commercial-real-estate-the-evolution-of-the-walk-to-work-living-concept
16 Nov 2024

Commercial Real Estate: The evolution of the ‘Walk to Work’ living concept

The walk to work living concept is slowly gaining momentum in the major cities. This is new concept of urbanism and this is inspiring housing developments, commercial office space in gurgaon as well as work place development in the vicinity of each other. The blocks, the walkable streets and the reachable public spaces play a very important role in such developments. 

What does Colliers Research have to say?

According to the Colliers Research, there are as many as 90 million sq. feet working spaces across India under different stages of construction are expected to be completed within the coming three years. To be precise, the IT and the ITEs districts of these cities will be promoting these walk to work concepts in the Indian cities.

The reputed Residential Developers in Gurgaon have already started trying the walk to work concept. The integrated developments with the colleges, schools, public spaces, malls within 500 metres to 1 km range will further encourage the walk to work growths. The Tier 1 Developers these days, tend to focus more on the integrated developments.

Walk to Work Living Concept- A Detailed Explanation

This very talked about Walk to Work concept inspires developments that include commercial premises, institutions, housing, entertainment zone, health care facilities and shopping centres near each other. Several housing complexes have planned in a way that everything starting from the accommodation to the working place, shopping centres, schools are all built within the vicinity.

Future- Walk to Work Living Concept

It is expected that with the rapid growth of the upmarket towers, commercial establishments and retail outlets, there will be a swift transformation in the suburban skyline. Several tall towers have already marked their presence and there are many more that are coming up.

There have also been a lot of infrastructural developments that have played a very important role in connecting the suburbs to the other locations. The emergence of a vibrant life style with the presence of some of the top notch brands, malls, restaurants have provided the home buyers access to high life style living. It is for this reason that the home buyers these days are looking for investment in those areas where they will be able to get a mix of leisure and convenience.

There are several people who have agreed to this concept and they believe that this culture should be adopted across the nation. This is because, otherwise the working people have to face several challenges to reach their work place. This is all the more true for the metropolitan cities where there is too much people and this makes the life of people travelling in the public transport very difficult. In some cities where there is rains for more than half of the year, these integrated complexes are like a dream come true. Moreover, in those cities where there is a lot of traffic, this Walk to Work concept will reduce issues related to traffic in a major way. During the office hours, 1 km walk can take more than 30 minutes to reach. On the other hand, if your work place is located nearby, that will help you save a lot of time. During the busy hours in the morning, just a 1km distance might take more than 30 minutes due to excessive traffic. Therefore, if the work place is nearby that helps in saving a lot of time and energy.

Conclusion

The rapid development with a rapid development in the commercial and the residential sector has led to several critical significances. These include increased pollution, road traffic issues, flooding and public safety. This in turn has reduced the livability quotient in the fast urbanizing metro cities. The collective annual infrastructure and investment in India amounts to about 35% of GDP. As per the evaluation of the government, it needs 1.5 million US dollars for infrastructure investment in the coming decade. Though this amount is huge, it will only possibly only help in bridging the infrastructure shortfall rather than creating room for the development of infrastructure in the future. If you are planning to invest, you can get in touch with a reputed company like Grrow Property Management. This is one of the best commercial property management companies and will help you with your investment needs.


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