With the walk-to-work concept gaining prominence in the densely-populated cities of India, integrated townships are becoming a hit with home buyers.
Moving to an integrated township in Gurgaon from a rented builder floor in Noida would allow Nitin Sethi more time to be with his family, especially with his three year-old son. His new dwelling is not only convenient, with all material amenities within the premises, but is also at a walking distance from his workplace. Nitin’s move could well have been necessitated with the ever-growing traffic that makes commuting between Gurgaon and Noida an everyday hassle, but then there are others as well who are moving to integrated societies for reasons other than traffic.
Gurgaon resident Mohit Chopra moved from a tony location to an integrated township a few kilometer away because of the rising incidents of crime against elderly. He was worried for his elderly parents.
Property decisions are no longer just being based on the size of the house, but increasingly factors like security, convenience, amenities and maintenance are gaining imortance in the decision making process.
With longer distances to traverse to work and gated societies offering water tight security, 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, integrated townships are becoming a hit with home buyers.
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. The young people crave for an upmarket lifestyle and at the same time want to provide safety for their families.
Looking at the growing demand for such smart living, developers are coming up with more and more high-quality and luxurious amenities for their prospective customers.
Most developers today are seeing a great demand for homes that can provide a holistic living experience for their customers and there is a vast opportunity for integrated developments across Delhi NCR and other leading cities in India.
Elaborating on the concept of integrated township, an official spokesperson of Emaar India said that these townships offer luxurious recreational facilities, along with generous landscaping area, and promote ‘walk-to-work culture’ along with their commercial and retail spaces, thereby adding valuable time to a person’s daily life.
These integrated spaces also encourage Community Living amongst the residents who are able to avail the recreational amenities together more frequently and conveniently. Developers like Emaar India have introduced the Community Living culture with their integrated community spaces such as Emerald Hillson Golf Course Extension road in Gurgaon, and Mohali Hills on the Kharar-Landran-Banur Road in Mohali.
Townships are usually easy on the pockets as well. Since they are built outside the city limits, the cost of land is low, which works in favour of both the developer as well as the buyer. Lower land acquisition costs make township homes more affordable as compared to homes within the city.
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. 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.
From residential to retail, recreational or commercial, everything is there in integrated townships. Now some of these townships are facilitating cosmopolitan living also. An increasing number of people are now opting to rent a house in such townships, translating into better rental yields that are near about 30-35% more when compared to rents garnered by a stand-alone property in the same area.
Ashish Sarin, CEO, Alpha Corp, says, “The concept of integrated townships is gaining momentum in India because of increasing urbanisation and unprecedented levels of saturation in metropolitan cities. In fact, these townships are pegged as the future of the real estate sector in India as they provide sustainable living ecosystem with residential and commercial spaces supported by an infrastructure backbone of power, roads, water, drainage and sewage along with providing access to a gamut of avenues of modern living like swimming pools, joggers’ park, children’s playground, and club house, to name a few.”