Integrated Residential Projects: A new mantra in Indian real estate
Integrated Residential Projects are more or less like Integrated Township. Integrated Residential Projects offers home buyers everything they need for a comfortable and healthy lifestyle. Integrated townships are best explained as clusters of housing and commercial businesses with infrastructure.
In this kind of townships 90 percent of buyer’s requirement gets fulfilled as these models include residential space coupled with amenities like schools, clubs, parks, restaurant, hospitals, retail facilities and commercial office space. In short, home buyers need not have to go out much to meet their daily requirements.
Integrated Residential Projects is the new mantra for the Indian developers. India has been witnessing innovative ideas incorporated by developers. The real estate market is perhaps going to take a shift with the increasing interest in integrated townships, which is city within a city concept.
Integrated Residential Projects are also expected to give higher return on investment as the homes are self sufficient. The appreciation in price is almost 30 percent more in such projects when compared to standalone structures.
Apartments under luxury segment is likely to get a push with the development of more number of integrated township projects where home buyers can avail maximum of their needs under one roof.
Real estate developers who are dealing with integrated township projects have to face quite few challenges. They have to provide the advantages of integrated townships while having to sacrifice the considerable incentives that the Indian Government offers for the development of larger township.
The initial capital required is extremely huge right from land acquisition to the providing of physical and social infrastructure. The concept has just begin to emerge on the India real estate landscape. The first integrated township was in Pune.
Some of the township projects in Bangalore include Bhartiya City, nera Hebbal, Sobha City, near Hebbal, Brigade Orchards in Devenahalli, Provident Welworth City on Yellahanka-Dodaballapur road and Divyasree’s 77East, near old Airport Road and DLF My Town at Rajapura, close to Electronic City.
Bhartiya City is the biggest integrated township in Bangalore and will house apartment blocks, an SEZ, multiplexes, malls, office buildings, five star hotels, schools and hospitals. The entire project is expected to be completed within a decade from now. A two-bedroom apartment will cost about Rs 45 lakh while a three bedroom will cost about Rs 70 lakh.
Brigade Orchards is located in Devanahalli. The project offers 4 BHK villas very close to the airport. It is a well laid out multi faceted township. Each villa is designed to respect the environment. The price of the villas ranges from rs 2.9 crores to Rs 2.91 crores.
Divyasree’s latest offering 77° East is Bangalore’s only master planned “Livable Luxury” gated community within city limits, with only 77 pre-designed & customised private residences. The project is located at Marathahalli. The price of the apartment ranges from Rs 6.2 crores to Rs 6.29 crores.
Provident Welworth City is located near to airport, and there is lot of development happening in that area. A decade ago Dodballapur road was nothing but nowadays there is great demand in that region. Provident Welworth City offers affordable 2 and 3 bedrooms flat with all modern amenities. The price if the apartments ranges from Rs 23 lakhs to rs 30 lakhs. Apartment cost ranges from Rs 3 crores to Rs 4.15 crores.
DLF My Town is an integrated township project in 75 acres of land spread along the Hennagara Lake and is in the proximity with Bicon, Cipla campus and many reputed schools and hospitals.
Over the next two-five years, most metros and satellite cities are likely to see increased launches of integrated township projects
