5 factors influencing your real estate properties in Gurugram

A real estate property can yield huge capital gains given a perfect set of conditions. Generally, people buying properties are more focused on specific features of residential properties, such as structure, exterior and interior designs rather than paying attention to the factors that impact the value of the property.

Before browsing a new residential project in Gurugram for an affordable price of real estate property, it important to know about the real estate. The value of every unused piece of land will not necessarily go up with time. The market value of certain areas might remain unchanged or even go down with time. It is good to know the factors that can enable you to make the right decision and avoid fruitless investments.

Here are some drivers of the real estate property value:

Location: While buying a new residential project in Gurugram, it’s important to check whether the targeted property you’re planning to buy is located in a developed, developing, or at a location that is going to develop or transform in future. Also, you would have to see if your property is located in a peaceful location or on a highway. If your property is located close to any expressway, you can turn it to your advantage and market value is decided accordingly. Closeness to medical facilities, shops, work locations, and schools should be the other determining factors for families while buying a property. A broad array of good transport facilities and local amenities in the vicinity would certainly enhance the price of your potential property.

Floor: You may get more or less value, depending on the area of your new residential property in Gurugram. Flats on higher floors always cost more when compared to the ones on the lower floor. If your flat is built on a higher floor, you can always capitalize on factors such as sunlight, view, and fresh air.

Geographical stability: It is interdependent on locations. Locations that are susceptible to the effects of natural calamities, such as flooding, earthquakes, tsunamis, and volcanic activities are not considered good decisions when buying real estate property as your family’s safety comes first than any other factor.

Age and condition: The value of a property might not necessarily go up with time. However, the state in which your property is could make a huge difference to the value of the property. The property in excellent condition can get a good valuation on par with a new build of equivalent specifications. 

Security: People always prefer secured places while buying homes as security is the fundamental need. That’s why locations that are safe are more valuable. Also, apartments with facilities like security guards, CCTV cameras, gated societies add to the value of your property.

Apart from the above, the implementation of an affordable housing scheme in Gurgaon can too pave the way for a potential hike in price.