SALE – Kesar Gardens Shops, Kharghar
Kesar Group, one of the most Trusted & Reliable developers in town invites you to purchase shops at Kesar Gardens, Sector 20, Kharghar, Navi Mumbai
- 2 Minutes (50 mtrs) walking Distance from one of the upcoming Metro Railway Stations in Kharghar
- 2 Minutes (50 mtrs) away from Kharghar Central Park – One of the largest parks in Asia.
- 10 Minutes away from Kharghar Railway Station
- Shops of various sizes available – 245 sq ft to 880 sq ft
- Road Facing shops available
- Shops available inside the building compound as well – Great for offices, call centers etc
- Ideal for Restaurants, Banks, Gyms for Purchase of adjacent shops and make use of large area and a great location!
Prakash Natarajan: +91-9820606187
Impact of a Metro System on Real Estate
- Direct economic benefits: Travel Time savings, vehicle cost savings, transit option value, environmental benefits
- increase in property values
- land use changes,
- benefits of improved access to jobs & critical locations, benefits to employment wage & productivity
- Impacts in the following cases: Tyne & Wear Metro, Newcastle, U.K, Manchester Metro link, London Docklands Light Railway, Helsinki Metro, Finland, Vienna S-Bahn, Austria,Nantes, France
- House prices increased 2% within 200 meters of metro stations.
- Retail activity or office developments in proximity to stations does not appear to be directly linked to LRT.
- Development of 20 500 sq.m of offices and services in City centre.
- 50% of capital cost was recaptured through overall office development and job creation.
- In the best locations, dwelling prices raised by 11%.
- Price of property located within walking distance of the nearest railway or metro station increased 7,5% over other locations.
- Impact was most significant at a distance of 500-750 m., as opposed to adjacent locations, where values dropped. (Finland)
- Districts located along S-Bahn corridor have witnessed increases in number of new housing units of 18, 7% over 10 yr. period, as opposed to 4% and 10% in more remote locations.
- Distance from Metro: Hedonic Analysis – The variables which are having a significant impact on land value are-Distance of land from Metro Line, Distance of land from CP, Location of area, Income group.
- Among the variables ‘distance from the metro’ alone explains the 22% of the variation in the land value. Thus, the availability and proximity to metro, plays a major role in determining the impact of Metro on real estate prices.
- Properties within 500m of the metro line have experienced a higher land value change as compared to properties beyond 500m. Land value decreases as one moves away from the metro line.
- Within 500 mtrs of Metro Line, change in land value is higher and is more or less same for both the residential and commercial properties.
- Between 500m 1km change in land value is more for 15 to 1km, commercial properties
- Land use Effect
- The impact of metro on residential land value is less as compared to the commercial properties.
- For Residential area, on an average land value within 500m of metro line increased by11.3%. For Commercial area, on an average land value within 500m of metro line increased by 18.1%.
- Threshold limit for the residential properties is approximately up to 500m from metro line, whereas limit increases up to approximately 800m for commercial properties.
- Increase in land value is highly dependent on the income of the people occupying the area / These are also the areas which are planned
- Number of years of Operation of Metro
- Land Value changes are more consistent and higher after the operation of metro as compared to the construction and planning stage. (land value increases by 2- 4% every year.)
- Impacts on urban structure is significant. Integrated landuse transport planning M t – Metro contribution to land value rise is about 22%. A part value is captured in property taxes. Re-appropriation is difficult as they are 2 different agencies.
- Value capture is possible only if linked to additional FSI/TDR
- To reap benefits of better accessibility, redevelopment schemes for nonplanned/slum areas
- Right time to capture value – First Create Value and then Capture