Relocation Makes Sense In Real Estate

Relocation is new mantra or trend in today’s real estate industry. Apartment owners or property owners who had been living a peaceful but luxurious life in posh areas now find the rapid commercialization in their areas and decided to sell their property and buy reinvest that money in plots that are one-third the price a little away from the congested parts of the city. Most discussions of building renovations often take the course of sale. In cities like Mumbai, the story is different. But the buildings in other cities such as Bangalore, Chennai Hyderabad are far younger than Mumbai and it lacks a well orchestrated redevelopment law.

Should You Stay or Go?

Apart from the enticing land value, many who had been living a peaceful but luxurious life in posh areas now find the rapid commercialization in their areas too distracting to suit their temperament. It is, therefore, tempting property owners to sell the property in city and reinvest that money in property away from busy city.

You can profit from an intelligent remodel, but in reality, some remodel projects are not worth the investment or effort. If your current house isn’t everything you want or need, you could buy a new one.

The real estate industry in India is at its zenith and is thereby attracting the maximum investment. It makes sense for the property owners to sell their plot and reinvest that money in plots that are one-third the price a little away from the congested parts of the city.

Recently, eight owners of an apartment complex in the highly-commercialized Indiranagar-Bangalore summoned a reputed renovator-cum-developer and sought his quote for getting the apartments redone. As they poured through the estimates, they discovered that renovation would cost them a small fortune. As the discussion progressed further it become apparently clear that selling the plot would make better commercial sense than going in for renovation. The residents instantly took a decision to sell the plot and apportion the amount between them. With the money they would raise from the plot sale, they plan to buy a villa in the suburbs of the city.

People are moving towards the suburbs due to heavy congestion in the cities and rapid commercialization in their areas too disturbing to go well with their nature. The properties in suburbs are affordable and most of the villas offer superior design, structure, and elevation and have luxury amenities. Most projects coming up in the suburbs have their own independent power backup, water sources and sewage treatment plants. Disposing of their property and withdrawing to quieter areas assures them peace and a great sum saved from disposing of property and plots.

Disclaimer: The article contains data collected from various sources and the use of same is at readers discretion.