children—it seems a win-win situation for both the developer and
Experts are unanimous in their view that this is a natural progression and a signpost to the future. Says Samir Chopra, chairman, RE/MAX India, an international property brokerage and analytic firm: “The concept of townships has emerged as a result of saturation of the main cities, where there is a scarcity of housing. In addition to this, the prices in the main cities are out of reach for the middle class. As a result, real estate developers have started creating integrated townships in the periphery/outskirts of the main city with all basic amenities, infrastructure and public utilities that a family needs. This is definitely a good substitute till the government takes a mass initiative to urbanise undeveloped areas.”
Shravan Kumar Govil, CEO-RFA (real estate specialist and financial advisor) at REPL, a project management consultancy firm, which specialises in urban planning and architecture, feels such a shift offers developers the scope of providing a wide product range to potential clients along with a complete range of facilities and infrastructure. “Townships offer a complete package to clients, including recreational facilities and large green areas, which adds to the value of homes and creates better living spaces,” he says.
Most prominent developers with a long-term view of the market are currently building townships, some are 50 km from the nearest city, but close to an industrial park or adjoining a highway. Townships by their nature are self-sufficient in all respects and those located near a highway provide access for those who work in the city. In most cases, like OneHub Chennai, they offer a walk-to-work option, thanks to industrial park zones that are next to the townships. The other advantage, especially for buyers, is that there are a range of residential offerings to suit every pocket, from apartments to townhouses and villas. The size also allows the inclusion of recreational facilities like golf courses, which require large, open spaces. In most cases, the homes are designed by a well-known architect who ties up with the developer for a series of projects.
Building townships is also