| | DECEMBER 202419This trend became even more evident after the 2008 financial crisis. This is when forward-thinking builders began to seek out ways to make projects more profitable and desirable. Including residential and commercial areas into one complex promised to boost footfall in retail malls by providing a captive market for retailers. Office buildings within the same precincts gave homeowners the possibility of walking, bicycling to work, or taking a short drive there with no traffic woes to contend with.The COVID-19 epidemic kicked off a major move towards remote work, less crowded residential areas with sufficient greenery, the convenience and safety of having necessary retail outlets within easy reach, and small commutes to work. In short, the pandemic solidified the already strong attraction for integrated townships. The Co-working RevolutionsResidential-commercial complexes like integrated townships are becoming all the more relevant because of the increasing popularity of co-working. If we take Pune as an example, the relevance and impact of co-working is hard to miss. This city has evolved massively from its previous tags of `Oxford of the East' and `Pensioner's Paradise'. Pune's vibrant educational institutions and IT/ITeS sector generate and attract more and more young professionals and millennial entrepreneurs. Simultaneously, even some of the biggest MNCs in Pune have been looking at cutting costs after COVID-19. Co-working spaces are the logical solution to bring down corporate costs, and provide a fertile environment for collaboration, networking, and creative engagement. The most successful ones are located in and around residential catchments, so their availability in integrated townships is a win-all proposition. Pune has been seeing steady growth in the co-working segment, with more operators of varying sizes constantly entering the fray. Especially after COVID-19, the co-working solution has found favor with many companies as well as the city's growing young population. Pune's thriving startup culture has contributed hugely to their growing popularity due to the gig economy and service-based companies such as digital marketing, automobiles, and blockchain. Not surprisingly, leading property consultants reported that 2021 saw a no less than 30 percent increase in demand for integrated townships over the same period the year before. Where work-from-home (WFH) has become ingrained, especially in metros and Tier-I cities, this rise is significant. Compared to exclusively residential projects, mixed-use townships have seen higher residential sales following the epidemic.Integrated commercial-residential townships are growing in popularity in India because of,Work-Life Balance: Integrated townships encourage a healthy it by merging living and recreational areas and minimizing travel time to and from work. This is something that the modern workforce appreciates more and more.A Sustainable Lifestyle: Sustainable living is becoming more and more important to urban Indians. Mixed-use townships lessen the need for driving, and therefore have a lower carbon footprint overall. The modern integrated townships also offer more advanced green features such as wastewater recycling, use of solar lighting & heating, green areas to act as lung space, and proper cross-ventilation in flats to reduce cooling costs in summer. Profitability for Developers: Integrated townships with commercial components baked in are a lucrative proposition for developers. The added appeal and convenience factor of these projects usually makes them more expensive than ordinary residential projects; however, Indians today are willing to spend more on a sustainable, convenient. and hassle-free lifestyle. Also, there is considerable brand value involved in creating
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