Mega-size townships: The new rage in Chennai
With property prices at an all-time high, it was quite natural to expect big name developers to announce township projects on the lines of those that exist overseas and also in some other parts of India. Given that the city centre is already crowded, let’s hope that more such townships come up on the outskirts of the city.
Call them what you will. Community living spaces or gated communities are the new buzzwords in the city.
Large land banks are being developed into townships with clubhouses, gardens, walking tracks and swimming pools, and often equipped with round-the-clock security and a CCTV connection for every apartment. These townships target the upwardly mobile, double income families who are willing to pay a premium for security and hygienic surroundings.
The latest off the block is the Rs 300 crore deal by the Ozone Group, which acquired 43 acres near Anna Nagar. The company plans to develop 5.5 million sq ft of built-up space, which includes an integrated township with over 2,000 apartments, an information technology park and a shopping mall.
One of the key constraints in making people move to these townships would be the availability of public / private transport facilities. I’m not sure whether the developers are doing something in this aspect as well.