These 3 Factors Will Decide Where Realty Shines In Future

Money would not the prime criterion when Indians buy homes in the times to come. As Indians get wealthier – a report by Credit Suisse says India will see an increase of 42 per cent in its wealth over the current level by 2022 –affordability will not be the only factor that would dominate buyers' purchase decisions. Certain other aspects that mattered less before will now come to the forefront. What are these factors?

Is it clean enough?

In the past months, national capital Delhi remained in the news because of the alarming air pollution levels that forced the city to stay indoors. Despite the imposition of several “hasty” and “harsh” measures, no respite was visible. To the common man, matters related to environment protection seem like something that must be handled by authorities. However, the toxic smog that forced the citizens to stay indoors did have a deep impact on their psyche. It is not only champions of the environment or the celebrities who are making plans to move out of the city because of its high pollution level, others are also having similar, serious thoughts. Those buying homes in other big cities will also factor in the pollution level when they decide to settle in a place.

Is it green enough?

This concern is co-related with the first concern. Recently, a Delhi resident filed a petition in the National Green Tribunal, saying over a thousand trees have been chopped in Sector 25 for building an exhibition-cum-convention centre. The appellant asked for a complete review of the project, saying trees should be preserved as they act as natural air filters, especially at a time when pollution levels in the city have touched severe levels.  The instance shows general awareness about environment protection is growing in big cities. Going green no more only a slogan used by people to look aware and concerned.

Is it safe enough?

Recently released data by the National Crime Records Bureau show rate of crime was the highest in Delhi in 2016 among 19 cities of the country. The national capital also topped the list on rape, murder, kidnapping and abduction, juvenile conflicts and economic offences. The growing rate of crime will certainly do a great deal of damage to Delhi as a real estate destination. With the knowledge that a city has the dubious distinction of top crime charts, not many will be inspired to invest, even if they have the means to do so. As awareness around cities' safety concerns speared, buyers will give preference to places that are comparatively safer. In one city, a safer but pricey locality will fare better than an unsafe but affordable locality.