Developers focus on integrated townships
Amid a depression in demand for residences, builders and international property consultants have started realising that ‘integrated townships’ are the next trend across the country.
Even as DLF Ltd is planning to develop 4,840-unit ‘Dankuni’ township in Kolkata, the Housing Infrastructure Development Corporation (HIDCO) is constructing 9,334-unit ‘Rajarhat’ township in the outskirts of Kolkata.
Emaar Group is planning to develop 520-unit ‘Boulder Hills’ township in Hyderabad. Parsvanath also is planning to develop 2,500-unit township in Chennai. This is according to a recent market overview done by Jones Lang LaSalle Meghraj.
According to the review, Ascendas is planning to set up 5,000-unit township in Chennai. Suncity is also in the process of acquiring land and to develop a 1,500-unit township in Delhi. Uppal Chaddha is acquiring land to construct 2,700-units township in Delhi. Unitech is planning to develop 1,050-unit Unitech township in Chennai. BPTP’s 1,200-unit BPTP Parkland township is fully sold out. Hiranandani Gardens by Hiranadani Constructions in Mumbai with 200-unit is already operational.
Abhishek Kiran Gupta, head - research, Jones Lang LaSalle Meghraj, said, “Integrated townships are efficient vehicles of social integration while offering the necessary infrastructure as it saves commuting time and cost of transport thus offering higher levels of comfort. Residential conditions in our larger cities are on a decline. There is a general shortage of infrastructure along with increased air, water and noise pollution and a rash of illegal and unorganised structures is cropping up. Citizens are facing problems to reach emergency services, finding adequate parking and traversing pothole-raddled roads. If properly planned and executed, integrated townships are definitely the answer to India's growing housing woes, since they are efficient vehicles of social integration while offering the necessary infrastructure.”
The government of Maharashtra has laid down specific guidelines for township development. It includes 100 acres as minimum requirement area apart from infrastructure and public utilities to be provided by the developer. Provision for water should be to the tune of 140 litres per person. Park, garden, playground should be 20% of total area.
Besides, amenity space should be 5% of total area. Housing component should include minimum of 60% of total area and commercial component should be properly distributed.
The average age of a home buyer has reduced from 35 years in 1980s-90s to 27 years from 2000 onwards. Currently, there are challenges galore in the Indian real estate market.
It includes, demand and supply mismatch whereby in large cities there is more demand and less supply, as compared to less demand and more supply in smaller cities. Besides, rising construction costs is shrinking developers margins.
Even as DLF Ltd is planning to develop 4,840-unit ‘Dankuni’ township in Kolkata, the Housing Infrastructure Development Corporation (HIDCO) is constructing 9,334-unit ‘Rajarhat’ township in the outskirts of Kolkata.
Emaar Group is planning to develop 520-unit ‘Boulder Hills’ township in Hyderabad. Parsvanath also is planning to develop 2,500-unit township in Chennai. This is according to a recent market overview done by Jones Lang LaSalle Meghraj.
According to the review, Ascendas is planning to set up 5,000-unit township in Chennai. Suncity is also in the process of acquiring land and to develop a 1,500-unit township in Delhi. Uppal Chaddha is acquiring land to construct 2,700-units township in Delhi. Unitech is planning to develop 1,050-unit Unitech township in Chennai. BPTP’s 1,200-unit BPTP Parkland township is fully sold out. Hiranandani Gardens by Hiranadani Constructions in Mumbai with 200-unit is already operational.
Abhishek Kiran Gupta, head - research, Jones Lang LaSalle Meghraj, said, “Integrated townships are efficient vehicles of social integration while offering the necessary infrastructure as it saves commuting time and cost of transport thus offering higher levels of comfort. Residential conditions in our larger cities are on a decline. There is a general shortage of infrastructure along with increased air, water and noise pollution and a rash of illegal and unorganised structures is cropping up. Citizens are facing problems to reach emergency services, finding adequate parking and traversing pothole-raddled roads. If properly planned and executed, integrated townships are definitely the answer to India's growing housing woes, since they are efficient vehicles of social integration while offering the necessary infrastructure.”
The government of Maharashtra has laid down specific guidelines for township development. It includes 100 acres as minimum requirement area apart from infrastructure and public utilities to be provided by the developer. Provision for water should be to the tune of 140 litres per person. Park, garden, playground should be 20% of total area.
Besides, amenity space should be 5% of total area. Housing component should include minimum of 60% of total area and commercial component should be properly distributed.
The average age of a home buyer has reduced from 35 years in 1980s-90s to 27 years from 2000 onwards. Currently, there are challenges galore in the Indian real estate market.
It includes, demand and supply mismatch whereby in large cities there is more demand and less supply, as compared to less demand and more supply in smaller cities. Besides, rising construction costs is shrinking developers margins.