RESIDENTIAL

The Benefits of Investing in a Mixed-Use Property

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While mixed use developments are not exactly a new concept, there has been a substantial rise in the popularity of such properties across the country. And for very good reason, as there is plenty to like about mixed use developments. Mixed use properties are essentially communities which house a variety of spaces - residential, commercial, retail, as well as recreational. This can be a place which allows residents to live, work, and socialize, all in one property. Offering luxurious 3 and 4 BHK apartments in Hebbal, Raintree Boulevard by L&T Realty is the perfect example of a residential property that is a part of a mixed-use development.

Why Should You Invest in Mixed-Use Property?

Enjoy Immense Comfort and Convenience An undeniable perk of living in a mixed use property is the fact that you can enjoy immense convenience, thanks to the close proximity to various amenities and facilities in the vicinity. Having the commercial as well as retail centers within walking distance of your own residence makes for quite a comfortable day to day experience. Being able to just step out of your home and having everything you could possibly need just a stone’s throw away is arguably the biggest benefit that a mixed use development has to offer to its residents. Convenience is always a welcome perk regardless of where you are looking to buy property, whether it is a 3 BHK in Seawoods or any other locality. Encouraging the ‘Walk to Work’ Culture Being in a residential unit within a mixed use property will help a lot in promoting a walk to work culture that has gradually become more and more popular in recent years. As the name suggests, it encourages people getting from their homes to work everyday simply by walking, given that the distance is not too long. Of course, this is mainly applicable only if your place of work is also situated in the commercial space of the same development as your residence. A mixed use development would help a lot in this trend, with commercial and retail hubs being situated in very close proximity to the residential units in the development. Embracing such a culture will help a lot in the collective physical and mental health of the residents, and will also do a lot to bring the community a bit closer as it encourages everyone to walk outdoors as part of their routine. Cleaner and Greener Mixed use developments are also a much more sustainable type of property in comparison to those which are for specific uses, for a variety of reasons. As mentioned above, such developments encourage a culture where people can walk to work as opposed to using automobiles on a daily basis to get to and from their workplaces. This will help a lot by reducing carbon footprints as well as reducing air pollutants as there will be less use of cars and bikes. Another aspect of this is the fact that most multinational organizations of various industries will mainly be looking to occupy offices in Grade A green certified buildings. This means developers of mixed used properties will build their structures to meet such certifications to attract such organizations, which can in turn even benefit the residential spaces.

What are the Risks of Investing in Mixed-Use Property?

A Longer Wait The development of a mixed-use property could end up taking a longer time than expected, due to the fact that such developments are tricky to navigate due to the number of aspects to pay attention to, as well as the sheer size of such properties. Having to accommodate several different types of spaces - from residential and commercial units, to social and retail centers - putting together such a complex project is certainly no mean feat and it could be a while before you see the final product. A Costlier Investment Investing in a home that is situated within a mixed use property could turn out to be costlier than buying one that is in an exclusively residential development, due to the nature of mixed-use properties. Due to the level of convenience and accessibility that mixed-use properties provide, the rates for homes may well be at a premium. Mixed-use properties can also house facilities for education, healthcare, as well as offices for any official authorities. They are the perfect environment for those of us who yearn for a place where we can live our everyday life - work, play, home - all in one place. One such mixed-use development by L&T Realty is Raintree Boulevard in Hebbal, Bangalore, offering luxurious 3 and 4 BHK apartments and a wide range of amenities and facilities. Other than this, whether you are looking for an apartment in Powai or South Mumbai, L&T Realty has a range of properties in multiple cities. Disclaimer: Image used for representational purpose only.

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