GOOD LIVING - Offering utmost ease
Talking about how mixed-use projects are helping the real estate industry in NCR to grow, RK Arora, chairman, Supertech Limited, says, “Mixed-use projects tend to be advantageous for both, developers and buyers. These developments provide every possible convenience in one area. Under one roof, there is an availability of residences, shopping malls, offices, plus ultra-luxurious amenities, which makes them a preferred choice for developers, investors and end-users. Mixeduse development in the NCR definitely fares better due to infra structural advantage .“
Developers, not only in the region, but across the country are taking keen interest in this segment of real estate and owing to multiple advantages and healthy demand, mixed-use townships are steadily growing in numbers.
Amit Modi, director, ABA Corp and vice president, CREDAI, Western UP, talks about the reception of end buyers for such townships as he says, “Mixed-use projects provide every possible convenience in one area. Availability of residences, shopping malls, offices, schools, hospitals and other accessible amenities, make them a preferred choice for investors and end-users.These projects are a great choice for working class as they offer walk-to-work culture.“
Hence, by giving people the option to stay close to their workplace and other social infrastructure, these mixed-use projects are becoming buyers' preferable choice these days.
A Tata Housing spokesperson says, “From a developer's standpoint, the fundamental benefit of mixed-use projects is that they encompass all three segments of the real estate sector including residential, commercial and retail. The demand for commercial and residential real estate is inter-dependent.The growth of a commercial development in a region automatically boosts residential housing development.“
The buyers in the region are increasingly understanding the usefulness of mixed use projects and know now that when commercial, retail and residential segments are in close proximity with each other, considerable time is saved in commuting.