There is new era of integrated township started in Indian Real Estate. This new phenomena has been catching the attention of real estate buyers who wish to receive basic needs like education, shopping infrastructure and health care in a single project. Let’s get insight of these self-sustained ventures and their popularity.
Township: No doubt, India has witnessed the tremendous growth in real estate as a result of urbanization and industrialization over the years. Even constant increase in population has been pushing enormous rise in demand for real estate and infrastructure. Of lately, the needs and priorities of people towards properties has been changed. Earlier real estate buyers used to satisfy with standalone properties but now they look for a package wonderful as a whole including luxurious branded residences along with high-end retail spaces and grand corporate suits. The concept of integrated township caters to such needs and brings the new wave of trend where a residential parcel is combined along with a commercial establishment, entertainment zone and corporate space.
The New Wave: The New Wave Townships are the future of residential real estate. Investors willing to park their money in township projects should look for the right combination of factors that will be useful for them. With the entry of private real estate developers, the Indian property sector is witnessing major changes and is prospering. Modern townships and other development projects by private players have revamped the realty sector. The country is witnessing a new phase of development that is not only restricted to metropolitans but is also spreading to tier II and tier III cities, although the real estate property of Bangalore has been witnessing maximum growth over the last few years.
The altering trends, growing needs, changing habits and the desire to rise socially – all these factors play a crucial role in deciding what a buyer opts for. Integrated townships not only offer awe-inspiring infrastructure with amenities galore but there are also provisions like schools, hospitals, gymnasiums, clubhouses, swimming pools and shopping complexes to uplift the residents’ standard of living. Townships also decrease the socio-economic divide among the occupants by presenting similar residential units and providing same facilities to all. People feel highly secure being residents of group housing societies that offer a healthy & progressive environment for occupants. Today many of renowned real estate developers like Sikka are coming up with this one-of –kind townships along with eco-friendly environment and vast open spaces.
Townships lure NRIs: Non Residential Indians have been increasingly giving back to their homeland. They consider it as a safe investment that gives them a sense of security. This trend has massively increased with the downfall of the Indian Rupee. NRIs are making most this opportunity and parking money in the Indian property market. NRIs are also drawn to the larger interest rates on Non-Resident External and Foreign Currency Non-Resident deposits. Foreign investors seeking to buy a unit in a township project must study all parameters in detail and should remember huge land parcels for townships are rarely available in the midst of the city. But that should not compel you to buy a house in a development that is far away and cut off from the main city. Potential investors who wish to become home owners in one of the residential units of a township can seek financial aid from banks. The Indian property sector is expected to expand to US$ 90 billion by the year 2015 and FDI is likely to grow six-fold to US$ 30 billion in the following decade, making Indian townships a haven for investment.
Reference URL: http://realtybiznews.com/indian-real-estate-welcomes-the-trend-of-townships/98723816/