Do you live near schools, hos­pi­tals?

The suc­cess of a res­i­den­tial project de­pends on avail­abil­ity of in­fra­struc­ture

HT Estates - - HTESTATES - HT Es­tates Cor­re­spon­dent

In In­dia, it is a real es­tate maxim that most peo­ple on the look­out for homes will al­ways seek out lo­cal­i­ties that are close, or as close as pos­si­ble to their places of work. Con­se­quently, res­i­den­tial projects with good con­nec­tiv­ity – specif­i­cally road and rail in­fra­struc­ture - ex­pe­ri­ence the max­i­mum sales trac­tion.

From good roads to proper drainage and wa­ter sup­ply, in­fra­struc­ture con­sists of all the man-made phys­i­cal at­tributes that help to de­velop a sus­tain­able com­mu­nity. If a lo­ca­tion does not have th­ese very es­sen­tial fa­cil­i­ties, it will not work as a res­i­den­tial des­ti­na­tion, no mat­ter what else it of­fers.

From a real es­tate mar­ket per­spec­tive, it should be noted that in­fra­struc­ture means a lot more than just phys­i­cal in­fra­struc­ture. By this logic, so­cial in­fra­struc­ture in­cludes schools, hos­pi­tals, shop­ping malls, post of­fices and other es­sen­tial gov­ern­ment ser­vices, and fa­cil­i­ties of leisure ac­tiv­ity such as sports com­plexes, swim­ming pools, parks and gar­dens, etc.

Road con­nec­tiv­ity

Roads, in­clud­ing in-fa­cil­ity roads in res­i­den­tial town­ships and l i nes of con­nec­tiv­ity to the city cen­tre and work­place hubs de­fine the qual­ity of a res­i­den­tial neigh­bour­hood. That said, there def­i­nitely needs to be the right kind of bal­ance when it comes to roads and their abil­ity to drive res­i­den­tial sales - peo­ple do not want to live too close to hos­pi­tals, bus de­pots or in­dus­tries, but nei­ther will they want to be too far away from them.

Wa­ter, elec­tric­ity sup­ply

There are sev­eral towns and sub­urbs that are not yet well in­te­grated with proper wa­ter and elec­tric­ity sup­ply. Homes in ar­eas and projects that do not have steady wa­ter and elec­tric­ity sup­plies sell only to ex­tremely bud­get-strung buy­ers who are will­ing to wait for th­ese ser­vices to ar­rive at some point. As many news sto­ries and con­sumer fo­rums tell us, they of­ten have to wait for years to­gether, and mean­while their home in­vest­ments erode steadily.

Sew­er­age

Even av­er­age res­i­den­tial fa­cil­i­ties need to be equipped with proper mea­sures of san­i­ta­tion, in­clud­ing sewage and waste wa­ter dis­posal, garbage re­moval, mu­nic­i­pal road clean­ing, and other associated ser­vices. Nat­u­rally, ev­ery home­buyer will take a very close look at this as­pect be­fore de­cid­ing on a project to pur­chase into.

Schools and hos­pi­tals

School- re­lated com­mut­ing can take an in­cred­i­ble toll on the health and also aca­demic suc­cess of chil­dren, so In­dian par­ents are ex­tremely fo­cused on buy­ing homes that are close to good schools. Hos­pi­tals are an­other el­e­ment in a lo­ca­tion’s in­fra­struc­ture that is a piv­otal con­sid­er­a­tion for ev­ery home buyer.

Parks and gar­dens

Home­buy­ers are ready to pay more if they can move to a lo­cal­ity that has of­fers close prox­im­ity to parks, lakes and re­lated re­cre­ational fa­cil­i­ties. For this rea­son, many mod­ern apart­ment com­plexes are now also in­clud­ing ar­ti­fi­cial lakes and gar­dens in­side their com­pounds for the ben­e­fit of their res­i­dents.

It is be­cause of th­ese rea­sons that in­te­grated town­ships, that boast of all mod­ern in­fras­truc­tural fa­cil­i­ties, have be­come a rage in the In­dian real es­tate do­main. Peo­ple are will­ing to pay a lit­tle ex­tra for apart­ments in th­ese town­ships.

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