The received wisdom says, a project situated in a location having paucity of infrastructure and connectivity, conveys the dim view of its realty persona.
Yes, infrastructure and connectivity are two of the most substantial factors improving the realty persona of a project situated in a location/region. That’s because buyers prefer such locations that can fulfill their requirements with regards to living a well-balanced and comfortable lifestyle. Both the factors are of considerable value, allowing residents to indulge into frolic traveling somewhere outside the habitat.
The importance of sound infrastructure and connectivity is vital for lucrative expansion for the realty.
How infrastructure and connectivity contribute growth to the realty?
A region fraught with iconic residential and commercial projects made by top-notch developers can’t witness its lucrative prospect if not supported by sound infrastructure and connectivity facilities. They are the vital essentials contributing region’s development in this context. In fact, these two essentials are growth catalysts and improve realty significance of the location.
India alone is not the sole example of the nation depending on the holistic infrastructural development for the possible boost to its realty sector, but this phenomenon exists worldwide. Every nation’s realty performance is subject to holistic development of its existing infrastructure and connectivity in a particular region.
For the expansive progress in the real estate sector, focus on both the factors is inevitable call. From the standpoint of a common man, a long-haul traveling on the busy roads is an emphatic negation. Perhaps none can afford to such nefarious indulgence for recreation purpose or official purpose for that matter. This calls for the need to seriously prioritize development of the sound connectivity system. And this is vital for commercial establishments situated in a place not well-connected with transit facilities.
Commercial real estate can witness boom if the locations of any commercial establishment has better road connectivity and infrastructure facilities to the utmost convenience of the investors, as such property’s rental values increases manifold. To state otherwise, better road network enhances the economic and social prospectus for the commercial property as well as increasing realty value of the nation.
Sound infrastructure induces approachability, as traveling time between places is minimized to substantial extent. Vehicles not usable for long-haul journey due to expensive fuel consumptions also call for the need to have location well connected and equipped with infrastructure means. The bottomline is – sound infrastructure minimizes travel time, thus offering convenience to working men and women. Means, commuting becomes absolutely convenient. This in turn spells enjoyment and comfortable lifestyle for people, as time reduced in traveling from office to home spares much time to mingle with friends and families.
Contribution to residential real estate sector
If the location of a project doesn’t offer close proximity to important infrastructure facilities, then the project loses large fraction of its due attractions for potential buyers. Facilities like hospitals, educational institutions, and other civic regional facilities must have comfy approachability. If these facilities are not accessible within the convenience of people, the likelihood of dwindling value of the location as well as the property happens.
- Infrastructure facilities like metro stations and bus stand located in the vicinity improve USP of any commercial real estate. Builders prioritize the necessity of building commercial establishments that can offer close accessibility to these infrastructure facilities.
- During the time of sales, commercial or residential properties in locations with better road connectivity have more rental or buying values. Even for the redevelopment purpose, these properties with such facilities witness enhanced values.
Quite understandably, infrastructure and connectivity have their importance to boost the value of residential and commercial realty sectors. Proximity to key landmarks through quality infrastructure facilities adds value to your residential place.