Integrated township housing is the future

There's a new trend that has been emerging in the realty markets of south India. Cashing in on the improved market sentiment, developers in south India are offering well-developed township projects. While cities such as Chennai and Bengaluru are obviously getting the lion's share, other cities such as Kochi, Coimbatore, and Mysore are also a part of this growing trend.

Reaping the benefits

So, why are township projects becoming increasingly popular in the south? There are several reasons.

To begin with, the Indian joint family giving way to a nuclear one, all buyers are concerned with the safety of their family and that's where safety in numbers becomes a very attractive proposition, by way of a township project.

Juvenal Dias, vice president, Ernst and Young, who works at UB City on Vittal Mallya Road and stays at Sobha Amber within the Sobha Ultima complex, Jakkur Plantation Road, perhaps speaks for all those who reside in township projects. Dias says, "Knowing that we live in a gated community makes me feel very secure about leaving my family at home. There are so many amenities on offer and the people are cosmopolitan, which is great for our social life, too. The security is really tight and the internal roads are well-maintained. Though it's far from the city, I love living at Sobha Ultima."

That's part of the trend with most townships. They are far from the main city, since such vast plots of land aren't available in the city. Yet there's good connectivity, with many social and retail amenities available close by.

Traditionally, integrated townships have included row houses, villas, bungalows and group housing — all with essential urban infrastructure and amenities — at different price points for consumers.

Today, they include all manner of ancillary facilities too, such as commercial premises, hotels, recreational and retail services.

Sizeable incomes and higher aspirations

Apart from the change in family structure, growing income levels have also led to a change in consumer profile. The more affluent consumers today want an increasing list of amenities, such as swimming pools, clubs, landscaped gardens, round-the-clock security and housekeeping. An integrated township can offer all this and at a relatively affordable price, thanks to the economies of scale.

But just how far are developers going to lure this new breed of customers? Quite far, it would seem.

The stuff of dreams

Hiranandani Palace Gardens, Hirco's 251-acre residential township in suburban Chennai, to be constructed over three phases, is to feature a richly landscaped Grand Entrance Boulevard, leading to elegant multi-storey residential towers and low-rise apartments set within manicured gardens. Palace Gardens is to be spread across 21.5 million square feet of residential space in a wide range of one-, two-, three-and four-bedroom apartments, penthouses and garden apartments. They expect their catchment area to be the employees of major companies located within the key location of Oragadam.

Incidentally, Oragadam is seeing several township projects. Centrally located between Grand Southern Trunk and NH4, it is one of Chennai's largest and most developed industrial belts. It has the presence of more than 22 Fortune 500 companies (of which six are global car manufacturers); the Sriperumbudur-Oragadam belt has seen tremendous industrial growth in just a few years.

The area is well-connected via road and rail. Apart from Palace Garden, there's also Arun Excello's Temple Green and Inno Geo City, spread across 131 acres, being developed in Oragadam. Vascon Engineers Ltd., too, in association with Balakh Realtors Pvt. Ltd., is in the process of developing a 105-acre township, pegged at Rs20 billion (about Dh1.66 billion).

On the other side of the spectrum, there's Globevill Township, from ETA Star, which is less than one kilometre from the entry point of the Sipcot gate in Sriperumbudur. Located next to a beautiful natural lake, the Globevill Township is spread across 82 acres and boasts apartments, villas, an international school, commercial spaces, a business hotel, hospital, round-the-clock security and a sewage treatment plant.

VRCL Assets & Holdings Limited, belonging to the IVRCL Infrastructure Projects group, has launched its 700-acre golf-centric township project called ‘Aavisa' just off NH-4 at Sriperumbudur, an hour's drive from Chennai Airport.

New concepts

Eden Park is part of L&T South City projects. This project, which is about 100 acres, is near Siruseri on the OMR (old Mahabalipuram Road). Eden Park is promoting a new concept called villapartment, in which the luxury and privacy of an independent villa is combined with the convenience, maintenance and security of an apartment.

In Bengaluru, Bhartiya Group recently launched Bhartiya City — Urban Life Spaces, a 125-acre integrated township in north Bengaluru. Bhartiya Urban is a joint venture between the Bhartiya Group and IL&FS — a pioneering player in the organised infrastructure sector. It will offer integrated urban life spaces of 20 million square feet, covering commercial (including retail and hospitality) and residential, along with a school and hospital. The master plan is by Perkins Eastman of New York and Cox Associates of Sydney. Snehdeep Aggarwal, founder-chairman and managing director of the Bhartiya Group says, "It's not about making buildings; it's about understanding the needs of the people".

In Bengaluru again, Sobha Developers Ltd. recently announced Sobha Forest View, in Banashankari Extension in south Bengaluru. This gated community, spread over 13.28 acres, comprises three elegantly crafted blocks with a total of 492 apartments — all three bedroom units. The apartments are classified into luxury (Pine), super luxury (Maple) and super luxury-plus (Oak) type of homes. There will be a 100 luxury units, 240 super luxury units and 152 super luxury-plus units, with a built-up area ranging from 1,500 square feet to 2,250 square feet.

Properties in Kerala

Sobha Developers is also setting up an integrated township, around a man-made lake, near Thrissur, Kerala. The 55-acre, three million square feet Sobha City surrounds a 6.5 acre lake. The living quarters are divided into villas and four-room and three-room apartments, with a plinth area of 4,000 square feet, 3,000 square feet and 2,100 square feet, respectively. The project is located on the Thrissur-Guruvayur highway.

Sahara Prime City Limited is developing Sahara Grace, a residential complex at Kochi. It is offering a product mix of apartments and penthouses, and is located on Seaport Airport Road, Kakkanad. The project is spread across 14.72 acres. With a total built-up area of approximately 1,68,670 square metres, the project comprises a mix of two- to four-bed room apartments, three- and four-bedroom duplex apartments and penthouses. Along with the regular township facilities, there's a helipad as well as multi-level car parking.

More choices for the middle class

UAE-based realty major Rakeen and Chennai-based Trimex Group, with their joint venture Rakindo Developers Pvt. Ltd., are building their first integrated township project in Coimbatore, Tamil Nadu. The 1,000-acre Kovai Hills township project will also feature a luxury resort and a spa. The company will also create affordable housing alongside the main project.

In fact, affordable pricing will determine the success of many of these development projects. Padma Iyer, deputy editor of Galatta Cinema and manager content of Galatta.com, says, "We had been looking at quite a few properties in Chennai. The only reason for purchasing our flat at Jain Naksatra was that it fit into our budget and the location was fine. Our life is definitely more relaxed here."

Taking a cue from customers such as Iyer, companies such as the Chennai-based VGN Developers, which has launched a 17-acre residential complex near Ambattur, the industrial belt on the outskirts of west Chennai, is offering more affordable properties. VGN's project, Platina, is a mini township, priced between Rs2,099 per square foot and individual houses for Rs2,699 per square foot. The project will have more than 610 apartments, ranging from 650 to 1,200 square feet.

Embassy Property Developments Limited is developing, through its associate company, RGE Constructions and Development Private Limited, Embassy Residency, Chennai, which covers 25 acres. Embassy Residency is located in Perumbakkam near Chennai. The project comprises 2,037 two-bedroom apartments, 556 three-bedroom apartments and 528 units for the Economically Weaker Section (EWS).The project has numerous eco-friendly features such as atmospheric potable water, rain water harvesting, and energy saving devices such as solar power water heaters and yard lighting, said a company spokesperson.

Whatever your needs, there will be a township in south India to suit them. And if what you're looking for isn't available right now, odds are that it will be soon.