Urban Development in India today
With growing population and expanding cities it is important to address the need of providing adequate infrastructure to every section of society living in cities. Each year, there are number of schemes and programmes proposed by central and state government but shelved within a short span of time due to inadequate funding mechanisms. Municipalities are not able to perform efficiently in providing even basic services to people. The biggest drawback in Indian municipal system is its dependency on grants and funds from higher tiers of government, they make less efforts in improving efficiencies with regards to generating own revenues and allocate it in various programs wisely.
With all these inefficiencies many developers are providing one stop solution to all urban woes in integrated townships. These townships are conceptualized, developed and managed by private developers who are ultimately responsible for providing all the amenities to people living in those townships. Integrated township is now the buzzword in the infrastructure and construction industry. Right from pure play realty developers to the companies which are operating in the infrastructure and construction space almost all the well-known names in the industry, today, are talking about investing in township projects. AIntegrated townships are an important segment and certainly provide a good business proposition to developers. As the cities are expanding and as people have to travel longer distances with traffic congestion becoming a common hindrance, integrated townships promise a congestion-free living environment within them and help in decongesting the city. Although they cater to niche population right now but they offer better standard of living and ambience, which are much ahead of the times.