Chapter 4: Possibility of Future Developments

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.