Wouldn’t it be nice if you had your office, house and recreational facilities in your neighborhood? In real estate circles, this is known as mixed used developments. With travelling time and lifestyle facilities gaining prime importance for new projects, this concept is being propagated as good choice for efficient urban planning. Taking into consideration the fast changing urban lifestyles, such developments have a number of benefits especially when it is located in the center of a city. Advocates of this concept are also of the view that such development means more effective utilization of space with more facilities. So why are they an attractive investment option?
• Such projects are self-sufficient and, thus, offer better living environment. With lower travel time between workplaces, houses and shopping centers, such development becomes a good investment option.
• The land provides more flexibility in use and therefore an investment gives greater return on investment.
• Mixed-use property projects are a good option at both upcoming and developed locations. Although, a project developed at a location that is already developed would have an edge over a new location.
• It is interesting to note that the demand for residential and commercial spaces feed each other. While on one hand the presence of commercial spaces creates demand for houses, on the other hand those who live in nearby houses become regular customers at shopping malls and entertainment centers.
• Such properties are closed gated communities and so the inhabitants are not worried about the security of their families.
Wave Infratech has come up with such project, Wave City Center in Sector 32 and 25A, spread in the area of 152 acres. Located in the heart of Noida, the project is one of the largest and most expansive mixed-use residential and commercial developments in India.
Source: Realty Plus, Business Today
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