Analysts from the real estate sector feel that developers are showing interest in integrated township projects in Pune, outside Mumbai and in the national capital region (NCR).
In recent months, several township projects have been launched in these areas, analysts said. For example, Gaursons India bought 300 acre along the
Yamuna Expressway in Uttar Pradesh for Rs 1,500 crore from the Jaypee Group in May and plans to build a township with 15,000-16,000 apartments, primarily in the middle-income category, priced at Rs 25-40 lakh each.
The company would market affordable and middle-income homes in the first two phases and premium homes towards the end. The firm expects appreciation in prices as it launches the later phases.
According to property advisory Jones Lang LaSalle India, most metros and satellite cities may see increased launches of integrated township projects over the next two-five years.
Property analysts said developers are not only toying with different formats to match the profile of the location, but also setting deadlines for phase-wise delivery, having learnt from the past experience of delays and aborted township projects.
Pune-based Kolte-Patil Developers is currently awaiting approvals for a 575-acre township near the Mumbai-Pune Expressway.