Integrated townships in demand
Integrated township has been witnessing a strong demand. The new home buyers are giving more preference for community living that offers a mix of amenities at the doorstep.
The state government has implemented some reforms in the township policy to make townships more reasonable. The new policy has been approved by the Chief Minister and it is made mandatory for special township projects to set aside up to one-fourth of the land for economic activity by the state government.
Experts fees that economic centers are the need of the house as more and more people are moving towards the suburbs and opting for township projects. An integrated township offers essential convenience, security, infrastructure and commercial development to make the life of the people easy.
The localities that will boost the real estate are the extended peripheral areas like Panvel, Boisar, Virar, Ghodbunder Road, Ambernath, Badlapur and Thane. Depending on the size and location, the civic body will plan to hike the FSI for township projects, an FSI of 1.3-1.7 will be provided under the new policy.
Magarpatta City in Pune and Hiranandani Garden in Powai are the two most successful townships in India.
The developers will get attracted by the increasing FSI to opt for integrated township projects. Even the buyers will get benefited by the increased FSI as said by Shailesh Puranik, President, MCHI-CREDAI Thane.
20 percent reservation will be there for EWS which will be handed over to MHADA to gear up the demand for affordable housing. There is an urgent need for housing in EWS and LIG category, so the reservation is definitely going to help to improve affordable housing stock. Integrated township projects are not only going to help home buyers and developers but also the government to reach the goal of creating real affordable housing stock.
Integrated township between Delhi and Jaipur
Integrated townships are new trend in Gurgaon
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