Infrastructure plays an important role in our country's economy and it is known for property value for any specific region.
If transport of road, rail or air connectivity for that specific location is poor or not available properly then it results in a low budget for that property. It is not dependent on connectivity itself but also other kinds of civic amenities.
Mostly in real estate it depends on the demand for location and distance from areas provides jobs and other basic amenities. 3BRICK.com (real-estate website and android app, where end users can search for property and submit their own offer price against the builders quote).
In Mumbai major housing and commercial hubs have developed in the modern Region and National Capital Region and they follow good connectivity options of areas on the suburbs of Mumbai and Delhi.
Infrastructure is not only providing transportation networks but also includes some civic amenities such as:
Sewage treatment facilities.
The Central government is committed to better development of infrastructure with good effect on the total value of properties. It is also targeted for creating job opportunities through industrialisation to boost real estate in future.
The Pradhan Mantri Gram Sadak Yojana (PMGSY) aims to give an example to provide better road connectivity in rural areas. In sequence to increase industrialisation through the ‘Make in India’ policy in action the Central government has started to work on establishing two defence industrial corridors, in Uttar Pradesh and Tamil Nadu. The Delhi-Mumbai Industrial Corridor project that is under-construction is a planned industrial development project which will further connect many several cities of the country with the financial capital Mumbai and the national capital Delhi. The target of the Bharatmala project is to construct various greenfield highways across the country at cost of more than Rs 4 lakh crore. The aim of the Sagarmala project is to connect different ports of India with a minimum of 7,500-km-long coastline, as a result to provide improvement to the logistics sector. Likewise, the target of the UDAN scheme of the government of India is to provide low-priced and economical air travel options to citizens.
Connectivity projects not only aim to improve the ongoing prices of properties but will check previous undiscovered real estate markets. The government provides good road connectivity that is from Gurgaon or Noida which allows citizens to take use of world-class medical facilities in the national capital of Delhi.
Even so, the Central government has developed and increased civic amenities for unreachable parts of the country. To provide electricity connections, Saubhagya Scheme targets more than 25 million households across the country and AMRUT scheme aims to provide water connections and sewage facility to all households.
On the other hand, under the smart city mission it has identified 100 cities across the country by central government for better infrastructure development. This mission is known as Urban renewal programme under which actual cities will change with state of the art physical infrastructure including such as mentioned below:
Potable water supply systems
Sewage treatment plants
Electricity supply systems.
Additionally, with the help of IT-enabled solutions normal governance services will be provided to citizens. The areas which are not in use will also be identified for infrastructure development under the mission.
In the year of 2019, it was later announced by the Central government a National Infrastructure Pipeline has to begin beyond the country with generated funds from the Central and state governments as well as the private sector. The National Infrastructure Pipeline project also envisages development later in the fields of logistics, air connectivity, education, digital services, farm incomes and health services.
Furthermore, it is essential for commercial and retail hubs to appreciate the prices of residential properties and vice-versa. Property buyers are usually attracted if there is any nearby availability of convenience including shopping malls, supermarkets, banks, food and entertainment zones, leisure facilities and so on. On the other side of commercial players and retailers are getting attracted to populated housing hubs is also true.