1. Homebuyers can go for village areas instead of cities, says report

Homebuyers can go for village areas instead of cities, says report

The survey said investing or buying a property in gram panchayat attract buyers who have budget constraints as cost of property within municipal limit are high because of their better infrastructure facilities.

By: | New Delhi | Updated: June 14, 2016 6:13 PM
The survey said investing or buying a property in gram panchayat attract buyers who have budget constraints as cost of property within municipal limit are high because of their better infrastructure facilities. (Thinkstock) The survey said investing or buying a property in gram panchayat attract buyers who have budget constraints as cost of property within municipal limit are high because of their better infrastructure facilities. (Thinkstock)

Is is wise to buy a property within the city’s municipal limits or go for a house in gram panchayats (village areas)? A report by property consultant JLL concluded that properties falling in gram panchayats score over property within municipal limits and are a lucrative investment opportunity.

The survey said investing or buying a property in gram panchayat attract buyers who have budget constraints as cost of property within municipal limit are high because of their better infrastructure facilities.

“The initial investment in properties in gram panchayats is invariably lower, the growth potential can be quite high if the locality is slated to be included within the municipal limits in the foreseeable future. When that happens, the quality of services will star improving rapidly and the property prices will surge steeply upwards, ”  Ashwinder Raj Singh, CEO – residential services, JLL India said.

The gram panchayat areas are driven by two aspects – mainly lower cost of land and growth aspects of these areas, which make them a long-term investing option to consider.

Gram panchayats are basically village areas where development is largely opportunistic.

  1. M
    Mohamed
    Jun 14, 2016 at 12:58 pm
    by doing that, real estate prices in rural areas also go high and out of control and unaffordable. If agricultural land in gram panchayats is actuall converted to residential, then what will people do for food?
    Reply
    1. R
      Rameswar Pattanayak
      Jun 14, 2016 at 1:40 pm
      There is a huge potion who cannot afford to buy/build home or visualises non use of their house built/bought by next generation. Such people are in look for a house on rent. If house can be made available on rent for life time, it will be a boon for these people who forms not less than 50%.
      Reply

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