Flat in Township or Standalone Project: What is the Best Option for You?

Aniket Haware, Managing Director, Haware Builders Headquartered in Mumbai, Haware Engineers & Builders is a private-owned real estate company specializing in development, construction and marketing of a wide range of housing projects in Navi Mumbai, Mumbai and Thane.

Buying home in a good area is what everyone dreams for. But it should be reasonably priced flat. There are very less affordable properties in major urban centres. However, the perspective buyer can purchase houses at lower price points just outside the big cities. There are so many concerns the buyers need to take into mind before coming to the decision, as such areas lack in proper infrastructure facilities such as roads, schools and health-care centres.

One major dilemma that the buyer faces is whether to be 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 townships 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
about the land prices, large investments are required to develop infrastructure and large land parcel. It can be safely assumed that if the 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 future suburbs then one may get an option to choose from. And so it is important to understand the aces and ploys of each form of development. A reputed developer offering good amenities in well-designed standalone building will offer the buyer inimitability, prestige and a certain prosperity value. The maintenance for such buildings are also higher due to the amenities, superior maintenance. If the buyer changes his mind and think about reselling his property, then a well maintained house with good elite may get a premium over a bulky and congested development.

With the high price of land and size of land required, it is almost unbearable to acquire & develop a township in the city centre

On the other hand, a proper planned and developed township offers various benefits to the owner. Owing an apartment in such township offers quality of life at a very affordable price. Because of the inferior of apartments, the buyers may decide to move to suburbs primarily. Developers in township facilitate a great social infrastructure and one do not need to depend on public facilities like schools, health care centres, club houses, shopping malls, open grounds, sports amenities, and many others. Being developed in large land size with numerous units, the oddity of such townships is by and large multi-ethnic in nature. Such township avails buyer’s community halls for social and family functions. Availability of sufficient parking space which are properly managed is a big plus.

Thus, it's a well-known point that standalone buildings and township offer different living familiarities that cater to different buyer segments. Both derive with their part of rewards and drawbacks and each surpasses the other in various parameters. The choice, therefore, is with the buyers.