Despite the fact that buying real estate is perhaps the costliest venture of your life, we tend to deviate from its most important aspect, that is, location. While going to a new vacation spot for a few days, we turn pages on the entire World Wide Web to find one perfect spot. We research about the places, ask our friends and relatives, take expert opinions and then decide the perfect spot. On the other hand, it is ironic that we just take one or two opinions for finalizing the location of your dream home. It is silly of us that we want to make the most of a few thousand bucks but don’t pay much attention to the transaction that costs lakhs or sometimes crores of rupees. This is where location intelligence comes into play.
Throughout the country, location is a major driver of real estate demand. However, when a locality is in the development stage, people start seeing the value appreciation prospects of the locality. What we don’t see is the reality that might be in the future. A neighbourhood might be good from appreciation point of view but that might be after one or two decades. You would not be able to get immediate benefits. While living in such a neighbourhood, in the initial stages you might feel like living in a far-off area with no facilities as the civic infrastructure takes time to develop. [Read more…]