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The infrastructure in any given location largely determines the value of property in that area. Naturally, the value of a property in an area with poor physical infrastructure would be lower than the one with strong ones. This is due to the lack of connectivity through train, air, or road to the region. Therefore, it stands to reason that the presence of good infrastructure influences property value significantly. Apart from transportation, infrastructure encompasses the overall public facilities available at a location. The demand and price of properties have a direct correlation with the distance from workplaces, public amenities, industrialization, and opportunities.
Reports reveal that the Indian real estate market would be growing from INR 12K crore in 2019 to INR 65K crore in 2040. In spite of the pandemic, there has been infrastructural growth in the country, fueling this growth in real estate. One should note that it took more than twenty years and a number of policies in the real estate sector to make it such a conspicuous segment of the economy in India. For the real estate industry, 1990 happened to be a golden year. MNCs and companies got the permit to establish themselves in the country and Mumbai turned out to be India’s financial capital. As there was a boom in real estate, cities like Kolkata, Chennai, and Delhi also experienced infrastructural development. Thanks to industrialization, the country witnessed the development of roads. Property prices increased in the metro cities. Smaller industries kept moving to the smaller cities like Noida, Gurgaon, Panvel, and Navi Mumbai.
Urbanization took place in many parts of India. This accelerated the demand of properties in both the residential and commercial sectors. As a result, different businesses have come up in these cities to cater to the requirement of the population there. Moreover, houses and other personalized properties have also gained popularity. People also have more purchasing capacity now, and they have started investing for their future.
Therefore, it is evident that the infrastructure in an area has a direct connection with real estate in a particular area. The value of real estate largely depends on the kind of infrastructural development the area undergoes.
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