Mumbai based developer Rustomjee has emerged as a notable name in the real estate sector. The company’s eco-centricity is evident in all aspects of their properties. Percy S Chowdhry, Director, Rustomjee explains the trend of integrated township projects that is slowly gathering momentum in India.
The term integrated itself explains the availability of essentials required to lead a life within accessibility. More and more consumers are exploring amenities like, swimming pools, clubs, landscaped gardens and 24 hours security. Due to huge demand coupled with economies of scale, an integrated township offers all these amenities that too at a relatively low and affordable price. These self-contained townships essentially feature schools, hospitals, parks, leisure facilities, hotels, and retail outlets including exclusive shops for domestic and international brands, supermarkets, restaurants, and cafés. For example, Rustomjee is building two of the largest integrated townships in the Mumbai Metropolitan Region (MMR) –Evershine Global City at Virar and Urbania at Thane. These two townships are spread over sprawling 217 and 127 acres respectively providing amenities for all age groups.
The concept of township is more popular in metros and tier-I cities as the pressure of urbanization is definitely more in these areas rather than in Tier II cities. Tier I cities face shortage of land for residential purpose on one hand and soaring real estate prices on the other. For example, in Mumbai the boundaries for residential places are extending towards Thane and beyond in the central suburbs and towards Virar in the Western suburbs. The integrated townships planned in these areas by developers provide a respite to the flat buyers looking for a convenient living space.
In a city like Mumbai, land acquisition is the biggest challenge and such integrated townships require a large and conveniently located stretch of land in order to provide the aforementioned holistic facilities. One of the main issues that hold up such development projects is that of approval delays. High capital investment although poses a challenge in the beginning, does pay off in the end. It can be said that developing integrated township is a win-win situation for both the developers and the flat owners. What’s more, India is in the midst of a great real estate growth cycle and there is an urgent need to minimize the use of non renewable resources. Sustainable construction is not an alternative to match up the speed of the urban expansion but the only solution for a greener tomorrow. There is an immediate need to address the current situation created by the era which ushered in urbanization, industrialization and commercial growth. In response, Rustomjee thrust is on protecting the environment, maintaining equilibrium and encouraging the use of sustainable measures in the projects and technologies.
Developers today are aiming at providing high-quality affordable housing for India’s growing young and affluent working population and at the same time offering the concept of ‘walk to work’ which is picking up among city dwellers. The integrated townships replicate a city providing all the facilities within its precincts including commercial, recreational and workspaces thereby becoming the preferred way of living. These planned clusters of inclusive developments address the housing and allied social and physical infrastructure need of its inhabitant and also help in meeting the demand for residential and commercial spaces of urban cities.
The distinct feature of our projects is the extensive research on children to create constructive spaces for their well-being. Rustomjee strongly believes that a well built conducive environment which encourages children to play freely, using all of their multiple intelligences, will greatly enhance the all round development of the children.
Global City, Virar has the capacity to house 20,000 families with apartment range of 400 sqft to 1350 sqft. The township has a unique offering for Kids – ‘Yazoo Park’, a 12 acres exclusive amusement park inside the township. It comprises toy train, giant wheel, merry-go-round, game zone, musical fountains, vibrant Laser Shows, mini-amphitheatres for stage shows, floating restaurant and water bodies. Similarly, Urbania, Thane houses a knowledge and activity centre known as ‘Leons World’ that has a full-time child expert. Based on Gardner’s Theory of Multiple Intelligence, Leon’s World is aimed to provide a stimulating environment along with the play way activities.