November 21, 2017

 

Mumbai : Buying a home in a good area is what everyone dreams of. But it should be a reasonably priced flat. There are very less affordable properties in major urban centres. However, the buyer can purchase houses at lower price points just outside the big cities. There are many concerns the buyers need to take into account before making this decision. Such areas often lack proper infrastructure such as roads, schools, healthcare and educational institutes.

One major dilemma that the buyer faces is whether to be a part of a township or buy a home in a standalone building. With the high price of land and size of land required, it is almost unbearable to acquire and develop a township in the city centre. The township projects require large tracts of land parcels, i.e more than hundred acres. Such townships are expanded in outer or adjoining areas on the outskirts of a city. Keeping in mind high land prices, large investments are required to develop infrastructure in these large land parcels. It can be safely assumed that if buyers are looking for a city-centric property, then the superlative option will be a standalone building.

However, if the buyer is looking at investing in the suburbs, then one may have to choose between both options. And so it is important to understand the aces and ploys of each form of development. A reputed developer offering good amenities in a well designed standalone building will offer the buyer inimitability, prestige and a certain prosperity value. The maintenance for such buildings is also higher due to the presence of many amenities. If the buyer changes his mind and thinks about selling his property, then a well maintained house may get a premium over a bulky and congested development.

On the other hand, a properly planned and developed township offers various benefits to the owner. Owning an apartment in such a township offers quality of life at a very affordable price. Because of the lack of apartments, the buyers may decide to move to suburbs primarily. Developers in townships facilitate a great social infrastructure and one does not need to depend on public facilities like schools, healthcare centres, club houses, shopping malls, open grounds, sports amenities, etc.

Being developed in large land parcels with numerous units, such townships are by and large multi-ethnic in nature. Such townships provide buyers with community halls for social and family functions. Availability of sufficient parking space, which are properly managed is a huge advantage.

Thus, it’s a well-known point that standalone buildings and townships offer different living standards that cater to different buyer segments. Both have their rewards and drawbacks and each surpasses the other on various parameters. Therefore, the ultimate choice lies with the buyer.

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Source: magicbricks.com