What are the factors that determine the property rates?
Everyone yearns to buy a property- be it for their use or investment purpose. There is so much construction happening everywhere and we notice that some places are in our budget and some look far beyond our budget. Ever thought what the reason is and what are the factors that determine the property rates?
Here are the 5 main factors that determine the property rates in any area-
Location – The prime consideration for rates of the property is location. The worth of the land is determined by its locality and surroundings. A project that is constructed right in the middle of the city with all markets and the bus/train station or the airport at a feasible distance, will definitely be costlier than any other project located at some distant location in the city.
Good infrastructure and better connectivity- The connectivity to the nearest market, mall, schools, airport, bus stations, railway stations is an important factor that determines the property rates of any residential property. The area that is well developed and well connected to the city is costly.
Area Size- The square feet area of the house will determine the property price. The bigger the property, the higher the rates. The developers come up with various carpet area size options so the customers can choose the area and thus get the home fit into their budget.
Building construction- The quality of construction material and raw material used in the construction of the project is a major factor in deciding its price. The frame structure, internal and external wall construction, tiles used in construction, material of the doors, type of paint being used are some of the determinant that vary the raw material cost in any project.
Amenities – The number of amenities in the project also determine the property price. If any project has amenities like club house, gymnasium, swimming pool etc., the price of the property goes higher. The building and the maintenance cost are all included in the property price.
Before you buy a property, make sure you have analyzed all the factors well so that you make the rightoice. Buy a property with Namrata Group and be assured of getting the best homes at the best property rates. Look for the best property options here–> http://namratagroup.com/project.