Professional Documents
Culture Documents
Contents
List of Figure................................................................................................................................... 1
CHAPTER 1.Introduction............................................................................................................... 2
1.1 Integrated Townships ....................................................................................................... 2
1.2 Background ...................................................................................................................... 2
1.3 Need ................................................................................................................................. 3
1.4 Aim and Objective ........................................................................................................... 4
1.5 Methodology .................................................................................................................... 5
CHAPTER 2.Data Collection and Analysis ................................................................................... 5
2.1 Case study: Magarpatta city ............................................................................................. 5
2.2 Magarpatta City Means .................................................................................................... 6
2.3 Overview of Magarpatta City........................................................................................... 7
2.4 Considered Factors ......................................................................................................... 10
2.5 Findings .......................................................................................................................... 11
2.6 Future Scope................................................................................................................... 12
2.7 References ...................................................................................................................... 12
List of Figure
CHAPTER 1. Introduction
1.2Background
There is a marked lack of residential density in fast-growing cities such as Gurgaon,
and State Governments are promoting integrated township projects by proposing the
Integrated Townships: Magarpatta city
easing of development norms for such projects. This has caused many developers to enter
this segment of development.
DLF, Tata, Ansal API and IREO already have integrated township projects in various
stages of development across the major Indian cities like NCR-Delhi. HIRCO is creating
similar townships in Panvel on the periphery of Mumbai, and in Chennai. Omaxe,
Parsvnath, Emaar MGF, BPTP and Kumar Builders have also announced multiple
integrated township projects. In Noida (NCR), developers such as Logix and Jaypee
Group are developing golf-centric townships, in effect offering a value addition option to
customers.
The new master plans for all major cities are looking at expanding the boundaries of
their urban sprawl. These new development precincts would benefit significantly if the
integrated township model were given high preference and incentives, since they provide
a holistic living environment and prevent mushrooming of unplanned urban villages.
Over the next two to five years, most metros and satellite cities are likely to see increased
launches of integrated township projects.
Tier-two cities and State capitals which see the population from the interiors
gravitating towards them are also likely to see such projects being launched. Though
arriving at an exact number is challenging, it seems evident that at a few hundred such
projects are likely to be in different stages of development over the next five-year period.
Private equity funds will show a marked predilection for targeting the residential
portion of such township projects. In fact, many such investments are expected over the
short to medium term. It is significant to note that, notwithstanding the other components
of integrated townships, it is the demand for housing that will continue to be the
dominant factor that will drive the development of such projects. Sadly, despite all the
positive hype around this form of development, integrated township projects grapple with
the same problems that plague the rest of the real estate sector in India.
1.3Need
The absence of proper title deeds and the opaque functioning of local revenue
departments create the first hurdle in such projects – namely land acquisition. Obviously,
this is the most essential aspect and consolidating contiguous land parcels through
multiple owners, adopting the local vernacular and negotiations and paperwork are a
thoroughly exhaustive process.
Lack of proper land titles, wills, disputes and the near-impossibility of tracing
ancestral ownership contribute towards a long-drawn legal due diligence process.
Integrated Townships: Magarpatta city
Absence of title insurance also adds to the legally vexatious issue of multiple sales and
forged ownership documents.
To some extent, this problem is now being addressed by land aggregators, who
help developers save precious time in chasing individual owners. Nevertheless, the legal
due diligence is still a problem as land records are still maintained in an obsolete manner
which is, as of now, miles away from the computerized process that is the clear need of
the hour.
Because of their huge mandatory land requirements, integrated townships need to
be developed outside the main urban areas of any city. The city’s peripheries are usually
low on infrastructure support, and development of integrated townships needs such
support to flourish. Public infrastructure development usually follows any region’s
development with a lag. This means that the infrastructure does not keep pace with the
development, and is usually planned reactively rather than being forward looking.
Integrated townships are designed to house a large number of families as well as
commercial establishments. Infrastructure is pivotal in making such developments
inhabitable and commercially viable. Most big Indian cities are struggling with issues of
power, water and drainage, not to mention a snail-like pace of road network expansion.
In such a scenario, integrated townships are likely to struggle with lack of support
infrastructure for a while to come. Though the internal infrastructure such as roads,
drainage and water connections as well as social infrastructure has to be provided by the
developer, the external linkage to the state infrastructure backbone is imperative.
1.5Methodology
• Development of real estate property requires structured approach and in depth
knowledge of various related aspects.
• Following step by step study is been carried out to achieve the objectives of this
project work.
Study of current real estate scenario and trends in India
Major forces acting on the real estate development
Important issues concerning with the integrated township development with today's context
Sources of finance for real estate development
Data collection and processing of data
Problem formulation -a live case is being taken out and it is analyzed with certain
assumptions.
Comparison and evaluation of integrated township
Market analysis
Technical analysis
Financial analysis
Environmental analysis
unauthorized constructions came up all over the place. It was chaotic. He decided to
develop a township in reaction to this in 1994. He told the government that we wanted to
develop an integrated township.
next to the workplace and this is not possible with heavy industries. IT was a nascent
industry. Whatever is new is always easy to sell. First he had to get the 120 families
together. Down the generations, family land had become fragmented due to divisions. He
told farmers that we could uplift ourselves. Everyone would get a share depending on the
size of their land. Instead of becoming land sellers let us become developers, he said.
Farmers trusted Mr. Magar. They approached the government with plan. At that time
Sharad Pawar was the Maharashtra chief minister and he was very encouraging. He told
them to do it properly and not to take short cuts. The entire process to ok six years. We
have dealt with four chief ministers.
Vision: Our Vision is to create a new way of life for the networked society of the new
millennium. With emphasis on proper environment control, good living standards,
modern educational system and state -of-the-art working conditions with total security.
Location: One great advantage of Magarpatta City is its close location. The city is 7
kms from the Pune Railway station and 5 kms from the City‟s business centre. This
makes Magarpatta City easily accessible from anywhere in Pune.
Land use
5%
6%
Open area
7% 30% Residential
Cyber city
Institutes
25%
Amenities
Sports Complex
27%
ENVIRONMENT 1/3rd of Magarpatta City's area, about 120 acres is gardens alone.
Apart from this there are trees, plantations and green sidewalks dotted alongside the
roads. Declared an Oxygen Zone, the City is pollution-free. Adopting eco-friendly
practices such as solar water heating, solar lighting and hygienic garbage disposal further
preserves the environment.
RECREATION Recreational spots are normally located far off in any city. But at
Magarpatta City you have them right around your home. Amphitheaters, Cultural
Centers, Aqua Sports Complexes, Shopping an d Entertainment centers, Golf Clubs and
more offer you the maximum delight.
AMENITIES & FACILITIES: In line with its mission, Magarpatta City is an effort to
ensure a convenient, enjoyable and stress-free life for a family. To achieve this mere
neighborhood won't suffice. A larger canvass is needed. That is why; all the amenities
and elements of modern day lifestyle that are vital for the networked society have been
provided.
RECREATION Normally recreational spots are located far away in a city. But at
Magarpatta City they are available right around your home. Sports Complexes,
Amphitheaters, Cultural Centers, Aqua Sports Centers, Shopping and Entertainment
centers, Golf Clubs, Gardens, Children's Play Areas, Community Centers and more offer
you maximum delight.
HEALTHCARE Family healthcare needs are met by a 200-bed multi-specialty hospital
in Magarpatta City. This ultra-modern hospital will provide the best healthcare by
eminent medical professionals. Apart from dream homes, it is these unique value
offerings that make Magarpatta City really exclusive. And also the ideal city for a lovely
home and a lively lifestyle, right in the center of Pune. In the lush green Oxygen Zone,
that is just 8 kms off the Mumbai-Pune expressway.
2.5 Findings
After the detail comparative analysis on the case studies and the survey form analysis
filled by the customer, the finding has been drawn.
2.7 References
[1] Book - Prasanna Chandra, “projects”, 6th edition, Tata Mc Graw Hill, New
Delhi