Developers offer a plethora of projects in gated communities as well as standalone towers. Both kinds have their pros and cons that would differ from varied points of view of developers, investors and buyers; they are modern, self sufficient and fully equipped. No longer are such properties available only to moneyed HNIs and NRIs and the simple reason why township projects are gaining demand is their affordability to middle class. Developers across the nation have re-discovered that the township model is going all out to develop little towns on the outskirts of cities due to land parcel availability.
There are numerous township projects in Pune. Buyers are now open buying to residential property solutions that allow them to reduce the impact of the city’s challenged infrastructure. These townships are, by nature, self-sufficient and self-supporting in most civic and social infrastructure aspects, and are patronized by an up-market segment of property buyers.
Let us run through the benefits of buying a home in township project
Merits of Owning a Home in a Township
The amenities that these townships are offer are the greatest pull factor for buyers. From premium clubhouses to gymnasiums, play areas for kids, Outdoor Sports facilities, large open spaces for cultural activities and many more. Townships offer open spaces parks, gardens and jogging tracks.
Larger townships have grocery shops, shopping markets, school for kids, clean water supply and provision of at least the main things. Food, shelter and water are readily available in these areas. There is good scope for fitness and recreational activities within the township. Social functions can be arranged easily in the community hall in an apartment complex
As an apartment complex has spacious social spaces like club, games room, garden and community halls where you regularly meet and interact with other like-minded residents, you can feel as if you are a part of an extended family.
As these are specially designed to offer better living, these areas have a good liveability potential. The presence of these amenities freshen the environment and makes the living area eco-friendly and more comfortable.
Townships offer better and well planned infrastructure for its residents. The environment is made better by dividing the whole space into different sections and making sure that the overall blueprint of the society isn’t crowded or complex.
One of the main advantages of living in the township area is to enjoy the better quality of life there. The townships are well maintained, clean, houses are spacious and sufficient, and you get what you need within the premises generally. There is no botheration to venture outside for petty work.
The townships are the self-managed and self-governed areas. From the residential to retail, recreational and commercial, all the areas are well-designed. Generally there is an elected Association that takes care of the administration of the township. The administration is responsible for setting the township rules, protecting the environment here, meeting the residents demand and providing them the essentials of life.
Townships offer free and secure living. This is because of the great security and safety measures that are taken by the township’s administration. They keep a check on the visitors in a respectfully and make sure no intruder gets in the areas. The CCTVs, 24/7 monitoring and services of the security guards make the area safe to live. The chances of robbery, burglary and theft are reduced to a minimum and it is made sure that every house, shop and all the people are protected. There is round the clock security.
For a family with children and/or aged members, this is a boon. Even with families where the husband or the wife needs to travel frequently, the excellent security set up in a township offers better peace of mind.
One of the biggest advantage of owning a flat in township is breathing in fresh, non-polluted air. The air, noise and water pollution in these areas is next to zero if compared to the other areas in the city. There are proper garbage and waste disposal systems, sewage treatment, rainwater harvesting and water resource management systems in the area.
Living in your own house calls for frequent maintenance & repair services. It has been observed that the cost of maintaining an independent house is more than that required for an apartment property, as the maintenance is taken care by the society’s RWA in an apartment project. Because of the pooled resources in a residential complex, the cost of services reduces drastically.
Townships have well-maintained gardens, walkers’ and/or joggers’ tracks and landscaping as part of the complex, so you and your family can relax.
Offering the every amenity you need, proximity to conveniences and better living quality is what makes these flats in townships a better investment option when it comes to ROI. These flats offer better sale prices and rentals are good too.
Property as an asset class takes more time to resell. And the task may become a herculean one if it is an independent property. Flats within townships are now more in demand. Even Tier-II cities are witnessing such developments. If you decide to sell your property at a later stage, it would be easier to sell an apartment.
Let us now discuss the drawbacks of standalone building.
Demerits of Standalone Building
Whether you call it a city within a city or the suburb area of a large city, the Indian townships are doing well and their demand is gaining momentum. In a city like Pune, townships make more sense than standalone buildings because they are the most modern and sustainable model of urban growth and to a better way of living.
Now that you are aware of where you should be putting your money on, all the best!