Infrastructural progress – A boon for Indian Real Estate!
With the latest announcement of opening of the “Phase 3 of Mumbai Metro connecting BKC to Aarey” in western suburbs”, there is an evident rush of various theories of changes in real estate dynamics.
Post 2016, the graph of infrastructural development has seen only an upsurge. The identification of infrastructure being one of the major catalysts of positive sentiments is embossed in the strategies devised by Indian government. The rampant developmental approximation of funds and aligned implementation makes the entire theory get its practical proof.
Mumbai, Delhi, and Bengaluru, the three major metro cities have experienced the impact of the steps taken towards developmental strategies.
Mumbai, alone, gained a massive momentum due to two factors –
- It is often referred to as the financial capital of India and is densely filled with many headquarters of companies. This not only stimulates population but also accommodates migration from tier II & III cities. This increases the demand for both outright and rental purchases.
- Infrastructural development has pushed its boundaries creating ease of accessibility and commuting. The basic implication of this is twofold –
- The developers/builders’ interest in developmental projects increases increasing the supply. They prefer locations that have a lucrative scope of infrastructural development.
- The demand in such locations is rampant owing to the ease of lifestyle. Any buyer prefers such location since the appreciation value is higher in case one is looking at an investment plan, and end-use ease and convenience is definitely a trigger.
With multiple projects coming up in Mumbai region, like, the stated operationalizing of metro line that connects the commercial hub with the residential hub of western suburbs, the Marina project, etc. are going to drive the demand-supply and resulting growth in the economy.
