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A New Twist to Measuring Real Estate

A New Twist to Measuring Real Estate
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When it comes to real estate prices some areas such as Yerwada beat other locations such as Boat club road. These places have also succeeded in gaining high points in the National Housing Bank index which is a governmental institution designed to regulate the real estate sector.  Presently only residential index by the name of residex is being worked at however in future commercial property index is also being planned.

Residex takes in account the property costs of different cities through agents to assess the housing prices along with consulting with banks and financial institution to assess loans taken by related institutions. Besides housing pricing and loans residex also considers property tax zones and employment generation capability of a particular area. The city is spread in five zones for NHB and the areas with the maximum points indicate more worth as compared to a low scoring area.

According to the vice president of (CREDAI) a real estate developer association, other key elements that increase the worth of an area are the auxiliary development such as shopping malls, parks, hotels. The areas that have gained large points in a very small time contain all these facilities that encourage buyers to invest in those areas. Additionally schools, roads and other better living conditions also play a vital part in increasing worth.

The area of Kharadi for instance was not so popular a few years ago but with the opening of the IT park and availability of necessary infrastructure these areas have experienced a boom in the real estate sector.

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About James Pattric

James writes for the Residential category (along with Josh Johnson) and also heads up the Resources category.

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