Upcoming infra projects: Buy now or wait?

It is an undeniable fact that a proposed infrastructure project tends to push up the property values. This is because the infrastructure project becomes the USP for the developers or property owners and buyers. What kind of infra projects make an impact on property prices? Which is the best stage to buy a property? How much appreciation can be expected in property values? These are a few common queries that come across while buying a property.

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To advise you on this, Magicbricks organised a GuruTalk, a live chat session with Rajeeb Dash, head – Marketing Services, Tata Housing Development Company Limited. Topic of the discussion was “Infra projects coming up, should I buy now or wait for development?”

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So, is it a good idea to purchase in and around the locality where the infrastructure project is coming up? Dash says, “It would be good to invest in a location where the infrastructure project is coming up as the property prices will see appreciation. But one should invest in the project at an early stage ie phase 1 of the project.”

He also suggests that it is wise to check the developer’s details before you sign the dotted line.

What kind of infrastructure impacts the property prices? “Infrastructure that enhances the connectivity impacts the property values the most,” said Dash. Giving an example he said, “If there is a metro station, the price should appreciate by a minimum 10 per cent as compared to your neighbourhood price.”

In case of cancellation of the infrastructure project mid-way, Dash said, “One may loose on the appreciation that would have happened as real estate depends on such developments. More end users invest in properties, based on such infrastructure projects”.

As a word of caution Dash suggested that before investing, one needs to check that the location you have shortlisted has both physical and social infrastructure and whether the product that is getting developed suits your requirements or not. It is also wise to check the ticket size and price before investing.

Source: http://content.magicbricks.com/industry-news/upcoming-infra-projects-buy-now-or-wait/78254.html