Living in an integrated township: Advantages & Disadvantages
Indian metros like Mumbai, Gurgaon are growing economic hubs. Inward migration that contributes to this economic growth has been increasing. This is leading to scarcity of resources, especially land, forcing the cities to expand. Many consider integrated townships as a solution to the cities’ congestion and planned expansion. Integrated townships are mini cities, on the outskirts of big cities and offer essential facilities like housing, education, work place, shopping, healthcare etc in a relatively small area. Gurgaon is one of the major areas where integrated township is becoming exceedingly popular and well-accepted. Integrated townships are being liked alike by individuals looking for a dwelling place as well as corporate firms looking to open branches and expanding their businesses.
Benefits of living in an integrated township:
Mini City: All the advantages of a city life are offered at a location and everything is available within your reach. From schools to hospitals, all the facilities are in close proximity.
Maximum livability potential: Open spaces, parks, landscaped gardens, jogging tracks and playgrounds offer maximum living potential. Walk-to-Work possibility has also enhanced work and life balance.
All services under a single roof: The elements of shopping complexes, entertainment hubs and corporate outlets are brought together at one place.
Sustainable Living: Apart from cutting on the traveling time, money and effort, integrated townships provide an added advantage of development. Integrated township leads to overall infrastructure development in terms of waste management, rain water harvesting and secure environment etc.
Enhanced Security: Security is a cause concern for several families especially those who have young children or/and older people at home. Installation of electronic security systems which work 24X7 in addition to security guards at every gate offer peace of mind.
Better Lifestyle: 24 hours water and power facility as well as a chance to avoid the urban chaos like conveyance and traffic problems has made living in an integrated society a different experience altogether.
Better ROI: As compared to standalone buildings apartments in integrated townships offer better return on investments. They also offer handsome potential rental income prospects.
Disadvantages of living in a township:
Costly: Buying a flat in a township can cost you 10-15% more as most of the township Indian properties are most expensive than standalone properties at the same location.
High maintenance charge: The monthly or annual maintenance charge can pinch your pocket. Most of the townships levy substantial maintenance fees as civic amenities such as street lighting, sewerage are under the township management.
Longer construction Period: Township projects in Bangalore are capital intensive and therefore developed in phases. Funding problems and regulatory issues might also delay project construction.