- Infrastructure development in the adjacent area is one of the most important factors that impact the rate of property. The property rates are usually high in an area where the roads are constructed properly and the transport facility is well maintained. Mega cities like Delhi, Mumbai, Chennai and Bangalore are prominent examples in support of this point.
- If a city or town is better connected with the neighboring places then also there are chances that the property rates are sky high. People prefer areas that have a strong connectivity with the neighboring areas.
- People often migrate to cities that provide better employment opportunities. Therefore, the demand of property in such areas is very high and simultaneously the rates are also above average!
- In busy and populated cities the availability of land and property is quite low. Therefore, the value of land and property is high in such areas. Delhi and Mumbai are a perfect example of such cities.
- Commercialization of an area also impacts the price factor of the real estate world. An area with a number of offices and commercial projects is highly attractive and people want to live in such areas so that they can save time to commute to their workplace. In such areas also, the rate of property and land is extremely high! Gurgaon and Noida can be cited as perfect examples.
A real estate expert is nothing but a keen observer who keeps a complete check on localities and their costs. He is very well aware that when to strike a deal and earn maximum profit. In simpler words it can be said that a real estate expert is very well aware of the ongoing trends of this particular industry. For those who are highly interested in the world of real estate, here are five facts listed by experts of Madhavaram Constructions that influence property valuations in India:
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