How Important Is The Location In Determining The Value Of Property?


The major advantage of having a house at prominent locations in Mumbai is that it gives instant and healthy returns in a minimal time

Mumbai, being the fi nancial capital of India, attracts people from all over the world to invest in property as the city guarantees high returns and easy regular income on investments.Maulik Sheth, a developer points out, “Being a cosmopolitan city, people from all walks of life and community invest here.Also the better infrastructure and connectivity have brought the eastern and western regions closer to each other with several options for buyers to invest in the city.“However, in majority of cases, when it comes to purchasing a property, the buyer sees and gives first preference to location and infrastructure of the area.Each and every location attracts different price points and provides huge advantage to the investors to get better returns. Also a house in a progressive and developing neighbourhood costs more owing to the overall conveniences to buyers. Thus in case of price fixation from the micro and macro level perspectives, location plays a very important role.

The other advantage is that good and prominent locations give you instant and healthy returns in a minimal amount of time. This area could be near a sea-shore or could be surrounded by existing social infrastructure like schools, malls, hospitals, restaurants, etc or it could give you a scenic view from a highrise apartment.

At present, in terms of investment in potential areas, suburban Mumbai offers home buyers a good basket of options.There is a definite shift in buyers' preference to move into the suburbs, primarily due to luxurious lifestyle factors, more open spaces and better ambience. Manju Yagnik, vice chairperson of leading construction company, says, “Premium in the price of a particular location comes due to various factors like the neighbourhood, connectivity, good social infrastructure like schools, colleges, hospitals, malls, super market, restaurants etc. in its vicinity. This provides a certain amount of convenience to the residents and enhances lifestyle.“

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