Developers are now looking forward to launch mixed-used projects in order to buck up themselves in the current real estate situation.
As it is clear by the name, mixed-use development projects are a club of two or more classes of assets developed in a building. These different kinds of asset classes should be physically united, functionally complementary and mutually supportive of each other.
The motive and idea behind this lies in the fact of the interdependence and complementary nature of these asset classes, for instance, people going to office would prefer to stay close to their homes. Similarly, retailers would like to be in the vicinity of residential areas as it guarantees them more customers.
Various mixed-use development projects have already come up across different regions of the country whereas several others are under the planning-process by reputed developers.
Some of these prominent developers include Uppal Group which is planning mixed-use township on Dwarka expressway in name of Gurgaon 99, to be located in sector 99 of Gurgaon. While other developers such as DLF, M3M Group ad TDI Developers are also looking forward to come up with projects with same concept.
This concept will prove out to be efficacious if the layout is designed in such a way that there is an easy flow of various activities between asset classes at every point of time. For instance, there should be smooth movement of traffic, sufficient parking space and control over the noise issues.
Both the developers and buyers are will get benefitted immensely from these kinds of projects. Buyers will be benefitted as everything important to their day-to-day life will be within their proximity. They can travel down to office, their children can go to schools and play in parks, all this within the same township!
Similarly, developers will be at benefit as it’s a concept with very high returns and constant cash flow. Through this concept, the land is put to a flexible use. And most importantly, residential and commercial projects go hand-in-hand as they greatly benefit from each other.
These dynamic projects have become extremely popular across the globe as they look after all the needs and wants of the consumers. This has increased their demand and value, both socially and economically. With the growing trend of fast lifestyles that people are leading, this concept is sure to become the leader of real estate in the future.
This is because everybody would want all the necessities within their shortest reach possible!