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“Based on who they are and what they want and what they know, everyone is right. Every time.” …
Seth
W. Godin is an American author and a former dot com business executive & a
marketing wizard. Let’s leave the wizard part as in USA they love to hype up
the things by attaching such tags to the names yet what Seth Godin has said
about “Being Right,” does shows his intelligence or let’s say understanding of
the client as well business. And the reason I choose his above words, is the
topic which is actually core of the real estate business & no guess work,
it is location! All over the world & for centuries right from the humans
started becoming social & building settlements as a group, it was always
about the location & even today when it’s buying a home or a commercial
premise, it’s the location which matters most is a fact but! This but, is the
main aspect which most people (read as home buyers & even builders too)
misjudge or misread as the times has changed & so has technology as well
life style. Now, you will say what it has to do with location, the Prabhat Road
remains Prabhat Road & Pune 30 (read as Sadashiv peth) remains Pune 30,
what technology or time has to do with it as if a person wants to buy a home or
shop at above locations, how does any technology or time matters, right?
Indeed, no technology or time can change the location of a property (read as
land) & its geography but then the technology can tell you the means by
which you can compare these locations with other properties at the same time if
at certain time one location was & is important or better, but then for
future it may not be the case as times are changing & so is lifestyles
& needs of the people from their respective home or office or shop &
this is where need of choosing a right location matters!
If
you are confused, take this example of a shop on karve road which is like life-line
of west Pune (I am using Pune as reference as I do business here & other
readers may apply the same analogy to their respective city); just five years
back when Metro wasn’t in the picture, a shop on karve road was supposed to be
hottest location may it be for any purpose & look today, the Metro (with
all due respect to its importance) has divided the Karve road, so one can’t
cross it except at signals & reduced the parking to zero, making business
on karve road to standstill (read as less in compare to earlier days). Outcome
is one of my friends which is a hardcore trader told me the shop prices on
karve road has reduced by nearly fifty percent, though the location remains
same! Take another example of Karve road only but of the flats as in the 1980’s
or 70’s when real estate started in Pune, a home on karve road was most sought
after as there wasn’t much traffic & autorickshaws were available so were
the necessary essential shops & schools but by year 2000, most of the karve
road facing flats were at sale as you can’t breathe here & the sound of
vehicles, thanks to poor public transport of the city, the road is alive with
vehicles movement for nearly 20 hours of the day, which makes living here
impossible! So, the good location for living just three decades back is now bad
location, though the location is same, & the stories are same all-around
Pune this is where one has to decide a right location, is what I meant!
This doesn’t mean karve road is bad & buying property
will only make you loss, no, what it meant is it may not serve you right in
present times & while we choose location or decide on some location then
one must not just go by the glamour factor to pay the premium but study the
location keeping in mind developments around it! Any location
prospers depending up on the social as well physical infrastructure around that
locality & this is not some over nigh game but a decade or more time span
is needed & that’s why a right location needed to be decided depending up
on past & present developments around it & by judging future track of
infrastructure around it. Because if physical infrastructures like roads,
water, drainage, electricity are essential for living then, social
infrastructure such as education, entertainment, transportation facilities, public
health & jobs are important for prosperity of the location & a right
location is balance of both these aspects! Now, here is real cliché because if
you have a location where all these social & physical infrastructures are
available then obviously rates of property at such location will be always
highest & such locations will be always limited in the supply, right? And
where any of these infrastructures are not available then the property rates
will be less yet you will be deprived from the necessities of life, so what you
do?
This
is where importance of identifying right location comes in picture & here,
I will use another example of analogy about location. A city which is as big as
Pune now has many development centres as no more its just all about MG Road
(camp) or Deccan but every suburb is now being developed with its own set of
infrastructure, social as well physical.
So,
one has to understand what kind of lifestyle one wants, which includes family
culture, kids age & their future & your own career ahead & only then
decide your right location! Thankfully with Metro in place (read as in coming
five years) the concept of away & close won’t be there, means, a person can
live in Wakad/Punawale (west part of Pune) & afford to work in Kharadi
(east part of Pune) which wasn’t the case till now! And then all those who are
choosing Pune as their final destination, do mind they are not Punekars, so
they won’t find it necessary to remain near orthodox city centre like MG road
or Deccan. So, if you are buying a home/ office for investment then your far
away may not be far away for your tenant or the next buyer, is one aspect. As
well if you are buying for your next genre then also do think about their
future growth scope potential & then decide. Here, I always will give more
importance to social infrastructure which is usually developed by private
sector than infrastructure by govt as you can get water, roads, drainage,
electricity but a growth is fuelled by people & for that social
infrastructure is more important. This is where Pune scores above its competitors
as it’s the social life this city (read as region) offers are what makes it
special & for that while deciding your right location look at the schools, job
centre, outlets of food & goods, public places, public health facilities in
& around the location, as their clientele as well condition (decor, display)
will tell you story (read as growth potential) of the location & then only finalize
your home!
I repeat, with a country having population of one fifty crore,
land will be always in demand anywhere it may be but some lands will be more in
demand & some will be less, that is what I call choosing a right location
for your purpose of property buying; so, go ahead, open your eyes (and senses)
& define your right location!
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Sanjay Deshpande
Sanjeevani Dev.
Please view my sharing about real estate in
Pune at You Tube link below...
https://www.youtube.com/watch?v=g4xX7eopH5o&t=5s
Please do visit my blog links
below to read about real estate & home buying!
https://visonoflife.blogspot.com/2023/01/defining-good-home-real-estate-in-2023.html
http://jivnachadrushtikon.blogspot.com/2023/02/blog-post.html
Creating Togetherness; team Sanjeevani Way (Click link below)
https://www.flickr.com/photos/65629150@N06/albums/72157627904681345
For any of your complaints about city, log in at link below
www.punecorporation.org
Take your issues to Hon PM at link below...
Think Green, Think Life
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