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ShareNew Delhi: Integrated township is the new buzzword with realtors planning huge investments in projects that they say would reduce pressure on city infrastructure and bring in crores of investment into the housing sector.
An integrated township comprises residential and ancillary facilities such as school, hospital, hotel and retail.
Several developers like Tata Housing, Emar MGF, Ansal Properties and Infrastructure (APIL) and Kumar Urban Development have planned integrated townships in the country.
"In new integrated townships, planners are looking at solutions to increasing pressure on existing urban infrastructure and rapid urbanisation," Sahara Prime City chief executive Sushanto Roy said.
"Sahara has already experimented successfully with the concept of integrated townships at cities like Hyderabad, Bhopal, Lucknow and Gorakhpur based on which we are now developing 88 integrated townships across India, of which nine are already under construction," Roy said.
HIRCO, promoted by the Hiranandanis, has announced plans to invest up to close to Rs25,000 crore in developing two integrated townships in the country over the next 10 years.
The company is developing two projects in Chennai and Panvel, near Mumbai.
"We are going to put in USD4 to 5 billion over a period of 10 years in completing these projects," HIRCO Group CEO Priya Hiranandani Vandrevala said.
"Integrated townships will reduce the pressure on city infrastructure. We plan to develop integrated townships on areas ranging from 100 acres of land," Kumar Urban Development Ltd managing director Lalit Kumar Jain said.
Sahara India group, is currently constructing 88 integrated townships in its first phase, besides many other developers and state governments which are planning to execute such projects.
As part of its integrated township plan, the Andhra Pradesh government has announced allotting over 150 acres of land in areas under municipal corporations and municipalities.
According to research and advisory firm, Cushman and Wakefield, residential demand in the country would be over 7.5 million units by 2013. The residential demand for top seven cities is estimated to be 4.5 million units by 2013.
Of the total expected demand across India, 43% is likely to be generated in tier 1 cities. Mumbai itself is likely to witness the highest cumulative demand of 1.6 million units by 2013 due to various development projects and increasing urbanisation in the city.
