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HT Estates - - HTESTATES - MU­NIC­I­PAL PROJECTS PROJECTS IN GRAM PAN­CHAYAT AR­EAS

at­tracted by two as­pects - the lower cost of land, which they or the orig­i­nal land own­ers gen­er­ally get con­verted from agri­cul­tural to non-agri­cul­tural us­age, and the growth prospects of such ar­eas, which can be quite con­sid­er­able.

Be­cause of the lower land costs, the prop­erty prices also tend to be lower. This at­tracts many buy­ers who have bud­get con­straints and do not mind the in­her­ent draw­backs which projects in gram pan­chayat ar­eas of­ten have. To be­gin with, th­ese ar­eas are not con­nected to the mu­nic­i­pal wa­ter sup­ply - in most cases, de­vel­op­ers will make their own ar­range­ments via tankers or bore wells. Though th­ese pro­vi­sions may suf­fice for a while, es­pe­cially in the case of smaller projects, they are much less re­li­able.

Pro­vi­sion of in­fra­struc­ture such as roads is also vested solely in the gram pan­chayat au­thor­i­ties, so it tends to be of a much lower qual­ity than in mu­nic­i­pal ar­eas. The pop­u­la­tion in such ar­eas tends to lean heav­ily to­wards the orig­i­nal in­hab­i­tants, which means that the cos­mopoli­tan flavour is usu­ally miss­ing. Shop­ping out­lets, health­care and schools may be of a vis­i­bly lower grade – though this is not al­ways the case. Much de­pends on how a par­tic­u­lar gram pan- Projects within the mu­nic­i­pal­ity lim­its tend to en­joy bet­ter in­fra­struc­ture

The down­side is that prop­er­ties in such ar­eas tend to cost quite a bit more Prop­erty tax and main­te­nance charges are in­vari­ably also higher than in gram pan­chayat ar­eas

chayat is jux­ta­posed with bet­ter- es­tab­lished and there­fore more up­grade lo­cal­i­ties in the mu­nic­i­pal lim­its.

To sum up...

For in­vestors and end- users, prop­er­ties fall­ing in gram pan­chay­ats can be a very lu­cra­tive op­por­tu­nity. The ini­tial in­vest­ment is in­vari­ably lower, the growth po­ten­tial can be quite high if the lo­cal­ity is slated to be in­cluded within the mu­nic­i­pal lim­its in fu­ture. When that hap­pens, the qual­ity of ser­vices De­vel­op­ment in th­ese ar­eas is largely op­por­tunis­tic De­vel­op­ers are at­tracted by the lower cost of land and the growth po­ten­tial

The ini­tial in­vest­ment is lower but the growth prospects can be high if the lo­cal­ity is to be in­cluded within mu­nic­i­pal lim­its

will star im­prov­ing rapidly and the prop­erty prices will surge steeply up­wards. How­ever, this is prob­a­bly not a route that end users in­tent on se­cur­ing the high­est grade of com­forts im­me­di­ately should take. In­vest­ing in a home within a city’s mu­nic­i­pal lim­its usu­ally costs more, but it will usu­ally be prefer­able for those who are look­ing for a ‘what you see is what you get’ deal.

FILE PHO­TOS

When com­pared to gram pan­chay­ats, in­vest­ing in a prop­erty lo­cated in a mu­nic­i­pal­ity area is ex­pen­sive due to bet­ter ameni­ties (above) and main­te­nance charges

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