Track2Realty Exclusive: Many urban planners maintain the genesis of the model integrated township in India lies in Jamshedpur, developed by the TATA Group. However, modern realty analysts maintain no one understands the grandeur of an integrated township better than Jaypee Group due to its locational vantage point and large tract of land bank. The infrastructure major has to its credit state-of-the-art township along the Yamuna Expressway.
Jaypee Greens not only stands up as a case study but also throws challenge for the future integrated townships in terms of size, value and overall holistic development of self-contained township. After all, how many townships can afford to be spread over 1162 acres of lush green land, the way Jaypee Greens Wish Town is positioned.
The township in Sector 128 includes five sectors. The mega golf view integrated township has Jaypee Greens Klassic in Sector 129, Jaypee Greens Kosmos in Sector 128, Jaypee Greens Garden Isles, and Jaypee Greens Kensington Park in Sector 133, Kalypso and Pavilion Court in Sector 128.
Mahindra World City in Chennai also stands out as a successful integrated township developed far away from the then existing commercial hubs in the city. It is extremely large, spread over 1500 acres, with multiproduct SEZs managing to attract prominent anchor firms across a number of industry verticals.
Magarpatta City spread over 430 acres near Pune needs a special mention as a model integrated township. It is an internationally appreciated model of self-sustainability. The township has solar water heating system, garbage segregation at source, bio gas, vermi-culture, bio-compost, tree plantations, cold storage in addition to the usual facilities.
All these amenities are managed by the developer through its property management services (PMS) arm. The Pune Municipal Corporation even reduced the property tax for Magarpatta City residents by 10 per cent in appreciation and in support of their efforts.
Another success story has been the Hiranandani Group’s Powai project. There are dozens of township projects across India at various stages and the average price range is between Rs 5,000-8,000 per sq ft. For Example, Vedanta City near Surat in Gujarat offers 2BHK flat at around Rs 15 lakh while Nanded City at Pune by Magarpatta Township is in the range about Rs 40-44 lakh. The 2 BHK flat would cost more than Rs 1 crore in Kohinoor City at Kurla, Mumbai. Villas will cost Rs 2-3 crore near tier-II cities while it will cost about Rs 5-6 crore in the suburbs of these cities. For example, Amanora Sweet Water Villas are quoted at Rs 4 crore and above at Amanora Park Town at Kharadi near Pune.
…to be continued
