The new concept of integrated townships is now more about a single developer taking over a large tract of land. There are benefits too. “The infrastructure is under the developers’ control,” explains Anuj Puri, Chairman and Country Head, JLLI, adding that the developer can plan and use the FSI better, and long-term maintenance is a possibility.
Integrated townships can reduce the burden on infrastructure and provide a fulfilling lifestyle for buyers, at a much reduced cost all round. Gulam Zia, National Director – Research & Advisory Services, Knight Frank India points out, “Of late, the planning authorities and Government bodies have realised the importance of integrated townships and are giving special concessions for creation of such townships.
Sahara India today announced it would develop a new city near Dhaka called Notun Dhaka and has signed agreement with the Bangladesh government to invest in housing sector of neighbouring nation.
What goes into the strategic planning of an integrated township to make it a case study in flagship project? One such integrated township in Mumbai is Kohinoor City at Kurla Vidyavihar. Atul Modak, Head of Kohinoor City says, “What we considered was the need to provide plenty of recreational space and all ultra-modern amenities. It truly had to be a ‘city’ where all their needs and luxuries could be met.
Integrated township as the future of urban living is an established reality. However, the future of integrated townships depends not only on the infrastructure development, but also creation of overall social infrastructure. Track2Realty delves deeper into the issue to find out the thin line that bifurcates between a successful case study and a dream unfulfilled.
Many developers believe that slum redevelopment adds asset value appreciation to the existing properties in the vicinity. This is a primary concern when it comes to town planning and infrastructure development. They say when a slum is redeveloped; the infrastructural development of the area in and around it is bound to happen.
Bandra Kurla Complex was created by MMRDA as an alternate CBD to Mumbai, with the express purpose of halting the further growth of offices and commercial activities in South Mumbai. Currently, BKC has a total stock of 8 million square feet of office space. An additional supply of 2.5 million square feet is expected in 2012 with the completion of The Capital, FIFC and TCG Finance Centres.
Redefining Public purpose, as suggest by Parliamentary Committee, will impact infrastructure, industrial and township development severely.
Provisions of LA and R&R Bill should not apply to private acquisitions done by developers after direct negotiation with land owners/farmers. Privately negotiated prices, in almost all cases, are much higher than acquisition compensation suggested in the bill.
The government has formed a committee to evolve a workable strategy for reducing the time taken in approval of real estate projects which could ultimately reduce the cost of houses by 25 to 40 per cent, minister of housing and urban poverty alleviation Kumari Selja said on Friday, May 11.
Cognizant Technology Solutions has increased its real estate infrastructure expansion in India by nearly $200 million.
The US-based company, which has large offshore presence in India, has revised its investment plan to a total of $700 million in real estate from 2011 through 2015.