Satellite townships gaining ground
As the concept of community living picks up, builders are looking at township-sized, large residential projects located away from cities.
As a concept, this is not new. Even decades earlier, townships were promoted when mega industrial projects came up, such as the Neyveli Lignite Corporation's power plant, the Atomic Power Plant at Kalpakkam or the BHEL unit near Tiruchi
Such townships were mostly formed by the Government as it was the promoter of mega projects and townships with housing, educational and healthcare facilities for employees, which worked as incentives to attract talent.
In recent times, gated communities within or close to urban centres have become a big hit as they provide security, enable peaceful living and offer modern facilities. But private developers building townships are now gaining in popularity and if they come with a touch of industrial or commercial space added to it, the project are all the more welcome.
In Coimbatore, a mini-version of this concept lifestyle township ‘Aurora' launched by True Value Homes India Pvt Ltd (TVH) recently saw a huge response and the single and two-bedroom apartments offered in the first phase were sold out within a week.
Explaining why builders are drawn towards such concepts, Mr Wilson Mathews, Director-Sales & Marketing, TVH, Chennai, said builders were interested as they saw an opportunity to ‘create a new society', a new ‘life style'. While this helps the cities to be de-congested, it also enables families to live in harmony. For the builders taking up such projects, the major incentive is the lower land cost.
The state is also a gainer in that it is helped in domestic development and also improves infrastructure details. The first-time buyer is able to find a home that fits his pocket and the townships help society becomemore organised.
Mr Mathews, asked whether such cities will be more like cyber cities, offering IT/BPO space limiting their appeal as industries such as auto, engineering cannot be located at any spot, said for consistent growth it was important to look at all industries as the economic cycle was different.
While IT is more a global player, auto and other engineering industries are more dependent on domestic demand. Hence, it is ‘prudent the townships are promoted' even in auto and engineering hubs.
For instance ‘Svaya' promoted by TVH was located in the auto /engineering industry belt — Sriperumpudur — and the company has seen a lot of units being bought by working executives who now travel two hours to reach their work place. This helped infrastructure, industrial and residential developments to take place simultaneously.In Tamil Nadu itself, apart from Chennai, he said that such township projects closer to cities such as Tiruchi, Madurai and Coimbatore would find good demand because apart from employment, facilities such as education and healthcare would be easily available.http://www.thehindubusinessline.com/iw/ ... 200900.htm