Master-Planned India: Urbanization and Economic Growth Fuel India’s Integrated Township Expansion
Master-planned communities, which combine residential, commercial and leisure facilities, are an ongoing trend in India, currently fueled by the country’s strong economic growth, increased urbanization rate and changing demographic patterns. With 100 percent foreign direct investment allowed by the Indian government since 2005, global institutional investors have taken note of this real estate investment opportunity.
Master-planned communities are not a recent phenomenon in India. Townships have existed in the country for decades, having been built in the era of regulations and heavy industry–led growth. Giant industrial plants built by public sector organizations and large private industrial groups had accompanying townships constructed for their employees, replete with healthcare, education and recreational facilities. Tata’s Jamshedpur with the steel plant, Reliance’s Jamnagar with the oil refinery and Sail’s townships with the steel plants of Rourkela a