While there are many factors that determine the future of investment in the real estate market, we bring to you the top 5 things that decide the value of property and price appreciation over time.
1. Location: The location of a real estate property is the most important aspect in determining its price appreciation and resale value over the years. Properties that are close to workplaces and prominent hubs, command higher value and people won't mind to pay the extra amount for their purchase. As for instance, real estate properties at Noida Extension and the Noida Expressway have better appreciation prospects that other properties in Delhi NCR.
2. Connectivity: Real estate projects that are well-connected with roads and other modes of transport get picked first by the buyers and investors, and therefore witness better capital appreciation. If your property is close to an airport or railway station, it has better chances of price appreciation and will attract more buyers in the future.
3. Infrastructure projects: There have been instances where property prices have increased significantly after the announcement of major infrastructure projects by the government or some private builders in the vicinity. Coming of an infrastructure project opens an array of opportunities, both for affordable housing and employment, for the people concern. An infrastructure project like metro rail expansion, construction of a mall, university or a hospital, increases the value of properties in the adjoining areas.
4. Quality of the building: First impression of your property can make a huge difference in the buyer’s mind on whether to go forward or refuse at the very instance. An occasional renovation or a revamp can easily help you get a better price for the house. Most buyers like ready-to-move in properties where they don't need to spend money for overhaul.
5. Localities with safer environment: With several instances of crimes becoming the front page news every now and then, people are performing a thorough due diligence to ensure the locality is safe for their family and friends. Real estate properties in areas with a high crime rate, heavy traffic problems or improper garbage disposable system, ought to divert the interest of prospective buyers and hence witness poor appreciation over the years.
Mr. Anil Mithas, Chairman & Managing Director at Unnati Fortune Group, says - “People are becoming more conscious than ever before while investing in a real estate property in Noida. With changing market trends and a fresh approach from the government towards infrastructure development, there are many real estate builders offering properties that offer maximum capital appreciation to people looking for investment in the real estate.”