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Rebirth of integrated townships in 2013-VII

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Real estate loans, loan rates by non banking finance corporations, NBFC, Loans to real estate developers, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comTrack2Realty Exclusive: While the concept is being touted as the next big thing for the realty industry, there are both pros and cons to be weighed with integrated townships. There, of course, is the flip side too. Long gestation periods for these projects to take off and reluctance on the part of people to move to an isolated location are challenging from the developers perspective.

From buyers’ perspective the cost of units in these townships is not always lower than the suburban areas of the city. This is because the land cost may be low but cost of creating entire infrastructure in the remote areas is very high which is also passed on to the buyer.

Analysts argue the most viable roadmap would be to develop the project on a public-private partnership with select developers who will be responsible for infrastructure development, construction, marketing, operations and maintenance of the proposed township. Integrated townships would then only hold the key to urban solution.

 Track2Realty ranking of the top 10 integrated township destination cities of India:

  1. Bangalore
  2. Delhi-NCR
  3. Mumbai
  4. Lucknow
  5. Kolkata
  6. Jaipur
  7. Chandigarh
  8. Chennai
  9. Pune
  10. 10. Panipat

Many realtors developing township across the country feel the boost given on development of infrastructure and improving connectivity by constructing highways will open new opportunities to develop both commercial and residential townships. However, they believe that the government needs to adopt a multifold strategy for revival in the real estate sector. Their expectations are:

  • The government must incentivize developers by waiving off development charges and reducing stamp duty and registration costs
  • Explore Public-Private-Partnerships which should be scaled up rapidly so as to match the demand for affordable and integrated townships
  • The developers should get infrastructure subsidies on developing townships as it leads to an overall infrastructure development of the area leading to an increased cost for the developer
  • Clarity in policy and more FDI infusion in township projects

  

Rebirth of integrated townships in 2013-III

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Real estate loans, loan rates by non banking finance corporations, NBFC, Loans to real estate developers, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comTrack2Realty Exclusive: Not all large developments can however, be called townships. A development comprising only budget apartments is an incomplete township. So is one that has only luxury housing. It is essential for a township to have an inclusive character.

The next important aspect is infrastructure and other basic facilities. Connectivity to arterial roads is essential and even within the township, a good road network with proper traffic flow planning, foot paths, service corridors are vital. Among common facilities, a sustainable water distribution system, water treatment, efficient drainage, sewerage and waste disposal systems and integrated security are essential.

Integrated townships also offer features such as balanced mix of facilities for its residents such as accessible open spaces, recreational facilities, medical assistance, school, retail spaces and a community hall amongst others. It also reduces pressure on the urban areas.

Anshul Jain, CEO, DTZ India explains development of integrated townships in the past two decade could be broadly classified into two periods, the initial phase between 2002-04, when a few projects, most of them well received, were launched. In the second phase, after the approval of 100 per cent foreign direct investment in townships under the automatic route, a slew of projects backed by PE funds, were launched.

In majority of these projects the residential units were launched first and were sold at a premium during the real estate boom of 2005-07. Work on these projects slowed down during 2008-11, and the development of commercial and other components were delayed due to limited interest.

No wonder, the performance and track record of integrated townships have so far been mixed, with only a handful of such projects being close to be labeled as model townships. A majority of such townships have been those that are either within existing commercial hubs or in close proximity to these commercial centres. And, of course, these are mostly moderately sized.

“Even such projects with limited scale have also been subject to inordinate delays in execution, sometime running into several years from the original schedule, primarily due to the less than expected demand,” says Anshul Jain.

…..to be continued

Rebirth of integrated townships in 2013-I

Posted on by Track2Realty

Real estate loans, loan rates by non banking finance corporations, NBFC, Loans to real estate developers, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comTrack2Realty Exclusive: Integrated township in the Indian context is a baby that everyone was expecting with their own set of expectations. And hence, within a decade the term was so over-used that it lost its relevance. Any and every mixed land use was projected as an integrated township and it often lacked the basic DNA of affordability, convenience, lifestyle and walk-to-work. As a matter of fact, Trck2Realty noted township projects were also conceptualized by many as safe investments in India at a time when funds were on the look out to deploy and developers needed more projects in the kitty to bag that.

In 2013 amidst the debate between urban sprawls and high rises, where Indian real estate seems to be too focused on the optimum use of land with FSI and FAR norms being relaxed; increasing load on land and overall infrastructure deficit demands has yet again necessitated the rebirth of integrated township.

The question, however, still stands—has the Indian real estate gone through the learning curve and townships in the year ahead would be really integrated?

Some of the analysts tend to believe rebirth of integrated township in the year ahead is inevitable given the fact that India’s urban population is projected to grow to 533 million by 2025, and the real estate sector is likely to grow by almost 30% over the next decade.

Since the housing sector currently contributes up to 6% of the country’s GDP and with the National Urban Housing and Habitat Policy suggests that at least 50 per cent of the population will live in urban areas by 2041, there is a need to create sustainable mobility and infrastructure within townships.

Brotin Banerjee, MD & CEO of Tata Housing asserts the real estate industry has realised the importance of the development of integrated townships, where an integrated approach is adopted in order to deliver better projects to consumers. Developers have realized that concentrating on one developmental aspect, as in the case of cluster housing, will be rendered futile unless a multi-dimensional approach is adopted.

“An integration of a variety of elements such as schools, residences, recreation areas, hospital and retail is what an integrated township approach provides. In other words, consumers benefit from integrated townships as they can enjoy a good lifestyle with all amenities provided under one roof. This enables in achieving a community vision for the development,” says Banerjee.

…..to be continued

Real estate leads Indore market with Rs 250 cr sale on Dhanteras

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Real estate loans, loan rates by non banking finance corporations, NBFC, Loans to real estate developers, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comTrack2Realty-Agencies: Buyers flooded the bedecked and glittering markets and shopping malls since early morning on the auspicious occasion of Dhanteras. Hectic buying continued till late evening and pushed overall sale turnover beyond Rs 250 crore on Sunday, Nov 11, according to a market estimate.

Gems & Jewellery segment grossed Rs 50 to 60 crore, electronics Rs 25-30 crore, garments Rs 2 to 3 crore, utensils Rs 2 to 3 crore, automobile sector Rs 35 to 40 crore, real estate Rs 80 to 90 crore and others around Rs 15 crore. Sarafa and posh jewellery outlets witnessed better than expected response from buyers.

“The market response was quite satisfactory. Sarafa alone grossed around Rs 15 crore till evening. Buying is expected to continue till after midnight,” said Indore Sarafa president Hukumchand Soni. Gold, silver coins, diamond pendants, rings etc remained favourite in this segment. The automobile sector also did brisk business. “Our company sold more than 600 cars models in Indore, Dewas and Ujjain,” said Maruti regional manager A Rai.

According to estimates, Indore alone saw sale of 500 four wheelers and 1,500 two wheelers on Dhanteras. Real estate sector otherwise facing sluggishness for long also got a good response as buyers booked residential, commercial and other properties in large numbers. Prominent markets like Sarafa, Siyaganj, Seetla Mata bazaar, bartan bazaar, etc were decorated by traders and these areas remained crowded with hectic shopping. Another small yet important component of the festive market, bartan bazaar also saw brisk sale as revenue aided by 10% price rise surged to almost double from Rs 1.5 crore business of last year.

Indian firm bags township project in Rwanda

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Real estate loans, loan rates by non banking finance corporations, NBFC, Loans to real estate developers, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndian realty firm Synergy Property Development Services Ltd bagged, through international bidding, a $153-million township development project in the central African country of Rwanda.

As a global project management consulting and turnkey solution provider, the Bangalore-based Synergy will undertake design and project management of Rwanda Social Security Board (RSSB) to build three townships in Rwandan capital Kigali, which has one million population.

“The Rwandan project will demonstrate our leadership in the real estate space and usher in a new growth path for us in the region. Africa is land of opportunities for housing and office space development work,” said Synergy Chairman Sankey Prasad in a statement.

The ambitious project consists of first developing a 157-acre “Vision City” township in Kigali with semi-detached units, luxurious homes, apartments, educational facilities and town centre, including shopping malls, administrative block, public transport terminus, recreation facilities and playgrounds.

“The other two townships at Kinyinya and Batsinda in Kigali will have a total of 700 apartments spread across 250 acres with support infrastructure, including civic amenities, for leading a quality life,” Prasad said.

Under the contract, the company will develop the three projects, including design, engineering, procurement, construction and will be responsible for time, cost, quality and environmental health and safety standards.

“We will commence work in July first week, with a view to completing the first project in 20 months. We hope the project will give us a strong foundation to explore similar opportunities in other countries to become a global player,” Prasad observed.

“Rwanda has an annual housing demand of 25,000 units in urban centres, of which only 10,000 units are supplied. Realising the urgency of the situation, we have put our thrust on Synergy to help us in the development of townships at Vision City, Kinyinya and Batsinda, which are prestigious for our government,” said RSSB director-general Angelique Kantengwa.

Synergy currently has an order book worth Rs.3,000 crore as turnkey projects in India and overseas.

With presence across India, Malaysia and Dubai in the United Arab Emirates (UAE), the company plans to open its offices in Doha in the Gulf.

The decade-old company, which has built over 120 million square feet of property across India and overseas, specialises in executing special economic zones, IT parks, corporate campuses, retail outlets, hotels, hospitals and premium homes.

The RSSB was set as a financial institution in 2010 by merging the Social Security Fund of Rwanda (SSFR) with the Rwanda Health Insurance Fund (RAMA) to administer social security in the country.

Besides managing pension, occupational risks and health insurance, the board provides multiple benefits for old age, invalidity, survivorship, work injuries, work-related diseases and health insurance.

“Our mission is to provide social security services, ensure efficient collection, manage investment of members’ funds while our vision is to have a system that meets the social security needs of all Rwandans,” said Kantengwa.

Future of urban living needs to reinvent-IV

Posted on by Track2Realty

By: Bhavna Modgil

Track2Realty Exclusive

Real estate loans, loan rates by non banking finance corporations, NBFC, Loans to real estate developers, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comThe new concept of integrated townships is now more about a single developer taking over a large tract of land. There are benefits too. “The infrastructure is under the developers’ control,” explains Anuj Puri, Chairman and Country Head, Jones Lang LaSalle India, adding that the developer can plan and use the FSI better, and long-term maintenance is a possibility.

However, some property analysts believe integrated township also failed in the absence of a critical mass (minimum number of people). A hospital cannot be sustainable if there are not enough people, neither can a mall sustain itself. Therefore, some developers work on the equilibrium model where the amenities provided cater to just the population inside. Others provide amenities which can cater to a much larger population, adding value to the neighbouring areas as well.

Sanjay Dutt, CEO-Business, Jones Lang LaSalle India is of the opinion that firstly townships as a fully evolved and implemented concept are still a rarity in India. Apart from the Hiranandani project in Powai, Mumbai and Magarpatta City in Pune, there have been no instances of full fledged townships being launched in the formal configuration. Also, while the township concept is definitely the format of the future for India, it is currently fraught with problems that have a lot to do with the lack of maturity depth in the Indian real estate market.

A typical integrated township includes residential and supplementary facilities such as school, hospital, hotel and retail, which cater to the needs of a buyer. It is the smartest way to decongest the city and reduce pressure. There is hope as there seems to be a significant rise in the number of planned township projects by various leading developers.

However, the future of integrated townships would depend on infrastructure, amenities and quality of development. Zia is cautious, but optimistic, saying, “The very basic success criteria will however be employment creation in the vicinity of the township. The next parameter would be connectivity and support infrastructure from the established city centers”.

Typically, an integrated township must have the following key characteristics and elements:

Social infrastructure: An integrated township always has the basic social infrasructure essentials.

  • School:
  • Medicare:
  • Recreation
  • Community Centre

 Service infrastructure: An integrated township needs to be self-contained in most aspects, essentially on basic infrastructure.

  • Road network
  • Water supply and management
  • Electricity supply and management
    • Communication infrastructure

 Estate management: An integrated township should incorporate a well-equipped estate management.

  • Garbage and waste management
  • Infrastructure maintenance
    •      Security

 Shopping and entertainment: An integrated township is incomplete without shopping centres and entertainment areas.

  • Entertainment
  • Shopping
  • Food courts:

Future of urban living needs to reinvent-III

Posted on by Track2Realty

By: Bhavna Modgil

Track2Realty Exclusive

Real estate loans, loan rates by non banking finance corporations, NBFC, Loans to real estate developers, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIntegrated townships can reduce the burden on infrastructure and provide a fulfilling lifestyle for buyers, at a much reduced cost all round. Gulam Zia, National Director – Research & Advisory Services, Knight Frank India points out, “Of late, the planning authorities and government bodies have realised the importance of integrated townships and are giving special concessions for creation of such townships.

Maharashtra and Karnataka are front runner states, both having formed a policy on integrated townships. According to the policy, the minimum area needs to be 100 acres in both Maharashtra and Karnataka. In Maharashtra, the land conversion will be automatic, there will be a 50 per cent waiver on stamp duty, extra FSI, no height restriction and guaranteed water and power. Here, developers can even buy agricultural land (minimum 100 acres though) and apply.

What has enthused developers and investors alike is the fact that 100 per cent FDI is allowed by the Centre in integrated townships. Lured by the lucrative returns on investments, several foreign majors like the Indonesia-based Salim Group and the Singapore-based Keppel Land Group are making mega-dollar investments. Capital Land, GE, GIC, Israeli Fishman Group, Vornado as well as many hedge funds are investing in different Indian states.

Such townships also offer the prospect of higher appreciation, as these projects adhere to a pre-set development plan with regard to open spaces, social amenities and common areas. This means the overall value of the location does not take a hit because of unrestricted developments that may crop up later.

In the past though there had townships such as Indirapuram or even Navi Mumbai, with multiple developers having stake, not living up to the expectations.  Projects like Crossing Republic failed to offer any solution and instead raised many questions. Experts believe when a consortium of developers attempts it there is a tendency to disagree on a whole swathe of issues which, if not settled in a timely and progressive manner, can lead to the stalling of a large project practically at any stage.

It is generally believed that individual developers have the benefit of being able to take unilateral decisions at all stages of the project, which would indicate that-at least for now-a large township would have better chances of seeing completion if undertaken by a single entity rather than multiple ones.

…to be continued

 

Future of urban living needs to reinvent-II

Posted on by Track2Realty

By: Bhavna Modgil

Track2Realty Exclusive

Real estate loans, loan rates by non banking finance corporations, NBFC, Loans to real estate developers, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comWhat goes into the strategic planning of an integrated township to make it a case study in flagship project? One such integrated township in Mumbai is Kohinoor City at Kurla Vidyavihar. Atul Modak, Head of Kohinoor City says, “What we considered was the need to provide plenty of recreational space and all ultra-modern amenities. It truly had to be a ‘city’ where all their needs and luxuries could be met. And so we conceived the township with a shopping mall, playground, auditorium, banquet hall, schools, hospital, educational complex, an innovative budget hotel with no compromise on service to customers. All this was to make sure that it would not be necessary for them to move out of Kohinoor City for anything. All they would need to do is reach out for them, and this has been done keeping every age group in mind.”

Sanjay Dutt, CEO–Business at Jones Lang LaSalle India agrees, “Residential conditions in our major cities are on an accelerated decline. There is a general shortage of infrastructure, increased air, water and noise pollution, and a rash of illegal and unorganised structures cropping up everywhere. Increasingly, home-owners face problems reaching emergency services, finding adequate parking and traversing pothole-riddled roads.”

“Given this depressing scenario, it has now been established that townships are the most suitable residential solution. The Government is now encouraging the development of such townships to reduce pressure on urban areas and to improve infrastructure. Also, townships attract foreign direct investment and make overall economic sense,” says Sanjay Dutt. Apart from FDI, integrated townships can also access extended commercial borrowings.

Everything in an integrated township needs to be self-sustainable. Many companies across India are planning such large scale, integrated townships, often using specific pegs like the IT and others. And it is not only in tier-I cities, developers are equally bullish on tier-II cities, and the reason is pretty obvious- availability of land on a larger scale and at a lower price.

The size of integrated townships can vary from as small as only 40 acres to some as large as 3,000 acres or more. Experts believe it should be positioned about 7-8 kilometres from tier-II cities and about 20-odd kilometers from tier-I cities. The cost of land about 7-8 km from a tier-II is about the same as land 20 km from a tier-I.

..…to be continued

Future of urban living needs to reinvent-I

Posted on by Track2Realty

By: Bhavna Modgil

Track2Realty Exclusive

Real estate loans, loan rates by non banking finance corporations, NBFC, Loans to real estate developers, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIntegrated township as the future of urban living is an established reality. However, the future of integrated townships depends not only on the infrastructure development, but also creation of overall social infrastructure. Track2Realty delves deeper into the issue to find out the thin line that bifurcates between a successful case study and a dream unfulfilled.

When the infrastructure has been on a roll and the cities stretching its limit, the general argument that the Indian real estate offered has been that it is not the distance but the travel time that is the new criterion to buy a house. After all, the expressways and highways were making commuting less troublesome and hence a visible perception towards suburban living. However, with increasing fuel cost added to the lack of social infrastructure made many such dreams getting shattered.

And it is here that one needs to understand the difference between the suburban residences and the truly satellite town living. To put it simply, the answer 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 addressing mobility issues. Integrated township is a holistic community living concept where contrary to wasting precious hours in commuting, walk-to-work is normally the pattern. An integrated township has everything that families need in close proximity from their homes—shopping malls, entertainment options, hotels, hospitals, schools, offices etc.

In the mad rush of urban landscape where mostly the weak urban planning, lack of public transport, longer travelling time to workplace and inadequate infrastructure adds woes to the property buyers rather than enabling them for a better living, integrated township is the only solution. In most cities, new development areas are not planned properly and therefore do not act as satellite towns, but merely as suburban residential areas.

Take the case of Rajiv Rai, a Chartered Accountant with a multinational software company. He commutes two hours daily to work in rush-hour traffic. He spends as much time, often more, on the journey home. Though driving is his passion, but given the bottleneck in the main city of Bangalore he was frustrated by the amount of unproductive time he spent on road.

Then, his firm took office space in an integrated township on the outskirts of the city. “It was a dream come true,” he says. “This township includes my office and I have taken a flat that is hardly 10 minutes walk. It has a shopping mall, multiplex, hospital, school and most of the necessary amenities within walking distance. Moreover, even when I am out of the city on official tours, I am sure of the safety and logistical security of my family,” says Rai.

The dream solution that Rai got may not be possible for many, despite of such intent in the integrated townships, in the current context of double-income families. It can nevertheless 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.

..…to be continued