Defies Faced In the Growth Of Indian Urban Areas

Today, about 30 per cent of populace of India lives in urban areas and by 2030 it is likely that the population may increase to 40 per cent. The cities in the country are lurching under a dire lack of infrastructure with quality in basic standards of living lack of water supply (required 150 liters/day but available is only 105 liters/day), while individually parks and open space required is 9 sq. m but available is 2.7 sq. m.

Overpopulation of urban areas in the country is expected to result in huge strain on infrastructures and unfavorably impact their economic growth. Today, in the country about one-fourth of slums account in the all urban housing, for an instance in Mumbai about 50 per cent of the population lives in slums and many have occupied in the heart of the city near employment centers, which is disparate compared to other cities in the developing countries. If these issues are not taken care at the earliest then the lack of quality housing is expected to mount and will be one of the chief barriers in the progress of the country’s economy in the 21st century.

A study reveals that the current step taking for investment in infrastructure will be unable to manage the urbanization. It is also observed that the annual capital infrastructure spent in India is $17, while it is $116 and $391 in China and United Kingdom respectively. In order to meet the engorging population by 2030, India has to increase annual capital infrastructure investment to $90 billion approximately to avoid any damages in the vigorous economic of urban areas in India.

Thus, to meet the country’s 2030 stance in urban areas economic growth, an appropriate city planning and authority that systematically considers housing, transport, infrastructure, and economic development should be considered.

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Want to Own An Old Home in Cities Centers or A New Home in Suburbs?

At present, the property prices in the prime locations of the cities    are too high, which mid-level people are not able to afford. Hence to meet the demand and to offer homes at affordable prices, real estate builders and developers started building properties in the suburban regions and outskirts of the cities.As these locations have huge availability of land at cheaper price when compared with the prime locations of the cities.

One of the buyers say that he is looking for a 2 BHK house within his budget in a good location that is close to schools, shopping malls, parking place, and playground. But, usually real estate agents advise him either to increase his budget or to go for properties in suburb areas. He also added that he doesn’t have any problem in choosing property in outskirts but he is hesitant because he has not come across many people who invest in properties in suburb locations.

But, how confident are buyers to invest in properties in these locations, here are some comparison of advantages of buying home in cities centers and suburbs that may help one to choose the best place to invest and find the right property. 

Benefits of investing in properties in peripheral areas of the cities

Property cost: Generally, availability of land in outskirts area of the cities    is huge hence the buyer will get more area for less price like one may buy a 3 BHK flat with a garden at reasonable price while for the same price one will get 1 BHK flat in the cities    centers.

Security: Many studies reveal that the suburbs are more secure and safe places to reside compared to key places in the citiesas the population in city is more chances of crime is more. While in suburb localities that are smaller people know each other in their neighborhood and will have vigil on your house and kids when you are away, which is very rare in cities. 

Easy Shopping: Most of the suburban projects have shopping complex within the apartments hence shopping becomes easy. Furthermore, many commercial projects with all facilities like hassle free parking are also being launched in the outskirts.

Open spaces for more activities: The suburbs offer huge open space like parks and community centers for home buyers.

Benefits of investing in properties in city centers

Utilities: The major benefit that one will enjoy in the city centers is the convenience of all the amenities at their doorstep hence have to pay high prices for property.

Customary neighborhoods and services: The cities centers have well-planned facilities and services that includes infrastructures, shopping malls, eateries, educational institutions, hospitals etc.

Accessibility: Many types of public transport to commute to any places where it is not necessary for one to own a vehicle whereas in suburbs it is essential to have a private vehicle.

These are just a few pros and cons of investing in property in cities centers or suburbs; however you have to make your decision of investment on other perspectives as well like return on investment price appreciation and many others.

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