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Last Updated : | Source: Moneycontrol.com

Why you should buy a flat in a township?

Most integrated townships today are planned in such a way that they self-sustaining, eco-friendly and cater to almost all the needs of its occupants.

Girish Shah

A township is a complete and all inclusive cluster of residential and commercial buildings with accompanying infrastructure such as internal roads, schools, hospitals, gardens, convenience shopping, and other state of the art amenities- in short all things that provide a great living experience.

There is a dearth of residential options in fast-growing cities like Mumbai. All major cities like Mumbai are expanding boundaries and integrated township developments seem to be the answer. With longer distances to traverse to work, customers these days prefer to reside in an area that has everything they need for a good lifestyle, from spacious homes, schools & colleges, malls, and cinema halls- all a stone’s throw away. Also with the walk-to-work concept gaining prominence in the densely populated cities of India, Townships are becoming a hit with home buyers.

Townships are the next big thing from the Indian real estate perspective. Townships are built across a large area of land and most townships are built with the concept of “City within a city”. All facilities including schools, hospitals, shopping malls, gymnasium, and health spa provide the unique living experience that people demand these days which are not available in standalone buildings. There is also a sense of well-being and security when one lives in a gated community of like-minded individuals as against a standalone project.

Most developers today are seeing a great demand for homes that can provide a holistic living experience for their customers and we see a vast opportunity present for integrated developments across Mumbai and other leading cities in India.

Given the changing preferences of customers and the increase in demand for township homes, they also become a better option from the investment perspective. Townships are also less vulnerable to volatility in the market making them a good investment proposition.
Most integrated townships today are planned in such a way that they self-sustaining, eco-friendly and cater to almost all the needs of its occupants.

Some of the key benefits of living in an integrated township:

City within a city: A Township provides all the advantages of a city life in one single location and everything is available within your reach. You can live, work, study, eat and play in a township development.

Holistic living experience: As against a standalone building, townships provide larger open spaces, gardens, jogging tracks and playgrounds which suit the needs of all age-groups from children to youngsters to the elderly. There is also a Walk-to-Work possibility which augments work life balance.

Away from urban chaos: Most townships given their sheer size are built away from the city which is a big boon to its residents since they can stay away from traffic, pollution and cramped up city homes. Also these large format developments provide more open and green spaces and are usually closer to nature.

One stop shop: A township is like a one stop shop, all that you needs from shopping complexes, to entertainment venues to education and work, all your requirements are met at one place.

Secured Living: Township developments are more like gate communities with enhanced security features. Given that security is a key concern for most families especially working couples who have young children or elders at home, most townships usually have electronic security systems like video door phones, CCTV Cameras and all exits are manned 24X7 so that all residents can live worry free.

Superior Lifestyle: Living in a gated community of like-minded individuals and with everything with minutes of reach, townships do provide a superior living experience.

Sustainable Living: Townships help cut travel time, money and effort spent on one’s daily requirements. Integrated township are accurately planned when it comes to eco-friendly and sustainable features like rain water harvesting, Sewage treatment, Solar energy, Energy-efficient homes and complexes etc.

More economical: Townships are usually easy on the pockets. Since they are built outside the city limits, the cost of land in low which works in favour of both the Developer as well as the buyers. Lower land acquisition costs makes township homes more affordable as compared to homes within the city.

A great investment option: As compared to standalone buildings investments in integrated townships offer better return on investments. They also are a good bet when it comes to rental income since most people are looking for a complete living experience today.

Author is chief marketing officer at Godrej Properties
First Published on Feb 23, 2016 04:36 pm