The world governments are taking all the necessary steps they can to make sure that future generations can live a healthy life while enjoying the fruits of both technological and architectural development. India too is taking the baby steps with full support from the Indian government and creative ideas from contemporary entrepreneurs.
The process is already underway and the most exciting part is the rate of growth the country is expecting which is estimated to be at around 6 percent making the same the fastest growing component in the national infrastructure sector.
How does it all affect the real estate market of India?
When India will start working with full force towards developing its transportation system, it will attract investors from far and wide who will invest their money in further developing the infrastructure of the cities thus improving their liveability factor.
One can take a look at developing a shared transit system for any city and label the same as either a micro or macro development. That being said, it should be kept in mind, when executed in the correct fashion, a shared transit infrastructure will work towards making cities pollution free, less congested, safe, peaceful thereby increasing the value of its real estate sector as well.
For more insights and to make the information shared here credible, you can also check out SmartOwner`s recent blog post that sheds light on how metro services in Indian cities are on the rise leading to exponential growth of the Indian real estate sector. That being said, it will have the following effects on the Indian real estate market:
Efficient expenditure of infrastructure development and management fund
Cities have a lot of fringe areas that need to be connected to its main part via roads and transport services. It is one of the many ways a city can grow all the while providing all the creature comforts its inhabitants needs to lead a certain standard of life. When the authorities focus on developing the transport system of the city, they can rest assured that the remaining development funds will be utilized in a textbook way.
Stability in property prices and overall growth of the real estate sector
A shared transit system makes sure that the urban lands are put to their best use. It will further lead to high FSI rates, the rapid development of the real estate sector, increase in footfalls to the fringe areas thereby increasing the property rates all the while maintaining the market conditions stable and favorable for both investors and developers alike.
An increase in the availability of housing facilities for all sections of the society
A shared transit system helps a city to concentrate on developing housing facilities all the while providing the necessary caps to developers and investors alike during construction of housing projects.
Statistics have proven time and again that a nation can benefit a lot if it works towards making electric mobility and shared transit its staple transportation solution. India can shed its developing skin and turn a new leaf by becoming a developed nation only when it has revamped its transportation networks.