How TOD is Transforming Realty

My insights?in Times Property on “How TOD is Transforming realty”,

“TOD will transform the future of urbanization and will have a major impact on various sectors especially the real estate sector. This transformation would attract a lot of investments to the respective cities and increase livability in a sustainable manner due to the following factors:"

-??Increased developable area: TOD opens up dense developments near transit nodes through relaxed FSI thereby increasing the developable area in the same piece of land. Increased FSI along transit corridors, will result in an increased land cost of about 10 to 15 per cent, projected to be about 1.6 to 1.7 times the existing Guideline Value.

- ?Impact on property values: "TOD aims at creating a balanced mix of land use through concentrated residential development at a walking distance of 500 to 800 m along the transit corridor or from the transit station. This increases walkability, along with the use of public transport options,”

TOD not only frees the residents from their daily commuting hassles but also offers a collateral benefit of a boost in property prices as an additional premium for residential premises situated close to the public transit system.

-??Retail and commercial spaces: TOD also impacts and changes the dynamics of commercial real estate to a great extent. A variety of high-density, mixed-use, mixed development with retail, office, and entertainment options made available close to MRTS stations and within convenient walking or bicycling distance of one another promote a lifestyle shift toward healthy living and a higher quality of life. TOD creates a chance for commercial and retail development to expand. Globally, around 26 to 30 per cent of the developed country’s population and most of the job centers are along such corridors. However, in India this trend is slowly trickling down to Indian cities which accelerates the need for TOD leading to liveable and sustainable cities.”

JLL India , Times Property , The Times Of India , Jadav Kakoti, Simon Thomas, MRICS, FITP ,

#Transitorienteddevelopment #TOD #Infrastructure #Detailedplanning #Development #Infrastructure #Commercial #Retail?#commercialrealestate #urbanization