Mixed Development Projects Focused By Developers

Chennai seeing the largest residential projects in the suburbs of the city focusing on mixed development having apartments and villas catering to multiple economic segments housed in the same project. Residential property of Chennai is seen as a step towards inclusive living and part of the evolution of integrated townships. Chennai developer breaking the tried of the tested concept of constructing apartments blocks. These days developers are experimenting with mixed development wherever it's possible.

Property of Chennai are typically spread across large tracts of land that runs more than 25 acres and contain apartments, villas, bungalow apartments, duplex houses all of these in the same project. Such residential property are possible only when large tracts of land are available and they can naturally be planned only in the suburbs and outskirts of the city. An important factor here is an optimization of land costs.

Seeing the developer's perspective, the financial sense is only venture into such development in large planned townships. Some of the residential property of Chennai has a variety of housing options across economic and lifestyle categories – a mix of high rise and luxurious apartments, affordable homes, smart homes, to name a few. These residential property is gaining popularity and developers believe that this approach makes economic and social sense the case of large projects.

In large format developments it's necessary to cater to multiple segments and create something for every aspiring home buyers which fosters inclusive living. This mixed development is drew inspiration for the project from similar successful models in Europe. The developers of Chennai has the idea to create small township cities that are self-contained and hence environmentally friendly. These residential projects are well planned townships which are ensured that all economic groups from rural and urban sections are accommodated at one place.

The residential property also offers better saleability as it caters to multiple economic segments. Where most of these projects are in various stages of planning and construction in and around Chennai. Mixed development is a good concept to manage such properties that pose a challenges. Each type of residential development – villas, apartments etc – requires a completely different set of amenities including security systems. Planning and maintaining of mixed development projects is going to be a challenge and since the city doesn't have a working model yet they'll have to wait and see how this pan out.

For example: Mumbai based developer Mahindra Group have believed in catering to various segments in their projects. They started working on the ambitious of Mahindra World City project located in Paranur, the company was sure that they wanted to build city that was only best in the class which will also cater to different segments of society. When this project was planned Mahindra World City they realized that they have to take into account the different demographics and psycho-graphics of the people who will live there. Believing in philosophy where projects will cater to all segments.

There definitely is trend towards such developments it may not be feasible all the time because it could result in a mis-match. When people look at buying a residential house of their dream they usually prefer an environment that matches their sensibilities.

For the developers it makes a lot of sense as it will allow then to utilized FSI to the maximum as a mixed segment will include villas, row houses and apartments. The companies are quite keen to work on a residential project like. But their first attempt failed to the restrictive approval policies of the CMDA (Chennai Metropolitan Development Authority). Mixed development can be seen in Mumbai suburbs too like Andheri where several developers have taken up such projects.