Townships are a new property mantra in India, and for the
bigger cities they're without any doubt the sole remaining hope for good
quality living standards. Slowly but surely, residential quality of life in
cities like Pune are on the decrease, and township properties are rightfully
getting increasing importance as the most logical response to the increasing
need for quality-based living.
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| Anil Pharande |
In cities such as the Pimpri-Chinchwad Municipal
Corporation, the ‘Infrastructure First’ strategy being employed by the
governing authorities since several decades has served to provide highly
adequate living conditions for PCMC residents. On the other hand, the Pune
Municipal Corporation (PMC) has not been able to keep up to speed on its own
infrastructure scenario. The heedless way with which real estate development
has been taking place in Pune has not only resulted in a veritable concrete
jungle but also made problems like traffic congestion, air and noise pollution
and also water depletion much worse over the past several years.
PCMC - The New Townships Capital
In this depressing scenario, the massive integrated
townships being developed in the booming city of PCMC has offered Pune's
citizens a new and invigorating lifestyle standard. In the PCMC, the integrated
township revolution started in areas like Ravet and Moshi, and today the city's
leading developers have also established high-end townships in Punavale and on
Spine Road.
Though negligence and greed are definitely operative
factors in the illogical way the Pune Municipal Corporation has been
developing, it also has certain limitations. In the first place, integrated
township projects require substantial acreage, and large plots have essentially
been completely used up in the central regions of the PMC. As consequence, the
focus has now shifted to the Pimpri-Chinchwad Municipal Corporation, where
superlative support infrastructure, affordable property rates and a scientific
approach to real estate development still make townships a very workable
proposal.
In integrated townships, the issues are infrastructure
shortfall and deteriorating living conditions are totally negated. These
projects provide an extremely high grade of living standards, set to the
backdrop of tasteful natural surroundings and adequate open spaces.
Providing township-level facilities in smaller
residential projects would entail prohibitive prices for the developers – and
the cost escalations would have to be passed on to the property buyers. Such
facilities would immediately boost a smaller residential project into the
luxury category, with consummate price implications to buyers. However, as a
result of the economies of scale, township developers in the PCMC are giving
the township lifestyle option to buyers at prices that reasonable and
attractive.
High-quality infrastructure, open spaces and instant
accessibility to every requirement of day-to-day living in these townships
result in a first-class lifestyle equation since all residents in a
township gain from one big integrated and centrally managed system.
Township Properties - Higher Price but Ultimate Value
As already mentioned, when a builder offers township-level
facilities in smaller housing projects, the prices to consumers are comparable
to those of high-end luxury residences. In townships, the vast variety of
facilities, fully-integrated infrastructure as well as the availability of
schools, hospitals and shopping complexes within the premises obviously means
that township properties come at a price that is somewhat higher than standard
multi-storey flats. On the other hand, the added expense is vindicated by the
reality that people who buy into township properties are guaranteed a greatly
superior living standard – not to mention vastly higher yields on investment.
For property buyers who just don't desire to compromise
on their lifestyle choices, the township properties of PCMC are the most
logical and intelligent options. The direct benefits include a healthier life
thanks to open spaces and greenery, complete security, the guarantee of
high-grade infrastructure and facilities within the premises, and instant
accessibility to recreational facilities and retail outlets. This results in a
very high measure of convenience and comfort within an entirely cosmopolitan
ethos.
By Anil Pharande,
Chairman,
Pharande Spaces.
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