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Factors That Affect The Value of A Property

September 5, 2019 by balajisymphony  

Property in Navi Mumbai

Any type of property be it residential apartments, villas, row houses, luxury, and super luxury apartments, plotted development and aspirational homes are worth if available with all world class amenities. Property location, nearby areas, transit to offices, schools, hospitals and other popular areas are key factors that defines the value of the property. Here we listed some factors.

LOCATION:

Location is one of the major factor affecting the value of a property. The land properties located near the market areas, recreational centres and other well-developed areas holds a higher value than the other residential areas. That’s why freehold plots or construction areas are more on demand than the leasehold lands. The area which are away from the heart of the city are relatively cheaper than the town side areas. Builders in Navi Mumbai help the buyers to get the full furnished 2 and 3 BHK flats in the well-developed localities of the city.

AMENITIES:

Apart from the location, valuation of a property largely depends on the availability of the necessities and other basic facilities. The proper supply of electricity and water services is necessary to provide comfort housing. Parking facilities, proper disposal of sewage, attached toilet rooms, availability of balcony and storerooms are the factors that people keep in mind before buying any real estate property.

Other common amenities of the society includes advanced security services, gym area, garden area, children’s park, meeting halls, sports room, swimming pools, general stores and other landscapes around the buildings. With the availability of best amenities, the standard of living as well as the price of the residential area increases. Builders in Panvel focuses highly on providing the best amenities to their customers.

INFRASTRUCTURE:

Infrastructure of the locality also influences the value of real estate property. Nobody likes to live in isolation well developed roads, flyovers and the availability of various modes of transportation enhances the demand of the concerned real estate property in Navi Mumbai. Facility of medical services, educational institutes and a source of entertainment like cinema hall, gaming zones near the apartment area influence the rate of a real estate property project in Navi Mumbai.

COMMERCIAL REAL ESTATE:

Commercially developed areas highly affect the value of a property. The presence of IT offices, software companies, cyberspace, shopping malls, branded showrooms, and other economic zones influence the demand and the pricing of the apartment areas. Many 3-BHK flats are available for sale in Panvel near the well-developed commercial areas.

DEMAND AND SUPPLY:

Demand and supply have an inverse relation i.e. higher the demand of the houses, lesser is the supply and vice versa. The inter relationship between these two factors greatly influence the price of the Property in Navi Mumbai.

SPECIFICATIONS:

The specifications include the materials used in constructing the building, the design of the layout of the wall, the quality of the tiles or marvel used in the floor of the apartment, the size of the bedroom, height of the building and all other physical attributes affects the value of the property available for sale in Navi Mumbai.