Suc­cess for­mula

HT Estates - - Property Classifieds -

es­tate mon­eti­sa­tion of the town­ship. F1 will be the much-needed mag­net for peo­ple to get out of the Cap­i­tal city. The im­pact will be akin to the set­ting up of the Maruti fac­tory that brought thou­sands of peo­ple to Gurgaon in the early ’90s and to the Mahin­dra World City set up in the out­skirts of Chen­nai in the mid-’90s, which hosted au­to­mo­bile ma­jors such as Ford, BMW, Volvo and Hyundai and even an IT ma­jor, such as In­fosys.

“The global event is an ex­cel­lent an­chor strat­egy to bring a far flung area not con­sid­ered part of an es­tab­lished de­vel­op­ment cor­ri­dor into the main­stream,” says Sri­vast­tava.

What about ap­pre­ci­a­tion? Any emerg­ing cor­ri­dor around a metro city with a good cred­i­ble growth story can fetch at least 20% year- on -ear for the next five­seven years, he adds.

Ini­tially, many may want to in­vest in the area with the long-term view of get­ting high re­turns but even­tu­ally as the event be­comes an an­nual af­fair, it will be­come an end-user’s des­ti­na­tion. Stu­dios, ser­viced apart­ments etc are prod­ucts that will def­i­nitely do well once the lo­cal econ­omy de­vel­ops.

“The mid-to-long term suc­cess would be sin­gu­larly de­fined by the at­trac­tive­ness of the sports city to an en­duser in­stead of the in­vestors,” he adds.

The real es­tate growth story around this sports city is def­i­nitely go­ing to be dif­fer­ent that of Dubai as the lat­ter was tar­geted pri­mar­ily as a life­style prod­uct for the elite, which is not the case here. This one has some­thing for ev­ery­body.

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