The Covid-19 pandemic has permanently changed habits that may affect demand for real estate. Consumers have shifted from spending high on non-essential goods and services to preserving essentials and making them last longer. The pandemic had a significant impact on the sector bringing it to a complete halt for months. While the sector was struggling with the pause, it provided an opportunity to the homebuyers as home loan interest rates hit their all-time low.
Considering the ongoing demand and low lending rates, the sector is likely to bounce back in another six to 12 months. Keeping strategies like cost optimisation, liquidity improvement, and space design in mind, developers are recalibrating their business models.
The solution?
Real estate developers across are now focusing more on creating budget-friendly properties in the suburban areas with self-sustaining townships and gated community.
Having a beautiful home brimmed with all the necessary facilities is the dream of many home seekers. With increasing population and lack of space in the city, people prefer to move to a place which provides them with a hassle-free life.
The main idea of the buyer before buying a house in the suburbs should be convenience at zero km. Especially, having a school and a hospital at zero km. New-age homebuyers these days prefer to reside in an area that has everything they need for a good lifestyle, from spacious homes, schools & colleges, malls, and cinema halls- all at a stone’s throw away.
Integrated townships: A preferred choice
As the walk-to-work concept gains more prominence in the densely populated cities of India, integrated townships are becoming a preferred choice for many homebuyers. Township living offers a higher-quality of life that is well secured. The amenities, which one needs in a society where he lives, include grocery shops, shopping markets, school for kids, clinic or hospital, and clean water supply.
The township offers ample open spaces, parks, gardens, and jogging track. As the townships are specially designed to offer better living, these areas have good liveability potential. The townships are the self-managed and self-governed areas.
From the residential to retail, recreational and commercial, all the areas are well planned and designed. The air, noise, and water pollution in these areas is bare minimum as compared to the urban cities. There are proper garbage and waste disposal systems, rainwater harvesting, and water resource management systems in the area.
All in all, a gated community is a set-up that offers a cohesive social life coupled with quality residential experience. It encompasses various independent residential properties enclosed within a boundary.
This article is contributed by Rohit Poddar, Managing Director, Poddar Housing and Development Ltd.
(The views expressed here are solely those of the author and do not necessarily represent or reflect the views of RoofandFloor)