25, Nov 2024
The Nuclear Family – Housing India’s Millennials
By Akash Pharande, Managing Director – Pharande Spaces
Young, dual-income nuclear families and single professionals just beginning their careers are the driving forces of urban India today. In 2022, nearly half of Indian households consisted of 1 to 4 members, marking a significant rise in nuclear families from just 37% in 2008. By 2024, it is likely that this proportion has surpassed the 50% threshold, with smaller family units dominating the demographic landscape.
The transition from joint families to nuclear ones signals a profound cultural shift. While joint families once offered financial predictability, elderly care, and shared responsibilities, modern nuclear families prioritize independence, personal growth, and global aspirations. This shift is reshaping India’s urban housing market.
The Evolution of the Indian Nuclear Family
What drives the rise of nuclear families?
Financial Independence: Youth today seek autonomy over their finances, aligning with modern lifestyles.
Freedom of Choice: Young couples prefer making life decisions without traditionalist interference, particularly when family elders control resources. While these families remain respectful of elder care, their close bonds with previous generations have loosened. They aim for growth without constraints, focusing on career advancement, family investment, and quality of life.
Modern Parenting: Parents wish to raise their children with contemporary values, often focusing on creating global citizens.
The Millennial Dream Home
For the millennial nuclear family, the definition of an ideal home has evolved. Here’s what they prioritize:
Space for Growth – Homes need to accommodate expanding families. A survey by Anarock found that 51% of homebuyers preferred 3BHK units over smaller 2BHKs, despite rising property prices.
Sustainability – with 84% of Indians aware of global warming (Yale Program on Climate Change Communication, 2022), eco-friendly homes are now in demand. Features like energy-efficient designs and green certifications are becoming essential.
Safety and Security – Rising urban crime rates drive families toward gated communities and integrated townships with robust security measures.
Technological Integration – Smart homes are gaining traction, with the Indian smart home market expected to reach $6.5 billion by 2024. However, it’s not just about gadgets—it’s about creating smarter living environments.
Smarter Housing for Smarter Families
For today’s nuclear families, housing is not just about a home; it’s about the lifestyle it supports. This has led to increased demand for integrated townships—self-sustaining communities offering residential, retail, healthcare, and entertainment facilities within a single complex.
Why Integrated Townships?
Lifestyle Solutions: These townships offer “walk-to-work” convenience, on-site amenities, and pollution-free environments, reducing reliance on crowded urban hubs.
Complete Ecosystems: They blend residential and commercial spaces, catering to the all-in-one lifestyle nuclear families seek.
Enhanced Connectivity: With expanding metro networks, suburban areas housing these townships are now more accessible and affordable.
Challenges in Meeting Demand
Despite their appeal, integrated townships remain niche offerings due to the following challenges:
Land Availability: Securing large, cohesive parcels of land is a daunting task for most developers.
Expertise: Designing a township requires proficiency in integrating diverse real estate segments like hospitals, malls, and housing.
Capital Intensive: Building such ecosystems demands substantial investment throughout the development lifecycle.
As nuclear families reshape India’s urban housing market, the demand for sustainable, secure, and smart homes continues to rise. Integrated townships represent the future of housing, offering holistic solutions tailored to the aspirations of modern families. However, with limited supply and high barriers to entry, the race to meet this demand will define the next phase of India’s real estate evolution.
About the Author:
Akash Pharande is Managing Director – Pharande Spaces, a leading real estate construction and development firm famous for its township projects in Greater Pune and beyond. Pharande Promoters & Builders, the flagship company of Pharande Spaces and an ISO 9001-2000 certified company, is a pioneer of townships in the region. With the recent inclusion of Puneville Commercial into one of its most iconic townships, Pharande Spaces has taken a major step towards addressing Pune’s current and future requirements for fully integrated residential-commercial convenience.
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- By Rabindra
4, Nov 2024
VST Tillers Tractors Ltd reported Net profit of Rs 44.93 Cr, up by 23 Percent YoY, for the quarter ended Sept 30th, 2024
Bengaluru, 4th Nov 2024: VST Tillers Tractors Limited (VST), India’s leading farm equipment manufacturer, today announced their financial results for the quarter and half year ended Sept 30, 2024.
For the Quarter, VST achieved the turnover of Rs 283.43 Cr, up from Rs 278.51 Cr in the second quarter of last year. The profit before taxes is Rs 57.53 Cr, up 16% from Rs 49.66 Cr in the same period previous year. Net profit rose by 23% to Rs 44.93 Cr YoY.
On year-to-date basis, the turnover is at Rs 474.02 Cr, compared to Rs 524.65 Cr in the first half of last year. The unfavorable circumstances in the first quarter of this year, which is now recovering from Q2, are the cause of the turnover’s degrowth. Maintaining the same margin on sales, the profit before taxes is Rs 85.47 Cr as opposed to Rs 92.25 Cr of last year. Net profit stood at Rs 67.78 Cr as against Rs 69.44 Cr last year.
4, Nov 2024
Unaudited standalone & consolidated financial results for the half year ended September 30th, 2024
The Board of Directors of Sundaram Finance Ltd. (SFL) approved the unaudited standalone and consolidated financial results for the half year ended Sep 30, 2024, at its meeting held on Nov 04, 2024, in Chennai.
“Team Sundaram has delivered a balanced H1FY25 despite lower-than-expected economic activity in the half year. Assets under management grew by 20% to Rs. 48,058 crores compared to the prior year period. Net stage 3 assets closed at 0.89% and profit after tax for H1FY25 was at Rs. 648 crores. Our Group companies in asset management, general insurance and home finance have continued their trajectory from FY24 and recorded strong results. We continue to rely on our time-tested approach of steady and sustainable growth with best-in-class asset quality and consistent profitability,” said Harsha Viji, Executive Vice Chairman.
Disbursements for H1FY25 recorded a growth of 3% over H1FY24. Gross stage 3 assets improved over the previous year. Gross stage 3 assets as on September 30, 2024, stood at 1.62% with provision cover of 45% as against 1.86% as on September 30, 2023, with provision cover of 42%. Core operations performed strongly with profit from operations up by 23% in H1FY25. Profits after tax was flat at Rs. 648 crores during H1FY25 and H1FY24 primarily due to a shift in the timing of dividend income last year. Dividend income was at Rs. 43 crores during H1FY25 as against Rs. 181 crores in H1FY24. Return on assets closed at 2.50% in H1FY25 as against 2.95% for H1FY24 and capital adequacy at 20.0% remains quite comfortable.
“Economic activity in Q2 was well below expectations with the monsoons disrupting consumption and government spending being slower post the general elections. The tepid economic activity was exacerbated by growing concerns on asset quality in the microfinance and unsecured lending sectors. With no exposure in these segments, we delivered a well-balanced performance in a tough operating environment, recording operating profit growth of 23%. Looking ahead, we remain cautiously optimistic of a recovery in economic activity in H2 as domestic consumption and private sector capital expenditure resume and the central government’s infrastructure spend and policy agenda gather pace. Team Sundaram will continue to remain sharply focused on delivering the Sundaram experience to our customers, our people and all stakeholders,” said Rajiv Lochan, Managing Director.
STANDALONE PERFORMANCE HIGHLIGHTS FOR H1FY25
- Disbursements for H1FY25 grew by 3% to Rs. 13,768 crores as compared to Rs. 13,430 crores registered in H1FY24.
- The assets under management grew by 20% to Rs. 48,058 crores as on 30th September 2024 as against Rs. 40,106 crores as on 30th September 2023.
- Net interest income grew 19.4% to Rs. 1,304 crores in H1FY25 from Rs. 1,092 crores in H1FY24.
- Gross stage 3 as on 30th September 2024 stood at 1.62% with 45% provision cover as against 1.86% with provision cover of 42% as on 30th September 2023. Net stage 3 as on 30th September 2024 closed at 0.89% as against 1.08% as on 30th September 2023.
- The Gross and Net NPA, as per RBI’s asset classification norms for NBFCs, are 2.39% and 1.55% respectively as against 2.89% and 2.06% as of 30th September 2023.
- Profit from operations increased by 23% in H1FY25 as compared to H1FY24.
- Cost to income ratio closed at 32.27% in H1FY25 as against 35.18% in H1FY24.
- The dividend income was lower during H1FY25 at Rs. 43 crores as against Rs. 181 crores in H1FY24.
- Profit after tax was flat at Rs. 648 crores during H1FY25 and H1FY24.
- Return on assets (ROA) for H1FY25 closed at 2.50% as against 2.95% for H1FY24. Return on equity (ROE) was at 14.2% for H1FY25 as against 16.2% for H1FY24.
- Capital Adequacy Ratio stood at 20.0% (Tier I –16.4%) as of 30th September 2024 compared to 19.9% (Tier I – 15.9%) as of 30th September 2023.
CONSOLIDATED PERFORMANCE HIGHLIGHTS FOR H1FY25
The consolidated results of SFL include the results of its standalone subsidiaries Sundaram Home Finance, Sundaram Asset Management and joint venture company Royal Sundaram General Insurance.
- The assets under management (AUM) in our lending and general insurance businesses stood at Rs. 72,541 crores as on 30th September 2024 as against Rs. 60,578 crores as on 30th September 2023, a growth of 20%. The assets under management of our asset management business stood at Rs. 76,845 crores as on 30th September 2024 as against Rs. 61,884 crores as on 30th September 2023, a growth of 24%.
- Profit after tax for H1FY25 grew by 18% to Rs. 871 crores as compared to Rs. 741 crores in H1FY24.
GROUP COMPANY PERFORMANCE HIGHLIGHTS
Our group companies continued to perform well.
- The asset management business closed the half year ended 30th September 2024 with assets under management of Rs. 76,845 crores (around 85% in equity) and consolidated profits from the asset management businesses were at Rs. 68 crores as against Rs. 49 crores in H1FY24.
- Royal Sundaram reported a Gross Written Premium (GWP) of Rs. 2,053 crores as compared to Rs. 1,818 crores in the corresponding period of the previous year, representing a growth of 13%. The Company reported a profit after tax of Rs. 126 crores for H1FY25 as against a profit of Rs. 145 crores in H1FY24.
- Sundaram Home Finance continued to grow strongly with disbursements up by 26% to Rs. 2,896 crores in H1FY25. The profit for H1FY25 was Rs. 111 crores, as against Rs. 117 crores in H1FY24.
30, Oct 2024
Average home prices in Gurugram up 76 Percent in 2 years, say’s report
Gurugram: The real estate prices of houses in Gurugram have risen to an average of 76 percent in the past two years driven by high demand and expectation for more homes. The newly released Prop Index Report by Magic Bricks reveals an average price of Rs 14,650 per sq ft, 15.5% up in the last quarter alone (July to September in the fictitious year 2024).
Mr. Gaurav K Singh, Founder & MD, Womeki Group, “As we embrace the vibrant festival season in India, the real estate market is experiencing a notable transformation. Recent trends reveal a shift in buyer preferences toward spacious homes that offer a blend of comfort and functionality. With remote work becoming a lasting reality, many are seeking properties that accommodate their evolving lifestyles, favoring amenities like home offices and communal spaces. Additionally, attractive financing options and festive discounts create a sense of urgency, prompting many to take the leap into homeownership. Many eager homebuyers wait for this period, motivated by the festive spirit and the desire to invest in new beginnings. real estate developers recognize this enthusiasm and often roll out attractive deals, catering to investors, end users, and channel partners alike. These incentives aim to make homeownership more accessible and appealing, offering prospective buyers additional financial benefits and added value to enhance their festive season. The festival season is not just about celebration; it’s a strategic moment in the real estate market that fosters investment, innovation, and community growth.”
This growth pattern can be accrued mainly to a major infrastructure factor led by the successful construction of Dwarka Expressway. Housing sectors in Gurugram and newer sectors, in particular, have become more attractive to home buying as this major project has helped to increase connectivity between the two cities. While core Gurugram locations remain steep in rates these emerging sectors are gaining attention for affordable prices in housing, especially around central business districts.
Mr. Viren Mehta, Director, ElitePro Infra said, “The Gurugram real estate market has shown remarkable resilience, with property prices increasing by 76% over the past two years. This surge highlights the strong demand for housing, especially in key areas that offer enhanced infrastructure and connectivity. While the supply of residential units has also grown, the rising prices reflect sustained investor confidence and the premium that buyers are willing to pay for quality homes. Developers must now focus on balancing supply and affordability, ensuring that the market remains attractive for both homebuyers and investors alike.”
The report also pointed out that the prices have risen sharply and despite the demand for residential units going up a decent 9.9 percent QoQ, while new supply coming in at a much faster pace of 18.3 percent QoQ, thanks to an increase in the number of new listings and new project launches in the quarter.
Mr. Ashish Agarwal, Director, AU Real estate – Over the last 2 years, we have witnessed an unprecedented surge in home prices in Delhi NCR, driven primarily by the region’s ongoing infrastructure development. The enhancements in connectivity and accessibility have not only elevated the desirability of NCR as a residential destination but have also stimulated significant interest from homebuyers. As we approach the festive quarter, we anticipate continued growth in housing sales, as consumers seek to make meaningful investments during this auspicious time.
Also, there is high demand of ready to move apartments, prices have gone up to 12.9 percent quarter on quarter to Rs 13,729/ sq ft, and under-construction apartment prices have gone up to 17.3 percent quarter on quarter to Rs 16,180/ sq ft.
This report factually shows that 3 BHK units are the most in-demand, taking the majority with 66% of the total share. The average price for these units has increased by 21.6 percent in the last quarter which is at Rs 14,600 per square feet. End-user interest is inclined towards upcoming apartment micro-markets like the Dwarka Expressway where the average residential rate was Rs 14,800 against Rs 12,600 in New Gurgaon and Rs 17,000 in Golf Course Extension.
The Dwarka Expressway along with New Gurgaon and SPR has become the most searched area for real estates, as the report identifies. This change signifies a rise in interest in the real estate market in Gurugram connecting the city as a key player to the Delhi NCR real estate market.
Mr. Santosh Agarwal, CFO and Executive Director of Alphacorp, “The impressive 76% surge in residential prices across Gurugram over the past two years is a clear reflection of the region’s growing demand and strong market fundamentals. Gurugram has transformed into a key real estate destination, attracting both end-users and investors, driven by infrastructural advancements, improved connectivity, and the influx of multinational corporations. This price appreciation also mirrors the rising aspirations for luxury and high-end properties. We view this as a pivotal time to continue enhancing our project offerings with cutting-edge amenities and sustainable designs to meet the evolving needs of discerning buyers. Additionally, Gurugram’s growth trajectory aligns with broader economic trends, making it a robust investment hub for the future. With sustained government support and further infrastructure projects in the pipeline, the outlook remains highly positive for Gurugram’s real estate market.”
With infrastructure gradually developing more and new projects on the horizon, the residential market of Gurugram holds a promise of even more growth and the city remains as one among the top choices for consumers and investors.
Mr. Didar Singh, Senior Vice President – Sales, Trehan Iris, said, “Gurugram has seen a remarkable 76% increase in home prices over the past two years, reflecting its rise as a key business hub. The completion of significant infrastructure projects, particularly the Dwarka Expressway, has enhanced connectivity to Delhi, attracting a growing number of residents. This influx has driven residential demand, pushing prices upward, especially in core areas. As the housing supply increases, newer sectors are emerging, offering quality residential options while still maintaining proximity to major business districts. Moreover, as infrastructure continues to develop, Gurugram’s appeal is set to grow, , further solidifying its position as a prime destination for homebuyers seeking both convenience and value.”
Why These Areas of Gurugram Have Become Property Hotspots and :
With prime locations and excellent infrastructure development in NCR, the Gurugram Dwarka Expressway, Southern Peripheral Road (SPR), New Gurugram, Golf Course Road, Golf Course Extension Road, and Sohna Road have become property hotspots. Home buyers are showing significant interest in these areas. Gurugram is known for its various expressways and has the facilities of Indian Railways, Rapid Metro, and Delhi Metro, with the upcoming Rapid Rail facility also set to become available. Last year, the Haryana government formed Gurugram Metro Rail Limited (GMRL), a special-purpose vehicle to implement the 28.5 km metro expansion project from Millennium City Center to Cyber Hub, which will integrate a large part of the city into the metro network.
23, Oct 2024
KISNA Diamond and Gold Jewellery Marks a Milestone with 50 Showrooms in India
Noida, Delhi, NCR, 23rd October 2024: KISNA Diamond and Gold Jewellery, a leading brand in the jewellery industry, proudly announced the grand opening of its 50th exclusive showroom in the country. This marks KISNA’s 10th showroom in the Delhi NCR region, located at Spectrum Mall, Sector 75, Noida. The inauguration was graced by Mr. Ghanshyam Dholakia, Founder & Managing Director of Hari Krishna Group, and Mr. Parag Shah, Director of KISNA Diamond & Gold Jewellery.
To celebrate the grand opening, KISNA is offering up to 100% off on diamond jewellery making charges and up to 20% off on the making charges for gold jewellery. Adding to the excitement, KISNA’s
#Abki_Baar_Aapke_Liye Shop & Win a Car campaign offers consumers a chance to win from over 100 cars. Consumers can participate by purchasing diamond, platinum, or solitaire jewellery worth ₹20,000 or more, or gold jewellery worth ₹50,000 or more.
Speaking on this momentous occasion, Mr. Ghanshyam Dholakia, Founder & Managing Director of Hari Krishna Group, stated: ‘’Achieving the milestone of 50 showrooms across the nation in such a short span reflects the trust our consumers have placed in KISNA. With Diwali around the corner, and the opening of our 10th showroom in Delhi, NCR, we look forward to continuing this journey of growth, and creating moments of joy for our consumers. This expansion aligns with our vision, ‘Har Ghar KISNA,’where we aim to be India’s fastest-growing jewellery brand, making every woman’s dream of owning diamond jewellery come true.”
Mr. Parag Shah, Director of KISNA Diamond & Gold Jewellery, added: ‘’ The opening of our 50th showroom in the country is not just a business achievement but a celebration of our brand’s core values—innovation, craftsmanship, and trust. Our consumers have embraced KISNA’s offerings with great enthusiasm, and we are proud to mark this milestone during the Diwali festive season. With the launch of our latest showroom in Noida, we are excited to offer an even more personalized shopping experience to our consumers in this region.”
Mr. Manish Kumar Jain, Franchise Partner, KISNA, said: “Partnering with KISNA has been a rewarding experience, and reaching this 50th showroom milestone reflects the brand’s growing popularity and trust among consumers. We are thrilled to bring KISNA’s exceptional craftsmanship and service to even more people with the opening of our latest showroom in Noida.”
In line with KISNA’s commitment to giving back to the community, the brand organized a tree plantation drive as part of the launch event. Additionally, KISNA hosted a food distribution drive for the underprivileged.
23, Oct 2024
Join a cultural celebration of East meets West this festive season at Kuda Villingili Resort Maldives
Kuda Villingili Resort, nestled in the pristine beauty of the Maldives, is delighted to announce its highly anticipated Festive 2024-2025 celebrations, themed “East Meets West.” This year’s festivities promise to deliver a harmonious blend of cultural refinement and exhilarating adventures, offering guests a truly immersive and unforgettable holiday experience.
Running from December 23, 2024, to January 7, 2025, the “East Meets West” celebrations will bring together the best of both worlds, combining the elegance of Eastern traditions with the vibrancy of Western culture. With a lineup of exciting events, the resort aims to create a one-of-a-kind experience for guests of all ages.
The celebrations will commence on December 23 with an enchanting tree-lighting ceremony. Guests are invited to come together for festive carols, marvel at a stunning island-style Christmas tree, and stroll along lantern-lit pathways to kick off the holiday season.
On Christmas Eve, the vibrant atmosphere at Kuda Villingili will take center stage at Raalhu Bar with a lively cocktail party, featuring the festive beats by resident DJ, followed by a magnificent Christmas Eve Gala Dinner at The Restaurant Beach, where a live band will elevate the festive atmosphere. December 25 brings festive cheers, gifts, and the much-anticipated arrival of Santa Claus, promising a magical holiday experience for both children and adults.
The festive celebrations at Kuda Villingili Resort will continue to offer a diverse array of experiences that cater to every taste and preference. Guests can look forward to a magical Cinema Night under the stars, an Arabian Shisha Night, library wine dinners, karaoke nights, and more, ensuring a variety of engaging activities for all.
New Year’s Eve celebrations on December 31 will begin with a cocktail reception and a live band performance, setting the mood for an exciting evening. The highlight of the night will be the special East Meets West Gala Dinner, where guests will enjoy a spectacular fusion of Eastern and Western culinary delights, complemented by live entertainment featuring musicians and special performers. The evening will culminate in an unforgettable New Year Countdown and fireworks, as guests toast to 2025 with bubbles and new resolutions.
For young guests, the Kuda Fiyo Kids Club has curated a series of entertaining, educational, and memorable activities. From splashing pool parties and enriching nature walks to cultural immersion experiences and sunny beach days, children will have ample opportunities to make new friends and create unforgettable holiday memories.
Adventure-seekers can look forward to the resort’s extensive range of ocean activities. Whether seeking an adrenaline rush or a serene escape, guests can tailor their ocean adventures, from big game fishing and competitive water games to scuba diving for both adults and children. MSTS Watersports and Diving will lead these thrilling experiences, ensuring every guest finds their perfect balance of excitement and relaxation.
For those seeking fitness and wellness, Kuda Villingili offers a diverse range of sports and wellness activities. Guests can stay active with mat Pilates, aeroboxing, and aqua yoga, or unwind with meditative yoga and reflective painting sessions, designed to nourish both the body and soul.
Kuda Villingili Resort Maldives extends an invitation to guests to partake in an unforgettable festive holiday experience, where the stunning beauty of the Maldives harmonizes with two culturally rich and distinctive realms: the refined elegance and mystique of the East alongside the rugged, adventurous spirit of the West. Bid farewell to the old year and welcome the new one with optimism and joy at Kuda Villingili Resort Maldives.
23, Oct 2024
The Future of Indian Housing
By Mr. Akash Pharande, Managing Director – Pharande Spaces
India’s urban population explosion is causing its bigger cities to burst at the seams. Overcrowding, pollution, traffic congestion, and deteriorating infrastructure are the ‘new normal’ – a state of affairs that we have begun to accept as inevitable.
According to the United Nations, about 40% of the Indian population will live in urban areas by 2030. The pressure this puts on housing, transportation, and basic amenities in our cities is immense. Because of these urban ‘growing pains’, many citizens have become disillusioned with their cities and are even considering moving to smaller, less crowded, and less expensive tier 2 and tier 3 cities.
However, there are two catches to this way of thinking – one, most employment opportunities are in our larger cities. Two, the hammer of development is bound to catch up even in the smaller cities. Is there a way for citizens to regain a wholesome, uncluttered lifestyle without abandoning their cities of choice? There is. Integrated townships are a viable solution. But before we get into that, let’s first examine the real-time challenges that our cities increasingly face.
Traffic Congestion
India’s cities are notorious for their traffic woes. In cities like Mumbai, Delhi, and Bengaluru, residents spend hours in gridlocked traffic every day. According to a 2021 report by TomTom, Bengaluru ranked as the sixth-most congested city in the world, with commuters spending an average of 71% extra travel time during rush hour. This congestion takes a toll not only on the economy but also on the well-being of urban dwellers, since long commutes lead to increased stress, reduced productivity, and poor mental health.
Pollution and Environmental Degradation
Air pollution is another pressing issue in Indian cities. The World Health Organization (WHO) ranks several Indian cities, including Delhi, Kanpur, and Lucknow, among the most polluted globally. In 2020, air pollution caused an estimated 1.7 million deaths in India, according to a study published in The Lancet. The over-reliance on private vehicles, combined with unchecked industrial emissions has led to worsening air quality, making it hazardous for people to live and work in densely populated urban environments.
Overcrowding and Infrastructure Strain
With the growing influx of people into cities, housing and infrastructure are stretched to the limit. Many Indian cities are ill-equipped to handle their burgeoning populations – resulting in cramped living conditions, inadequate water supply, and frequent power outages. This overcrowding exacerbates social and health issues, leading to an overall decline in quality of life.
The Solution – Integrated Townships
Amid these escalating challenges, integrated townships are the most viable alternative to traditional urban housing models. These large-scale developments are self-sustaining communities that combine residential, commercial, recreational, and educational facilities in one comprehensive layout. Unlike conventional city apartments, which are often isolated and disconnected from essential amenities, integrated townships provide a more balanced and convenient lifestyle.
Integrated Townships – A Brief History
Integrated townships began emerging in India during the 1980s and 1990s. Even before that, cities like Jamshedpur – founded in 1907 by the Tata Group to support their workforce – served as early examples of self-contained, self-sustaining communities. Jamshedpur was among the pioneers of integrated urban living in India where residential spaces were developed alongside recreational spaces like parks and essential services such as schools and medical facilities.
Chandigarh, planned by Le Corbusier in the 1950s, is another prime example of a development plan where housing and public facilities were created alongside commercial business centres. However, these were entire cities with their own municipalities. The concept of integrated townships – large residential complexes developed along with retail, office, civic and lifestyle developments – started gaining momentum in the 2000s.
Today, these townships have emerged as the single most transformative solution, offering a holistic living environment that promotes sustainability, convenience, and a better quality of life. They have become even more relevant if we consider the increasing chaos of modern city life.
Convenience and Reduced Commuting
One of the biggest advantages of integrated townships is the proximity to workplaces, schools, healthcare facilities, shopping centres, and entertainment options. By reducing the need for long commutes, these developments save residents time and money while alleviating traffic congestion in major cities. According to one report, more than 80% of homebuyers in metropolitan areas now prefer housing projects which are within a 10-kilometer radius of their workplaces.
Sustainable and Environmentally Friendly
Integrated townships are also designed with sustainability in mind. Green spaces, efficient waste management systems, rainwater harvesting, and renewable energy sources are increasingly becoming standard features of these developments. Integrated townships with eco-friendly infrastructure reduce carbon footprints and command a higher premium over non-sustainable developments. Moreover, by centralizing resources and infrastructure, integrated townships can reduce the strain on municipal services, thus promoting a more sustainable and resilient urban ecosystem.
Improved Quality of Life
Integrated townships prioritize the well-being of their residents by offering a range of recreational and wellness facilities. From parks and sports complexes to community centres and healthcare services, these projects are designed to cater to all age groups and lifestyle preferences. They foster a sense of community and safety, with round-the-clock security and controlled access points ensuring a secure living environment.
Moreover, the availability of schools and educational institutions within the township means that families do not need to send their children far from home, reducing stress and providing a better work-life balance. Many leading minds in the real estate industry have recognized integrated townships as the future of housing, particularly in countries experiencing rapid urbanization like India.
Not surprisingly, integrated townships outperformed standalone residential projects in both price appreciation and rental yields because of the superior convenience and amenities they offer. Furthermore, the demand for integrated townships is not limited to the residential segment.
After the COVID-19 pandemic, more and more businesses have realized how important it is to have their operations closer to where their employees live. As a result, the commercial real estate segment is also seeing a surge in demand for office spaces within township developments, thanks to the growing trend of the ‘walk-to-work’ lifestyle.
Towards a Better Residential Experience
As India’s cities continue to expand, the traditional model of urban housing is proving to be increasingly untenable and homebuyers now seek alternatives that offer convenience, sustainability, and a better quality of life. Integrated townships are the answer, and will therefore account for more and more Indian residential spaces in the years to come.
About the Author:
Akash Pharande is Managing Director – Pharande Spaces, a leading real estate construction and development firm famous for its township projects in Greater Pune and beyond. Pharande Promoters & Builders, the flagship company of Pharande Spaces and an ISO 9001-2000 certified company, is a pioneer of townships in the region. With the recent inclusion of Puneville Commercial into one of its most iconic townships, Pharande Spaces taken a major step towards addressing Pune’s current and future requirements for fully integrated residential-commercial convenience
16, Oct 2024
Diwali Gifting Ideas: Thoughtful Presents for Your Loved Ones
As the Festival of Lights approaches, it’s the perfect time to spread joy and warmth through thoughtful gifts. This Diwali, go beyond traditional gift boxes and vouchers by choosing presents that blend utility with celebration. Here are some exceptional gifting ideas from Haier India, designed to make your loved ones feel truly cherished and appreciated. These innovative and practical gifts will not only brighten their homes but also enhance their daily lives, making this Diwali even more special. Let’s take a look.
Special Festive discount offers: To make the festive season even more memorable, Haier India has announced several exciting discount offers on microwave ovens and robot vacuum cleaners. The Haier microwave oven is available with up to 15% instant cashback, and customers can enjoy a 0% down payment option.
Haier Convection Microwave
This Diwali, the Haier Convection Microwave makes festive meal preparation a joyful and effortless experience, making it an ideal gift for your loved ones. With 66 auto cook menus, it allows users to prepare favorite dishes without the need for a recipe book, offering convenience and ease. Its combination function enables cooking, browning, and baking simultaneously, providing versatility in the kitchen. Additionally, quick defrosting capabilities and a user-friendly digital control panel simplify cooking, while the child lock feature ensures safety for young ones. This thoughtful and practical gift will enhance any kitchen this festive season.
Haier Air Fryer Microwave Combo
The Haier Air Fryer Microwave Combo is a versatile kitchen appliance that seamlessly combines the functionalities of an air fryer and a microwave, making it perfect for health-conscious cooks who value convenience. The Haier Microwave Air Fryer uses up to 75% less fat than traditional frying methods, promoting healthier cooking habits. With approximately 305 auto-cook preset menu options, even novice cooks can easily create delicious meals. Additionally, the motorized rotisserie feature allows you to enjoy barbeque at home, while the combination of convection, grill mode, and microwave function enhances efficiency, saving up to 30% of cooking time.
Haier Robot Vacuum Cleaner
Why not help your friends and family maintain a spotless, clutter-free home during the busy Diwali season with the Smart Robot Vacuum Cleaner? In our fast-paced lives, a Robot Vacuum Cleaner is indispensable, effortlessly maintaining a clean home and freeing up valuable time for more meaningful activities. If your friends or loved ones are busy professional constantly on the go or even a clean freak, the latest Haier Robot Vacuum Cleaner will be their perfect ally.
This modern marvel in home cleaning ensures that your home remains a comfortable haven. It features one-touch intelligent control via an app, offers three sweeping and mopping modes, and adjusts suction power based on user demand. Elegantly designed with a sleek 9.45 cm body, it can navigate any corner of your home with ease.
16, Oct 2024
Godrej Magic Champion the Cause of Hand Hygiene for Healthier Lifestyle on Global Handwashing Day
Mumbai, 16th October 2024: According to a survey conducted by National Sample Survey (NSS) in India, only 35.82% of the population regularly follows hand hygiene before meals, while 60% households wash hands only with water. Several reports also highlight there has been a decline in consistent handwashing habits as daily routines returned to normal post-COVID 19. There is a strong need now to propagate amongst people the right-hand hygiene practices and sustaining them. The theme of this year’s Global Handwashing Day (Oct 15), “Why are clean hands still important?” highlights the ongoing importance of hand hygiene in preventing infections.
In line with this theme, Godrej Magic Handwash, a ready-to-mix handwash from Godrej Consumer Products Ltd (GCPL), launched an awareness campaign on Global Handwashing Day to promote proper handwashing practices and encourage sustaining the habit. The campaign highlights an essential truth: hand hygiene cannot be achieved in a superficial way. While handwashing is important, the campaign focuses on handwashing as an important pre-emptive measure for disease control and leading a healthy lifestyle.
To amplify its message, Godrej Magic has partnered with Godrej L’Affaire, the owned media platform from Godrej Industries Group, to release a digital film that takes a playful yet impactful approach to highlight the importance of thorough handwashing. What happens when we take shortcuts in life? Incomplete efforts often lead to incomplete outcomes, and hygiene is no exception. Imagine trying to get through your day with only half of the things you rely on—half a lunch, half a desk, or even half a chair. Isn’t that what happens when we wash only one hand? Through humour and clever scenarios, this film delivers a simple but essential message: proper hygiene is ‘all or nothing.’
Godrej Magic has partnered with Teach for India, a non-profit organization dedicated to educational equity, to promote proper hand hygiene practices among children. As part of this initiative, students in the Teach for India network will be trained to maintain effective hand hygiene habits. This outreach effort will educate children in over 500 classrooms.
Commenting on the campaign, Neeraj Senguttuvan, Head of Marketing (Personal Care), Godrej Consumer Products Ltd (GCPL), said, “Global Handwashing Day is a perfect reminder that good hygiene remains as important as ever, even though life has returned to normal post-Covid. With Godrej Magic Handwash, we are not just offering a product, we are promoting a shift in mindset. It’s about ensuring cleanliness is complete, every single time. As India’s first powder-to-liquid handwash, Godrej Magic is driving innovation, making proper hygiene simple, affordable for as low as INR 10 and an integral part of our daily routine.”
Sujit Patil, Chief Communications Officer, Godrej Industries Group, added, “Godrej L’Affaire, Godrej Industries Group’s owned media platform was conceptualised to trigger meaningful conversations around nuances of lifestyle. Hygiene and well-being are important aspects of personal lifestyle. Based on an insight that the seriousness of handwashing has dwindled post return to normalcy from COVID-19, we thought it is appropriate to bring the principles of effective hand washing to the fore. Through this campaign to commemorate the Global Handwashing Day, we aim to remind people that good hand hygiene is non-negotiable and an essential part of a healthy lifestyle and can help live a full life.”
To boost the initiative’s digital reach, the brand has engaged over 50 content creators, including doctors, parenting experts, and stand-up comedians. Additionally, Godrej Magic will further promote the campaign through a variety of media partnerships.
In a post-pandemic world, where it’s easy to let basic habits slide, proper handwashing is one of the simplest yet most important steps we can sustain to protect ourselves. Washing both hands isn’t just about cleanliness—it’s about living fully, safely, and responsibly. Godrej Magic Handwash invite everyone to reflect on their hand hygiene habits. Handwashing isn’t just a task—it’s a daily act of self-care.
16, Oct 2024
Isuzu Motors India launches ISUZU D-MAX Ambulance. Fully-built to AIS-125 Type C specifications.
Bengaluru 16th Oct 2024 : Isuzu Motors India is proud to announce the launch of ISUZU D-MAX Ambulance, that is fully-built to AIS-125 Type C ambulance specifications. This pioneering ambulance is engineered to empower a faster response while providing unparalleled reliability, safety and comfort in patient transportation, setting a new standard in emergency medical care services.
Designed for India, with ISUZU’s proven technology and a deep understanding of the needs of healthcare providers, the new ISUZU D-MAX Ambulance comes with 14 ‘Best-in-Class’ features ushering in a new era in ‘Basic Life Support’ ambulances in the country.
Commenting on the launch, Mr. Toru Kishimoto, Deputy Managing Director of Isuzu Motors India, said, “We are excited to present the ISUZU D-MAX Ambulance, our unique product designed for the Indian market, with 14 ‘Best-in-Class’ features. Isuzu has always been synonymous with trust and reliability. The new ISUZU D-MAX Ambulance carries forward these values, offering high-quality build and unmatched robustness, while conforming to the specifications defined under AIS-125 Type C ambulance. With this launch, Isuzu Motors India continues to strengthen its position as a game changer in the automotive industry, delivering quality products that are both innovative and tailored to the unique demands of the Indian market. We are confident that our ‘ISUZU D-MAX Ambulance’ will set a new benchmark in the ‘Basic Life Support’ ambulance category”.
Powered by the proven ISUZU RZ4E 1.9L 4-cylinder VGS Turbo intercooled engine, which has a flat peak torque curve, that delivers ‘Best-in-Class’ Power of 120 kW @3600 rpm and ‘Best-in-Class’ torque of 360 Nm @ 2000-2500 rpm. The resultant speed and ‘Best-in-Class’ acceleration are vital for a quick response during the ‘Golden Hour’.
The D-MAX Ambulance vehicle is built on the robust ISUZU iGRIP platform which makes it tough and stable, ideal for both urban and rural roads. The Hi-Ride suspension with Best-in-Class double wishbone provides strong SUV-like suspension system designed for heavy usage and provides better cabin comfort for all occupants. The other ‘Best-in-Class’ features of a shorter wheel-base, superior ground clearance, gradeability, bigger tyres and a smaller turning circle radius make the ISUZU D-MAX Ambulance highly manoeuvrable in tight urban, semi-urban and rural areas for operational reach.
In terms of Active safety, it comes with many Best-in-Class features like TCS (Traction Control System), ESC (Electronic Stability Control), HDC (Hill Descent Control), EBA (Emergency Brake Assist), BOS (Intelligent Brake Over-ride System) apart from ABS (Anti-lock Braking System) and EBD (Electronic Brake-force Distribution). For Passive safety, it comes with pedestrian friendly front fascia, driver and co-driver seats have 3-point seat belts with pre-tensioner load limiters, seat belt warning system, airbags for driver and co-driver, collapsible steering column and side intrusion protection beam for the front cabin.
The front cabin with its twin cockpit ergonomic design with front wrap around bucket seats of high-quality fabric upholstery with adjustable headrests and air-conditioning enables the driver and co-driver have a comfortable & fatigue-free ride during the journeys.
Attention has been given to the Patient transport compartment while designing it to comply with all the AIS-125 Type C Ambulance specifications. It is fully equipped with the mandatory warning lights, flashers, sirens, side lights and PA system along with the high visibility stickers on the vehicle body. Care has been taken in making it durable and interiors hygienic, rust-free with PUF insulated GRP (Glass Reinforced Plastic) body panels.
The rear body is spacious, has fixed glass windows on the doors and sliding ones on sides. The wide rear doors can be fully opened for easy egress and ingress of medical response team members via the step and also while handing the stretcher-cum-trolley with the built-in ramp. The interior is finished in white and well-lit with rightly placed ambience LED lights. The well-designed layout provides for comfortable seating of the medical response members and attenders. It allows emergency responders to administer medical care swiftly and efficiently. Thoughtfully placed storage units have been placed within easy reach. It comes with a sliding window with the driver cabin with a black privacy curtain. The patient compartment has an external storage provision for oxygen cylinders. Hoses, oxygen manifold source and delivery system with oxygen humidifier, etc., as per AIS-125 specs., have been thoughtfully provided inside the patient compartment.
