For any real estate region to perform
and grow, infrastructure and connectivity serves as the backbone. Every
resident and user thrives for a habitat which is able to meet there daily needs
and, infrastructure and connectivity plays this role of fulfilling the need.
For any resident, a decently developed infrastructure in the neighbourhood
allows them to live a peaceful life and those who are not the residents of a
region are dependent upon good connectivity to commute hassle free and meet
their respective needs, which can be official commutation, recreational
travelling and others. Thus, real estate sector can only succeed once there
exists sound infrastructure and connectivity for its users.
“History has been a witness to how
well-developed infrastructure and connectivity shapes up the real estate
prospects of a region. There exist a direct relation between real estate in a
region and the region’s development with respect to infrastructure and
connectivity. You talk about India and other countries, everyone’s real estate
performance bets upon decent infrastructure and connectivity in the region to
make sure that target audience is grabbed for short term which can be carried
till long term as well”, explains Mr. Vivek Gupta, Director, Vardhman Estate &
Developers (P) Ltd.
Integral part for commercial real
estate:
Who likes to travel for hours on busy
roads with long hauls to reach office or a place for recreation? Thus, a
commercial property can never be a hit if the region does not get support of
good connectivity. Mr. Ajay Rakheja, Co-Founder & CEO, Creindia.com
explains the importance of connectivity and infrastructure for commercial real
estate, as he elucidates “Localities with better road connectivity always get
picked first in case of buying or developing the property. Efficient road
network maximizes the economic and social benefits for the country. On the
other hand, once connectivity is attained, infrastructural development is bound
to take place. This feat once achieved, allows companies and offices to get
setup thereby enhancing employment and economic growth opportunities in a
region. We hope that the government takes up Commercial For All parallel to
Housing For All”. Agreeing and adding to the fact, Mr. KushagrAnsal, Director,
Ansal Housing states “Commercial real estate majorly requires good
infrastructural arrangement in vicinity such as metro stations, bus stands,
taxi stands, parking lots, etc. so as to aid the daily commuters. Also, it is
very important to have a belt of commercial properties in one region to support
the residents need and based on this concept, currently many regions are been
developed with majority of commercial presence”.
Highlighting the significance of
connectivity for the commercial real estate, Mr. Ankit Aggarwal, CMD, Devika
Group avers “If the commercial properties are not well connected, it becomes
nearly impossible to sell them. It is extremely important to have good
connectivity and transportation facilities available nearby so that it becomes
easier for users and buyers to buy, lease and use a property. At times it is
better to develop commercial property in regions with connecting roads and
highways. There we have lot of land parcels available plus it becomes easily
accessible for the people and also avoids nuisance in the compact residential
areas”. Extending on the same but with a different outlook, Mr. Sushant
Muttreja, CMD of Cosmic Group is of the view that commercial real estate has
lost its lustre over the time as regions in India are still much short on the
connectivity front. He says “It’s very crucial to analyse and access the demand
of a commercial property versus a residential property. Once a commercial
property sets up in a region, it banks high on external catchment and if the
location is well connected with decent infrastructure, it becomes 50 percent
easy for the commercial property to meet its supply. This sight has been
greatly missing in Indian real estate sector, where the residential real estate
has been immensely worked upon and commercial real estate is still to receive
its due; something which has recently started to gain importance after the
‘Make In India’ initiative”.
Correct push for Residential front:
Another side of real estate sector is
residential, which presently is under a series of governmental pushes
especially through Housing For All initiative. But the main question is; what
is the point of owning a house which is neither well connected nor is in
proximity to vital infrastructural facilities such as schools, hospitals,
education institutes and other such civic regional amenities? Therefore,
connectivity and infrastructure hold a key place in shaping up residential real
estate in a region. Looking into the micro factors which actually make a huge
difference in one’s lifestyle, Mr. Rajesh Goyal, Vice President CREDAI-Western
U.P. & MD, RG Group explains “Connectivity and quality of roads reduces the
travel time between places hence increasing the approachability between them.
Connectivity improves the social meetings with friends and families with low
fuel expenses, low travel time and low distance. Travelling to workplaces also
gets improved as the amount of time taken for reaching workplaces is reduced.
As the time taken to travel to workplaces is reduced; hence people can enjoy their
life apart from the office and spend more time with friends and families thus
enhancing their lifestyle”. Adding further, Mr. VikasBhasin, MD, Saya Group
states “In a country with shortage of housing, the ready and purchased
residential units today are either put on rent or end use. In both cases, the
property being used requires a good habitat in vicinity without which, residing
becomes out of question. Hence, to answer this question, good connectivity and
presence of strong infrastructure are two crucial factors to meet this
requirement thus highlighting there importance”.
There are two ways of properly
connecting a property; one, choosing an already well-connected location and
other, developing the property and then waiting for connectivity to improve.
But speaking off infrastructure, it will always become crucial to meet the
initial and continuous footfall in a region. “Several emerging destinations
across the country are unable to make an impression on the potential buyers due
to the absence of proper infrastructure. A residential property buyer will
always buy once the region where he’s investing has a sound infrastructure in
place. This not only allows residents to receive a good habitat but at the same
time, receive future capital appreciation which is only possible with
developing or developed regions”, enlightens Mr. Ashok Gupta, CMD, Ajnara India
Ltd. Explainingfurther, Mr. VikasSahani, CMD, Property Guru adds “Why real
estate regions are categorised into various tiers? Different tiers demonstrate
the development and acceptability of the region. A buyer planning to reside
immediately in tier 4 regions will face problems of poor infrastructure and
connectivity, whereas tier 1 region will meet those demands instantly. The
reason of differentiation is nothing but the infrastructural development of the
regions and hence, even for residential demand infrastructural development is a
necessity”.
Commenting upon how these two parameters
have always acted as the backbone for the sector and will serve keep on serving
in its future to come, Mr. Deepak Kapoor, President CREDAI-Western U.P. &
Director, GulshanHomz concludes “For the development of a region,
infrastructure and connectivity go hand-in-hand and are of utmost significance.
Without either one of them, the region can only witness growth at snail’s pace
which in present time, won’t be considered suitable for development and
returns. Finally, with government’s ongoing pushes like Smart Cities, AMRUT and
Housing For All; it will be most crucial to ready the country with stunning
infrastructure and strategic connectivity so as to provide the perfect platform
for unstoppable growth of the realty sector”.
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