Mixed-use real estate projects expand as buyers seek integrated lifestyle

Source: Business Standard

Mixed-use real estate projects are gaining traction in cities as developers focus on consistent cash flow, a broad rent base, and sustainability. Typically, mixed-use real estate is a combination of two or more asset classes in a single building or development.

Mumbai-based Hiranandani Group said it is focusing on mixed-use developments with mega townships of 250-500 acres in Powai, Thane, Panvel, and Alibaug in Maharashtra and in Chennai in Tamil Nadu.

“Dominant factors like access to daily convenience, proximity to prominent education and healthcare facilities, like-minded community, open spaces for recreational activities, and entertainment arena attracts homebuyers who are skewed towards integrated lifestyle. For many it also enables a walk-to-work lifestyle which enhances ease of living; said Niranjan Hiranandani, managing director, Hiranandani Group.

Bengaluru-headquartered BCD Group defines mixed-use projects as multiple asset classes designed for the end users, having components like living or residential, commercial, and office. Some mixed-use properties"