Factors that influence property valuations in India
Various factors influence property valuation in India. A property expert can help you in terms of when to invest in a project, the right time of property rate appreciation, property rate decline and other such factors. A property expert is an observer who observes specific areas and localities which are expensive or become expensive over a short period of time.
Factors which influence property valuation;
Infrastructural development:
This is one of the important aspects which influence property valuation in India. Infrastructural development in the surrounding areas can be in any form like roads, flyovers, metro, airport, malls, bus terminals and so on.
Commercial real estate development:
Commercial development refers to the development of IT offices, malls, special economic zone (SEZ), etc. Most of us would definitely invest in properties which are nearby our workplace, retails markets, schools and so on. This can be seen in cities like Gurgaon, Noida, Mumbai Andheri-Borivili, Navi Mumbai, Pune & Hyderabad.
Amount of disposable income:
Not many of us are aware about the fact that a property valuation is also influenced by our disposable income amount. This is one of the key factors and a place with IT hubs have more valuation compared to manufacturing or agricultural hubs.
Availability of land:
This is another important factor which drives the property valuation. An area with a large amount of land available for residential purposes appreciates slowly when compared to areas with scarce land.
Connectivity:
Property valuation also greatly depends on the connectivity. An area that is connected to business and entertainment hubs will be highly priced when compared to area that is not. Other factors like the home loan interest rate, inflation and others also influence the property valuation.
