By: Manju Yagnik, Vice-Chairperson, Nahar Group
Track2Realty Exclusive: Only some years ago, when the National Housing Board brought out a survey report saying that India will need at least 26 million houses by the end of 2020, that the idea of privately built township or townships built on PPP model first germinated. Large tracts of land which were lying at the outskirts of cities were looked at with a lot of hope and dreams to offer better living to Indians at affordable prices.
Living became a concept beyond the idea of providing the security of four walls and a roof overhead. It evolved into the concept of dwelling with amenities such as shopping, school, healthcare centres and leisure areas.
It was also seen that a multitude of smaller projects disfigured the face of a location and put its infrastructure under tremendous pressure. They are usually overpriced because of ‘location value’, with no comfort and convenience. On the contrary well-planned township schemes beautify, uplift and enhance value of a new location.
Not only do they bring in their own infrastructure, they also provide residents with all the benefits and comforts of city centres, thus negating their disadvantages of being in the outskirts.
The vast open areas provided in such residential projects are well utilised to offer play, parking and open area for walkways and drive-ways- offering dignified living to people.
No wonder, today integrated township has become the buzzword across the country with realtors planning huge investments in projects that would reduce pressure on city infrastructure while complementing the growing requirement of urbanization. They are no longer in the experiment stage, but have become a reality of urban living.
An integrated township is a cluster of residential houses and commercial businesses within a marked area. The housing and business establishments enjoy the advantage of overall infrastructure, such as roads, drainage, schools, hospitals, convenience shopping facilities, water treatment plants, sewage facilities, and more. In this way, they become self-reliant city units such that the inhabitants do not need to go outside for day-to-day requirements.
Many integrated residential projects have their own retail outlets, office complexes and entertainment facilities, that reduce commuting and transportation time and expense. They infuse life into a new location and raise its value on the real estate market. Township developers focus on such residential developments because they positively transform the landscape and uphold all precepts of sustainable development.
…to be continued
