Why purchasing a property in city outskirts could be a decent option?

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Property prices are sky-high in the main cities, due to which homebuyers prefer properties in city outskirts. Real Estate firms and developers often advice investing in such properties. Anuj Puri, Chairman – Anarock Property Consultants says, “With work-from-home a viable option even after the lockdown, many future homebuyers will shift to the peripheral areas for bigger homes and a better lifestyle – at more affordable prices.”

There are many townships that are potentially cheap than the properties located in the main cities and along with that offer many other benefits as well. Akash Pharande, Managing Director – Pharande Spaces, says, “The latest townships are scientifically planned and offer more open green spaces – also known as ‘lung spaces’ in urban planning verbiage. Internal roads are planned in a manner that prevents traffic congestion. Also, integrated townships have everything from shops and restaurants to hospitals and even office buildings.”

Benefits of purchasing a property in city outskirts

Easy on the Wallet: Generally properties located in city outskirts are less costly as compared to those located in the main cities. “Apart from changing real estate consumer preferences in a strengthening WFH environment, affordability is an enduring concern especially to the backdrop of a faltering economy and job loss/uncertainty. The peripheral areas are more affordable both from a rental and purchase perspective,” says Puri

Air quality: Air pollution due to unfettered urbanization is also prompting people to choose emergent areas close to the city to live. “Demand for second homes in the less polluted areas is also growing, since city-dwellers want to have at least an occasional respite from the pollution of the inner city,” tells Pharande.

Amenities: The COVID-19 era presents a radically transformed real estate market, with preferences changing to accommodate new market realities. Properties located nearby main cities have mostly all the amenities as in the suburbs, there are huge townships which has amenities like schools, hospital, shopping, etc inside the complex itself. How great is that you don’t need to travel in congested traffic lanes.

Outdoor Activities: Cities are often congested and do not give enough outdoor spaces for children and senior citizens. While living in peripheral areas, one can see a lot of parks and community centres close to their spaces.