A business man with masters in mechanical engineering having vision in business sectors such as real estate, Automobile, food & technology.
The real estate market graph always moves higher, though gradually but never in the downward direction. Growth depends on a lot of factors and does not merely depend on supply. A projected increase in demand or sales is a sign of the market catching up, but other developments affect the demand. Investing in properties is like investing in gold, prices go up always, sometimes stable for a few months, otherwise rising with time. When any other region is developing, their surrounding regions have low growth rather. Also, at certain places where property prices have skyrocketed already growth would be very slow as few can afford to invest and buy properties at exorbitant prices. In such scenarios, folks look around areas having decent price tags, good connectivity, also satisfying their essential and emergical needs. Important factors which almost magnify the growth of a region and its impact on the development of other regions are:
Next to Big Cities.
Megacities like Mumbai, New York, Tokyo, Shanghai, Mexico, and other big cities of the world where life is fast-paced, supposed to be dream cities, every major international company has one corporate office at least, with maximum connectivity and all other opportunities of life. Nearby regions connecting straight through commuters to work or indirectly through other resources or raw materials are the next developing region. Considering an example of Mumbai city which is also called a city of dreams, the city has everything right from rich to poor, big shots to the middle class, largest & smallest offices, jobs & businesses from rags to riches, Period! Other connecting cities or regions like Pune, Nagpur, Navi-Mumbai, Nasik, Central Mumbai, Suburban Mumbai, and areas beyond getting developed so fast. Pune city’s population grew from 6 Lakh in 1951 to 68Lakhs+ in 2021 according to the world population review. Along with Pune, Thane, and Nasik, cities have grown fast, according to the Times of India. One of the biggest reasons for fast growth is the connectivity of the city with the mega Mumbai city. The More the population, the more the demand for homes and offices, more is the development in real estate. Many people travel from Pune to Mumbai & vice versa for work. Pune city to grow into the next IT hub. Nasik city is famous for its fruits and vegetable market business. Every other nearby portion of a megacity, without doubt, develops the real estate market starting from low prices and growing feet by feet for the next 10-15 years making a good option for the buyer, seller, and of course investors.
Next to Industry Hubs.
People travel anywhere to earn their living. Likewise, business markets and hubs attract people from all places being the farthest to nearest. Small-scale industries boost the GDP of a country and are bread and butter providers to major folks. Interesting to note that the population across industries and markets is always more and in the same way nearby premises rates of home, business, dormitory, hotel, or any small space are always demanding for rental as well as buying purposes. Rates and demand in such regions are going to rise with time and the region will also expand as businesses and population growth.
Next to Growth Centers.
Growth Centers get developed as planned development of integrated villages or regions altogether. Allotted areas spreading in hectares auctioned from planning authorities to reputed builders and developers through tenders like CIDCO-NAINA, New Panvel to name a few of them. Development of essential goods and services get developed to serve surrounding inhabitants, having controlled and monitored growth. Growth center theory linked with a growth pole was first introduced by French economist Mr. Francois Perroux around 1949. A certain percentage of land kept reserved and under observation and converting its usage development later as per nearby developments. Smart developments are like an example of 10-15% of the total development region serve as growth centers, 40-50% for projects, and 20-25% for physical and social infrastructure. Smart city projects have consistent growth, demand, and of course affordable.
Follow ELL Rule
- Early investment- Investing during the initial phase of development like under-construction projects, a region which will get developed in the next 10 years, buying property at a discounted price like stressed assets in bank auctions. Try to catch first bird offers whenever you can.
- Long-term investors- A minimum of 10 years of investment can fetch excellent returns conditioned to the rates at which you had purchased need to be below average property values nearby and the region should have a scope of development and growth. The price of properties goes up always with time, the longer you stay invested, and the heavier are the returns.
- Location with fine connectivity and real estate infrastructure - Areas having fine connectivity like metros, trains, and modern infrastructures like malls, theatres, play hubs attract good crowds leading to more development and growth opportunities and at the end of the day into good returns.
Real Estate Growth - In Nut Shell
Real estate market, prices, and demand increases where the future connects your present somewhat. You’ll find growth in nearby regions of a big megacity, industry markets, and growth centers. Wherever you invest, invest early and stay invested as long as you can. In the long run, three parameters which boost the growth are low to medium property prices, bread- butter opportunity, and nearby regions of mega townships, believe it or not, growth would be immense where these parameters getting gratified. Real estate growth is sometimes slow but always rising higher with time.
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This content reflects the personal opinions of the author. It is accurate and true to the best of the author’s knowledge and should not be substituted for impartial fact or advice in legal, political, or personal matters.
© 2021 Hiren V