate industry - horizontal growth in the form of integrated townships that offer a great lifestyle minus the hassle that comes with urban living. Integrated townships are a win-win situation for all the stakeholders concerned - the residents, the builders, the tenants, and the governing bodies.
Integrated townships have become the preferred choice of homebuyers in most Indian cities because of the multiple advantages they offer. These townships are like mini-cities within the larger cities, providing various amenities within a short radius. While the primary offering is residences within the township (villas, apartments and row houses), these projects also encompass commercial, business, retail, recreation, healthcare and education facilities within a gated community.
Most large Indian cities are now open to such planned horizontal growth as the only other option to growth is a vertical development which may pose other risks and dangers. Friends and like-minded people are investing in homes close to one another so that their social circuit is complete. This results in cohesive living and better emotional health, which are essential for the present-day lifestyle. Besides, it creates a sense of community which is only befitting as we are social beings.
Most of these townships are spread across 20 to 30 acres and offer daily conveniences and lifestyle amenities like restaurants, schools, colleges, gyms, golf courses, clubs and hospitals at a walking distance. They promote the walk-to-work concept by developing businesses, hospitality services and industrial facilities within the township. Here are some advantages of living in an integrated township:
There's a drastic cut in fuel expenses as workplaces are situated not more than 2-3 km from homes. Most of the residents are employees of companies that have facilities in the same complex. In fact, some people have the enviable luxury of walking to work every day.
Something for everyone
One of the latest trends is to offer townships that are based on different international cultures like Greek, Mediterranean, Venetian, Napa Valley, Spanish and Roman, and on lifestyle preferences like sports, wellness, sustainable living and hi-tech. So, residents have a compatible neighbourhood that fulfils all their lifestyle aspirations.
Thus, integrated townships not only give a grand lifestyle to residents but also solve the issues of water, power, garbage and traffic. Therefore, it is as an excellent investment opportunity for homebuyers today.
(The author is senior vice president, residential business Embassy Group)