Integrated Townships: The new name for residential real estate

 

Integrated townships are the format of the future when it comes to city development. In the next 2-5 years, most metros and satellite cities are likely to see increased launches of integrated township projects. Tier 2 cities and State capitals which see the population from the interiors gravitating towards them are also likely to see such projects.

 


The Indian real estate, especially the residential sector has witness high growth and supply during the past decade, primarily fuelled by the growing demand in key metros like Mumbai, New Delhi, Chennai, Bengaluru, Pune and tier I cities like Nasik, Baroda, Ahmedabad, etc. The limited land availability and the huge unbridgeable gap between demand and supply for individual plots or sites have aided the demand and growth of condominiums, apartment complexes and gated communities.

 

 

The ever increasing population in the metros has also triggered the demand for both owned and rented accommodations. Besides, higher disposable income, improving lifestyle, increasing aspiration levels and expanded knowledge on global trends have made the present new-generation property buyers more conscious about the properties they want to invest in.

 

 

The ultimate solution to this complex issue in key metros and tier I cities lies in integrated townships a concept that has been adopted well and proven in the West and even Far East, for over 3-4 decades, for mitigating mobility issues.

 


What are integrated Townships
An integrated township has comprises of everything under one roof i.e. it has residences, Gardens, Play Park, school, Hospitals, Shopping Arcade, Entertainment spaces, Restaurants, community centre, etc. The most important thing in a township is social infrastructure, good connectivity, estate management, business arcade an integrated township always has this essentials. To elaborate more they are as follows:

 

  • School: A quality school with education up to at least 10thstandard is set up within the township, reducing the travelling time between home and school and in turn providing the children with more time for play and studies.
  • Hospital: A good healthcare facility with at least 50-plus beds and an emergency care is set up within the township, thereby facilitating residents.
  • Recreation: Adequate space for basic sports such as football, cricket, tennis and badminton, fitness facilities including a gymnasium and swimming pools are set up within the township to enhance social lifestyle.
  • Community centre: A spacious, well-decorated community centre with a club house and a function hall is set up within the township.
  • Road network: A well-planned road network both within the township and connecting to the nearest highway or main road is built, thereby easing communication.
  • Water supply and management: A well-planned and sustainable water management system is built within the township, providing round the clock water supply to residents as well as treating the waste water generated within the township and recycling it. This also reduces dependence onmunicipal water supply.
  • Electricity supply and management: Although an integrated township depends on a public or private utility supplier for basic power supply, it has adequate, if not abundant, back-up power for both homes and common areas during temporary or scheduled power cuts or disruptions by the utility supplier.
  • Communication infrastructure: Good quality telecom services are also made available within the township and nearby.
  • Garbage and waste management: Good garbage collection, aggregation, treatment and disposal system is a must for a healthier and eco-friendly township.
  • Infrastructure maintenance: Proper and regular maintenance of roads, pathways, parks, electrical and plumbing infrastructure, children play areas and common areas including community centre is essential for a well-developed integrated township.
  • Security: Superior estate security and safety for all residents is a critical element of an integrated township.
  • Entertainment: Quality cinema or multiplex, popular games and kid entertainment facilities should be established within the township.
  • Shopping Arcade: Well-stocked grocery stores as well as shopping centres including brandedgarment stores, electronic goods should be established within the township.
  • Restaurant: Good quality and hygienic food courts with ample menu options should be established within the townships to cater to the taste buds of all types of residents.
  • Business Arcade: While the intent of an integrated township is always to have the workplace and the residential dwelling in close proximity, in the current context of double-income families, it is practically impossible to achieve this objective fully. However, it can establish adequate, well-equipped office space infrastructure and offer lower rentals to attract companies, banks and corporate houses and create ample opportunities for residents. Apart from this, to smoothen communication between the township and the workplace for rest of the residents, the location of the township should be such that it is easily accessible from various parts of the city.

 

With such types of infrastructure and services, integrated townships will undoubtedly develop the cities across India in more equitable and uniform manner, solving the country’s major urban problems such as bad roads, traffic congestions, inadequate water and power supply and poor sanitation system.
In Mumbai most of the townships are planned in the external parts of the city like Thane, Navi Mumbai, Kalyan, Dombivali, as these locations provide ample spaces with lust greenery at affordable prices. Developers desire to construct townships in such location so that they can provide their buyers affordability with luxury and with all amenities.


Source: Accommodation Times dated Sep 20, 2014