Future of Indian Housing

    Date:

    Share post:

    Authored by Akash Pharande, Managing Director – Pharande Spaces

    India’s urban population explosion is causing its bigger cities to burst at the seams. Overcrowding, pollution, traffic congestion, and deteriorating infrastructure are the ‘new normal’ – a state of affairs that we have begun to accept as inevitable.

    According to the United Nations, about 40% of the Indian population will live in urban areas by 2030. The pressure this puts on housing, transportation, and basic amenities in our cities is immense. Because of these urban ‘growing pains’, many citizens have become disillusioned with their cities and are even considering moving to smaller, less crowded, and less expensive tier 2 and tier 3 cities.

    However, there are two catches to this way of thinking – one, most employment opportunities are in our larger cities. Two, the hammer of development is bound to catch up even in the smaller cities. Is there a way for citizens to regain a wholesome, uncluttered lifestyle without abandoning their cities of choice? There is. Integrated townships are a viable solution. But before we get into that, let’s first examine the real-time challenges that our cities increasingly face.

    Traffic Congestion

    India’s cities are notorious for their traffic woes. In cities like Mumbai, Delhi, and Bengaluru, residents spend hours in gridlocked traffic every day. According to a 2021 report by TomTom, Bengaluru ranked as the sixth-most congested city in the world, with commuters spending an average of 71% extra travel time during rush hour. This congestion takes a toll not only on the economy but also on the well-being of urban dwellers, since long commutes lead to increased stress, reduced productivity, and poor mental health.

    Pollution and Environmental Degradation

    Air pollution is another pressing issue in Indian cities. The World Health Organization (WHO) ranks several Indian cities, including Delhi, Kanpur, and Lucknow, among the most polluted globally. In 2020, air pollution caused an estimated 1.7 million deaths in India, according to a study published in The Lancet. The over-reliance on private vehicles, combined with unchecked industrial emissions has led to worsening air quality, making it hazardous for people to live and work in densely populated urban environments.

    Overcrowding and Infrastructure Strain

    With the growing influx of people into cities, housing and infrastructure are stretched to the limit. Many Indian cities are ill-equipped to handle their burgeoning populations – resulting in cramped living conditions, inadequate water supply, and frequent power outages. This overcrowding exacerbates social and health issues, leading to an overall decline in quality of life.

    The Solution – Integrated Townships

    Amid these escalating challenges, integrated townships are the most viable alternative to traditional urban housing models. These large-scale developments are self-sustaining communities that combine residential, commercial, recreational, and educational facilities in one comprehensive layout. Unlike conventional city apartments, which are often isolated and disconnected from essential amenities, integrated townships provide a more balanced and convenient lifestyle.

    Integrated Townships – A Brief History

    Integrated townships began emerging in India during the 1980s and 1990s. Even before that, cities like Jamshedpur – founded in 1907 by the Tata Group to support their workforce – served as early examples of self-contained, self-sustaining communities. Jamshedpur was among the pioneers of integrated urban living in India where residential spaces were developed alongside recreational spaces like parks and essential services such as schools and medical facilities.
     
    Chandigarh, planned by Le Corbusier in the 1950s, is another prime example of a development plan where housing and public facilities were created alongside commercial business centres. However, these were entire cities with their own municipalities. The concept of integrated townships – large residential complexes developed along with retail, office, civic and lifestyle developments – started gaining momentum in the 2000s.

    Today, these townships have emerged as the single most transformative solution, offering a holistic living environment that promotes sustainability, convenience, and a better quality of life. They have become even more relevant if we consider the increasing chaos of modern city life.

    Convenience and Reduced Commuting

    One of the biggest advantages of integrated townships is the proximity to workplaces, schools, healthcare facilities, shopping centres, and entertainment options. By reducing the need for long commutes, these developments save residents time and money while alleviating traffic congestion in major cities. According to one report, more than 80% of homebuyers in metropolitan areas now prefer housing projects which are within a 10-kilometer radius of their workplaces. 

    Sustainable and Environmentally Friendly

    Integrated townships are also designed with sustainability in mind. Green spaces, efficient waste management systems, rainwater harvesting, and renewable energy sources are increasingly becoming standard features of these developments. Integrated townships with eco-friendly infrastructure reduce carbon footprints and command a higher premium over non-sustainable developments. Moreover, by centralizing resources and infrastructure, integrated townships can reduce the strain on municipal services, thus promoting a more sustainable and resilient urban ecosystem.

    Improved Quality of Life

    Integrated townships prioritize the well-being of their residents by offering a range of recreational and wellness facilities. From parks and sports complexes to community centres and healthcare services, these projects are designed to cater to all age groups and lifestyle preferences. They foster a sense of community and safety, with round-the-clock security and controlled access points ensuring a secure living environment.

    Moreover, the availability of schools and educational institutions within the township means that families do not need to send their children far from home, reducing stress and providing a better work-life balance. Many leading minds in the real estate industry have recognized integrated townships as the future of housing, particularly in countries experiencing rapid urbanization like India.

    Not surprisingly, integrated townships outperformed standalone residential projects in both price appreciation and rental yields because of the superior convenience and amenities they offer. Furthermore, the demand for integrated townships is not limited to the residential segment.

    After the COVID-19 pandemic, more and more businesses have realized how important it is to have their operations closer to where their employees live. As a result, the commercial real estate segment is also seeing a surge in demand for office spaces within township developments, thanks to the growing trend of the ‘walk-to-work’ lifestyle.

    Towards a Better Residential Experience

    As India’s cities continue to expand, the traditional model of urban housing is proving to be increasingly untenable and homebuyers now seek alternatives that offer convenience, sustainability, and a better quality of life. Integrated townships are the answer, and will therefore account for more and more Indian residential spaces in the years to come.

    About the Author

    Akash Pharande is Managing Director – Pharande Spaces, a leading real estate construction and development firm famous for its township projects in Greater Pune and beyond. Pharande Promoters & Builders, the flagship company of Pharande Spaces and an ISO 9001-2000 certified company, is a pioneer of townships in the region. With the recent inclusion of Puneville Commercial into one of its most iconic townships, Pharande Spaces taken a major step towards addressing Pune’s current and future requirements for fully integrated residential-commercial convenience

    Related Posts

    Latest posts

    ANAROCK Reports Rise in Home Prices Across Top 7 Cities in H1 FY25

    In H1 FY2024, avg. ticket size of homes sold across top 7 cities was approx. INR 1 Cr Approx....

    Subway Opens 850th Outlet at Elan Miracle Mall

    Subway, the world-renowned quick-service restaurant chain, reached a significant milestone today with the grand opening of its 850th...

    Land Acquisition for ‘New Noida’ Project Begins

    The development of a new city in the National Capital Region (NCR) has taken a significant step forward...

    Equity Investments in Indian Real Estate to Exceed $10bn in 2024

    Equity investments in the Indian real estate sector are poised to exceed $10 billion in 2024, driven by...