Sukanta knocked on his door with a paper packet of hot singara in hand.
It was about 7 o’clock.
Chaitali should be home by now.
Sukanta waited for the door to open.
He waited for a minute.
For 2 minutes.
He knocked again.
3 minutes passed.
He was worried, “What is wrong? Is she sleeping, or in the washroom?”
Sukanta was thinking of calling her on the mobile when the door suddenly opened.
What he saw shocked him.
A Tiring Day for Chaitali
Before we tell you what Sukanta saw, let us tell you a little about the couple.
Sukanta is a bank officer, and Chaitali is a professor in a Kolkata college. They live in a cosy apartment in Kestopur, near VIP Road, as tenants.
Usually, Chaitali travels to her college by bus/cab.
The hot and humid atmosphere inside Kolkata buses/cabs makes her quite tired even before she starts her day in college.
Traffic jams are also common while coming back home. Slow-moving traffic on VIP Road gets on her nerves.
On that fateful day, there was a procession on VIP Road that created a massive traffic snarl.
So, Chaitali reached home quite late, even if she started early to go home.
When she opened the door after repeated knocks on the door, she was an exhausted figure with disheveled hair, sweat-soaked attire, and drooping eyelids.
We Need a Better Lifestyle
“What happened?” Sukanta was concerned and curious.
“Oh, the usual. Long traffic jam on VIP Road,” replied Chaitali.
Sukanta went in and sat down on the living room sofa. Chaitali went into the kitchen to make some tea.
While munching on the singaras and sipping tea, Sukanta asked himself a question.
He asked Chaitali that question, “How can we live more comfortably? What is the solution?”
Chaitali had a convincing answer.
We will know what she said in a moment, but before that, let us understand how infrastructure development affects the real estate sector.
Real Estate and Infrastructure
The facilities and mechanisms necessary for a society to function are referred to as infrastructure. Infrastructure in real estate can be divided into physical and social infrastructure.
Roads, flyovers, highways, airports, train stations, public transportation, and utilities are all considered physical infrastructure.
Social infrastructure includes shopping centres/markets, entertainment centres, banks, parks, schools, and medical facilities.
However, there are 5 crucial factors in choosing a home.
The fifth factor is absolutely vital for property investors.
Keep reading.
Infrastructure Development and Its Impact on the Property Market
In a moment, we will discover how the infrastructure in an area affects homebuyers’ choices.
Superior connectivity
Improving connectivity will have a direct effect on a place. The commute time and distance between the two regions will be shortened by an expressway or a Metro line. This will also help lessen traffic congestion on the roads.
Because of greater demand, properties near the well-connected areas typically command higher prices.
In a similar vein, these properties have high rental prices. This is the reason why many people choose to invest in places with strong infrastructure.
Strong urban development
A city or region’s overall growth is influenced by the expansion of its infrastructure.
New projects are made possible by improved roads, Metro connectivity, and utilities.
This, in turn, catalyzes urban expansion, and the real estate market also expands simultaneously.
For example, better road and Metro connectivity have helped develop areas such as Garia, New Town, and Joka.
These areas were considered suburbs a few years ago, but are the most sought-after locations at this time.
Hence, property prices are seeing an uptick in these areas.
Change in livability index
Physical and social infrastructure development usually happens together.
These advancements dramatically improve the livability quotient of an area.
The demand for housing, both for purchase and rental, rises as more and more people move to these areas for enhanced quality of life.
Slowly, a traditional residential area transforms into an up-and-coming area with a younger set of people coming to live there.
Developers take advantage of this demand and promote new projects that meet the expectations of homebuyers.
Sukanta and Chaitali were looking for an area where the livability index was high.
Better Business Environment
Building infrastructure supports the expansion of regional economic activity.
This covers the establishment of business centers and retail stores, IT Parks, and commercial hubs. This is a process that is happening in Kolkata currently with the establishment of several industrial growth initiatives.
As a result, as businesses seek to establish operations, the surrounding areas see a notable increase in commercial or office space.
This offers lucrative opportunities for investors to invest in commercial properties.
Increased Return on Investment
As we have seen, property values are impacted by an area’s increased connectivity and infrastructural development.
The demand for real estate usually rises steadily as infrastructure projects continue to be developed. Property values rise as a result.
This offers fantastic opportunities for individuals looking to invest in real estate because they can anticipate significant profits.
Due to the probable steady demand, homeowners can rent out their houses and make a respectable rental income.
Various locations in Kolkata will benefit from better infrastructure soon.
Speak to us to identify lucrative properties in these areas.
What Chaitali Said
Chaitali spoke about the need to move to upcoming areas for a better quality of life. Areas with a higher livability index and better connectivity.
She and Sukanta then decided to buy their first home near Garia/Southern Bypass.
She was elated at the prospect of zero-traffic-jam travel to and from her college by Metro in air-conditioned comfort.
What is the most important factor for you to select your dream home?
