Real estate statistics in India recently have proved that property valuations have resulted for the better. The real estate sector definitely is on the rise, with the growth thrust being provided by several important factors which affect the prices of property in the country. Let’s look into two of the common mantras in real estate which can determine a home’s value.
In a real estate boom, home buyers demand almost any house that hits the market. This is great while it lasts, but only the homebuyers who choose the best locales will be holding the most valuable property which also tends to depreciate at a much slower rate. The location is largely the reason behind the difference in the value of a property. Real-estate properties that are located in commercial areas hold a higher value compared to their counterparts in residential areas. It is common to see that the price for buildings in well developed and approved colonies are higher compared to those in the lesser developed and upcoming areas. Similarly, properties that are constructed on freehold land have a higher valuation compared to those on leasehold plots. The location of residential property in a city directly affects its market price. Each location provides a different value as per accessibility, neighbourhood, traffic, socioeconomic level or presence of green areas. In addition, location also has an influence on the choice and on the offer price of each residential property.
The valuation of real estate properties with better infrastructural potentiality and modern amenities are always costlier than those which fail to provide facilities like proper electric connections, water sewerage facilities, telephone lines, and all other infrastructures like community centres, swimming pools, children parks, gymnasiums, parking lots or general stores. The valuation of property is clearly based on the availability of necessities and facilities along with comfortable housing.
A good location or a home with great amenities can signify different things to different people, of course, but there are also objective factors that determine a home’s value. The valuation of a property is also affected by factors such as demographics, interest rates, location and the state of the economy. Correct insights in regards to the right time for purchase of property, price escalations, recession in the real estate market and other indicators, also help in making valuable purchase decisions.
Both the housing units of Techman Moti City and Moti Residency are aptly located and have world-class facilities. They meet all the expectations of a home buyer.