Purchasing properties near expressway or highway have their own pros and cons. Investing in such properties is totally dependent on the preferences of individuals. Nonetheless investors need to pay heed to the important specifics before planning to invest hard-earned money in buying such properties.
Many Builders are at great pains to point out that their projects are close to a major highway or expressway while marketing them. Obviously, there is a lot of national value attached to homes which enjoy such a locational advantage. However, there can be both advantages and disadvantages to buying a home which adjoins or is close to a highway. Both should be considered before investing in a property.
Seamless Connectivity- With the highways having at least 6 or 8 lanes, they offer seamless commute to the city-center and far flung places, which make them lucrative. Additionally, a sound network of social infrastructure is being planned and developed by various state and central government authorities along major highways across the nation, which eventually would improve the overall living experience of the emerging micro-markets in the near future.
Lower Land Cost- Due to abundant availability of land along such highways, the cost of land is comparatively lower than the city’s prime areas and hence, this translates into lower property prices for the buyers. Today, most of the big cities are developing on this model due to land scarcity in Central Business Districts (CBDs).
Township Advantage- The highways usually have integrated township projects where you get everything under one roof. Such houses are available at affordable prices at the moment and the locations are already attracting a lot of investors for commercial properties as well.
As opposed to such smaller projects, integrated townships offer a vastly superior investment and lifestyle proposition. Because of their massive land requirements, integrated townships will invariably be developed on the outskirts of the city. Developers will obviously seek to juxtapose their township project along one of the key highways or expressways in these locations, as this will draw a lot more end-user and investor interest. However, the very nature of an integrated township is that it provides several key advantages to its residents.
Finally, only well-capitalized and highly reputed developers can venture into township development, and such players will at all times ensure that all the legalities and the overall quality of the project are beyond reproach.
Naturally, the premium attached to properties in an integrated township close to an expressway or highway is higher. However, the additional investment is definitely worth it. Apart from the ease and quality of life, they also enjoy a much higher resale value on the property market.