Coronavirus-induced workplace flexibility could spur major demand for township projects

BENGALURU: Real estate township developments is expected to see a huge demand due to dispersed offices and flexible workplace policies around work from home.

According to Anarock Research, as on date, the top 7 cities have just over 101 township projects (launched since 2010 till date), accounting for around 3.16 lakh housing units. This is only a minuscule 2% share of overall housing projects launched during this period.

”Living in such projects also helps work-from-home professionals to maintain optimum productivity while being assured of their and their families' health and safety. Many townships even offer a walk-to-work option, ” Anuj Puri, Chairman - ANAROCK Property Consultants said.

As per Anarock, NCR followed by MMR, Bangalore and Hyderbad has the maximum township projects.
”Clearly, this is a hugely under-served segment whose underpinning relevance and importance has been emphatically brought to light by the COVID-19 pandemic, ” said Puri.

As per Anarock, given the nature of the times more township projects may be announced. Various government and nodal development agencies have already incorporated various townships-focused changes in their city planning, such as better road connectivity, utilities supply and sewage.

Some of the more promising areas for future development include Kalyan-Bhiwandi and Boisar in MMR, Sohna in Gurugram, North Bengaluru, Yamuna Expressway in Greater Noida, Gahunje in Pune, and West Hyderabad, among others.