Residential Plots Near PGI Chandigarh | Some Factors that Determine the Prize of Residential Plots

From last one decade, buying plots & flats is the most popular and profitable trend in India.Nowadays, I heard about many people always seem very interested to invest in real estate at the different location. After a time, they resell that property behalf of profit. After GST Real estate went down, but as time is passing, people are now investing in real estate for buying plots. As we know that nothing is permanent, the same factor applies to the real estate. Basically, there are two types of investors, the first one which has their own requirements and another, who have their own interest due to profit after resell. Although, the real estate industry is going up day by day. What is the formula which decides the plot price at any place? There are basically few things that is directly related to falling and down in the price. So, we are going to understand these things.

1-Development at place

A)Industry: Across the world, we can see that all things in a developed city are costly in comparison to developing. It applies same as in real estate industry. As an example, the plots rates in Mumbai are extremely very high in comparison with Residential Plots Near PGI Chandigarh . When we see a city, we found there are also different rates of the plot within the city, this is because each specific area has its own development. Which area has more industrial development, the plots price will be higher. An industrial area having many head offices and product based plants are there, so they increase the overall price of everything.

B)Civic Infrastructure:

Civic Infrastructure: The city which has well managed civil infrastructure found, the most of people want to live there because the basic things to live there are water supply, electricity, drainage system, and streetlights must be there in very right and tight manner. No one wants to live any place where these basic useful things are not available. Other basic things like bank branches, mobile connectivity, transport system, picnic spots are also taking an important role to become a favorite place. These all are related with price of plots directly.

2-Government Policy: 

Plots rates are directly co-related with Government plan and policy. If Government has any future plan for an area, the government may fix the rates to improve the living standard of people at that place. We have seen that when four-lane road or airport, etc is on government plan to build, then nearby place’s plots become costly automatically. Also, Government has right to fix the FAR(Floor Area Ratio) and FAR(Floor Space Index) parameters those directly impact over the plots price. These ratio tells, exactly how much area is available to you for constructing your building. It also makes a decision over setbacks and width of the road to restrict the construction.

3-Historical Value: 

Around any historic place, the people automatically reach for not only for the picnic also many people come for placing shop near the place. That’s why the place value consistently increases the plots rates. I have seen the historical many historical places, and I found that many shops, hotels, parking, and food center are opening up day by day. And these all are making that place costly.

4-Water Level and Ground Stability:

It is hundred percent true that no one can survive without water at any place and one more important thing is that ground stability. In hilly and desert area the human survival is very tough due to storm and land sliding. Another hand, plain area having with good water level and stable ground are best suitable to take home there.

Including all necessary things like pure water, natural atmosphere, proper transportation, medical facilities, and other services, There are Residential plots Near naya gaon & PGI Chandigarh at the foothills of the Shivalik hills, is the best place to build your dream home.