The basic mantra of real estate is- Location. Location. Location! It is pretty evident that location holds the greatest importance in a city’s real estate. Localities having well developed transportation systems attract higher demand for property. A better road infrastructure and accessibility to public transport system positively affects the property demand and supply in an area.
Here are some of the reasons why locations plays such an important role in a locality’s real estate:
Reduction in Commuting Time- Transportation expenses have a direct impact on a person’s monthly income. An average employee spends about 15% of his income on commuting expenses. A closer work location and better connectivity will reduce a person’s travelling expenses and vice-versa. A reduction in travel time allows the people to spend more time with their family. [Read more…]