by Sachin Patel, CMD, Swaminarayan Group
The epidemic has underlined the significance of gated communities and township living, providing smart solutions to various urban living challenges. Homes that can meet the demand for medical emergencies provide connectivity during a crisis, and make basic amenities immediately available have become critical. A safe, well-designed, self-sufficient home in a gated community or township that provides serenity, comfort, privilege, and community living is becoming increasingly popular.
Everyone desires to purchase a reasonably priced house in a pleasing neighbourhood. But it's easier said than done. There aren't many affordable properties in major cities.
Though affordable housing can be found just outside of major cities, these neighbourhoods lack basic infrastructure such as roads, schools, and healthcare facilities. Private real estate corporations develop these areas, hoping that the local ecosystem will evolve over time. Homebuyers are hoping for the same thing. But what if the area does not develop as expected?
These risks can be reduced by purchasing a home in an integrated, self-sustaining township. These comprise individual homes, apartments, offices, shopping malls, cinemas, schools, hospitals, and all other amenities found in developed urban areas spanning hundreds of acres. There are also police and fire stations in some townships.
Integrated Township vs. City Living
With cities becoming increasingly overcrowded and running out of space for additional residential and commercial development, integrated townships have been identified as the appropriate solution. Integrated townships are vast and spacious, focusing on creating the ideal living environment for residents and workers.
Townships have a plethora of recreational facilities, such as children's parks, jogging tracks, gardens, and podiums. Residents can access shops, temples, schools, and medical centers in these new-age developments. Today, developers are producing township developments that have an adequate balance of recreational and commercial elements, ranging from residential to retail outlets, to meet the expectations of modern home buyers. Second, the emphasis on infrastructure, in general, motivates millennials, first-time house buyers, and nuclear families to own property in integrated townships. So it's more about living close to your child's school, community centre, stores, and other amenities. These townships help avoid car trips, which equals more sustainable living and time spent with those you care about. It also enhances the family lifestyles, making it more sustainable and away from the hustle and bustle of city life, as well as air and noise pollution.
The lush and plush design of the townships is a combination of commercial complexes, green areas, and elegant residential property, all of which are fundamental components of an integrated township. Along with these amenities, there are numerous other advantages to living in these complexes. These include enhanced social and municipal infrastructure for higher-quality living. Work-life balance is achieved by walk-to-work arrangements that provide access to office hubs around townships in significant micro-markets like central Mumbai. Regarding return on investment, townships provide a more comprehensive range. Townships provide increased security and safety thanks to 24-hour monitoring systems such as cameras put at all intersections, as well as security guards for maximum safety. Townships are self-sufficient, which fosters a communal spirit by way of living together.
Modern Living Spaces
Due to the scarcity of vast land areas, township projects are developed on the outskirts of cities. Many states are pushing these township proposals to relieve pressure on major cities Many states are pushing these township proposals to relieve pressure on major cities and offering lucrative incentives to real estate developers. Some states have also eased their development policies. External commercial financing restrictions for integrated townships are also expected to be relaxed, which will help such developments.
Analysts predict new townships will spring up in cities and suburbs over the next few years. Many such initiatives will likely be developed in major urban areas and state capitals.
It's a concept whose time has come. People in major cities are increasingly open to residential solutions that allow them to avoid infrastructure shortfalls while enhancing their lives.
Self-managed communities are being established to ensure a more sustainable way of life. These projects have proper waste management, 24-hour water availability, and sewerage treatment plants. These townships have a strong emphasis on water and electricity conservation attempts to lower the environmental carbon footprint.
Furthermore, the presence of residential and commercial spaces leads to faster development because the two create demand for one other. As a result, valuations expand faster than in the case of standalone properties.
Community Living
Being a part of a close-knit community has its advantages. Because of the enormous clusters of residential developments inside a township, one gets a sense of security, harmony, and warmth from being a part of a diverse yet welcoming neighbourhood. Festivals and festivities take on new meaning when they are shared with others. The possibility of like-minded people is thus another motivator that makes townships more appealing.
Significant Attraction
Township developers entice purchasers with concepts such as "walk to work," "green living," and "large open spaces."
There are office, retail, and residential spaces in several townships. They also have extensive landscaping and a tranquil setting, which are great selling points.
Another aspect attracting purchasers to these communities is their affordability. These properties are far less expensive than those in prime spots because they are located on the outskirts of major cities.
The gated townships provide homebuyers with a complete living experience, an end-to-end solution for their needs, an integrated lifestyle with a self-contained environment, and the added benefit of neighbouring workplaces. It saves time, provides a hassle-free work commute, and offers fantastic leisure time for work-life balance.
Townships feature round-the-clock security systems, gated neighbourhoods, and video cameras to give inhabitants a sense of security. Some apartments also have a secure creche for children, which is a huge benefit for working parents.
Offering every amenity you require, closeness to conveniences, and improved living quality make township flats a better investment option with a strong ROI. These apartments also have higher sale prices and reasonable rental rates.
Because of their convenience, demand for integrated living would skyrocket in the post-covid era. As more purchasers migrate to gated communities and townships, the residential real estate landscape in India is expected to change in the coming years.
Township living is thriving post-Covid
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