How is a theme township different from other residential projects? 
Theme-based townships are usually large-format integrated developments that do not depend on government infrastructure. Here, developers define a lifestyle based on a theme that the buyers step into. They take care of the basic civil (roads, water supply, etc) and social (malls, clubs, community centres) infrastructure.
How does it help the buyer?
If the project is under construction, the theme on which an integrated township is built helps potential buyers to visualise the kind of lifestyle they will enjoy. For instance, someone who likes to play golf or enjoys vast green spaces would prefer to buy property in a project that is based on a golf course.
Are developers narrowing their market by working on themes?
Manu Goswami
To overcome this problem, developers should go for universal rather than specific themes. For instance, water is a proven universal theme. Some of the most expensive real estate in cities around the world like Amsterdam or St. Petersburg are next to a water front. Developers are essentially trying to differentiate the market in terms of buyers. Most people equate affordable housing with a compromise in quality. With a good landscape around the project, this doubt can be taken care of to a large extent.
What are the factors that a buyer/investor should keep in mind?
The quality of life in a theme-based property is heavily dependent on the execution of the plan. This is where the track record of the developer comes in. One should consider the project deliveries by the developer in the past and go through the development plans more closely. Is there enough space for a golf course or a theme park? Is there a water body, and, if yes, is the water stagnant or moving? How many phases will the project be developed in? Also, while there may be a slight premium for the best views, a close look at the plan will give you the view that comes with your budget and property.
Manu Goswami is the head of marketing & sales, Jaypee Greens.
