The township concept is one that holds a huge potential when it comes to real estate in Pune. Of course, Pune is no stranger to integrated townships. Since this is an evolving concept, there are several new formats to be experienced within this segment.
What exactly is a township?
Simply stated, it is akin to a modern town within a city. A township comprises residential apartments in different configurations, independent homes, retail outlets, offices, entertainment arenas, schools, hospitals, and a lot more. Typical residential options in a township could be studio apartments, 1, 2, 3, and 4 BHK homes, and row houses. Once the project is ready, it is privately managed. This means that the decision making process pertaining to various issues is much faster.
There is a separate set of rules that governs townships. Depending on the size and location of the project, there could be as many as 30-40 regulatory approvals that need to be obtained by the real estate firm developing the project.
While customers might have to pay slightly more for a home in a township, they also stand to benefit from the advanced private infrastructure that is available to them. For instance, they have access to private schools, hospitals, fitness centers, private roads, playgrounds and lot more. All these things benefit them in the long run.
Township trends in Pune
There are certain builders that have come up with new ideas to make townships more customer-friendly. For instance, a reputable real estate developer from Pune launched a concept wherein they took actual feedback from customers and incorporated it in their newly launched township in Mahalunge, Balewadi. With such innovative options available to customers, it is not surprising that many of them now prefer a township when they want to buy property in Pune.
Most townships today are spread over an area of at least 100 acres with almost half of the total area being reserved for green pockets. Such eco-friendly townships abound in Pune. Real estate in Pune has always been dynamic, and more so after the advent of integrated townships.
Location and prices of townships in Pune
The price of a 2 / 3 BHK flat in Pune could cost anywhere between Rs 55lacs to Rs 80 lacs depending on the specifications, area of the apartment, and the amenities being provided. The independent homes would cost upward of Rs 1 crore. Considering that these projects are spread over hundreds of acres, they are located in the up and coming locales of Pune. For instance, you would find townships coming up in areas such as Balewadi and the environs of Hinjewadi.
Thus, the township concept is ideal for working professionals, NRIs, and retired persons looking to invest in real estate in Pune. However, when one decides to buy property in Pune, it must always be from a reputable real estate firm that has carved a veritable reputation for itself.
Townships are the Latest Trend in Real Estate in Pune