KERALA LAND BUYER'S COMPANION HANDBOOK
Architect Shahdad Karim
PART I: Getting to Know the Property
Chapter 4: Possibility of
Future Developments
Consider the possibility
of future development or infrastructure projects in the area.
As a property buyer in Kerala, it is
important to not only consider the present but also anticipate the future. One
major aspect to consider is the possibility of future development or
infrastructure projects in the area where you plan to buy your home.
Development and infrastructure
projects can have a significant impact on the value of your property, the
quality of life in the area, and the overall growth of the community.
Therefore, it is important to keep an eye out for any signs of future
development or infrastructure projects that may affect your investment.
Here are some things to consider when
looking at the possibility of future development or infrastructure projects in
the area:
1. Look for signs of
development
When scouting for a property, take
note of any signs of development in the area. These may include construction
sites, survey markers, and land clearance for future development. You may also
want to check with the local authorities or real estate agents to get an idea
of any potential projects that are in the works.
2. Check for zoning
changes
Zoning regulations dictate how land
can be used in a particular area. It is important to check if there have been
any recent zoning changes in the area as it may signal upcoming development or
infrastructure projects. For example, a change in zoning from residential to
commercial could indicate that a shopping center or office complex is in the
works.
3. Look at transportation
plans
Transportation infrastructure
projects like road expansions, new highways, and railway lines can have a big
impact on property values and accessibility. Check with local authorities or
transport departments for any upcoming transportation projects in the area.
Additionally, consider the potential impact on traffic and commute times in the
area.
4. Look for nearby vacant
land
If there is vacant land near your
desired property, consider the possibility of future development on that land.
While there may be no concrete plans in place, the potential for future
development can have a significant impact on the value of your property.
5. Check for new
commercial or residential projects
New commercial or residential
projects can also signal future development in the area. Keep an eye out for
new construction or renovation projects in the area, as they may indicate that
the area is growing and attracting new residents and businesses.
6. Look at local economic
indicators
Local economic indicators such as job
growth, population growth, and income levels can also give you an idea of the
potential for future development in the area. If the local economy is booming
and the population is growing, it is likely that there will be increased demand
for housing and commercial spaces, which may result in future development
projects.
By considering the possibility of
future development or infrastructure projects in the area, you can make a more
informed decision about your investment. You may also want to work with a real
estate agent who has knowledge of the local market and can help you identify
potential opportunities for growth and development.
Conclusion
In conclusion, while it is important
to consider the present condition of the area where you plan to buy your home, it
is equally important to anticipate the future. By keeping an eye out for signs
of future development and infrastructure projects, you can make a more informed
decision about your investment and ensure that your home retains its value for
years to come.
