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What Are The Advantages of Buying a Property Near Airport?

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What Are The Advantages of Buying a Property Near Airport?

Last updated: September 21 2012
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  • What Are The Advantages of Buying a Property Near Airport?

    Hi

    Trying to understand. I see a mad rush of people trying to buy house/land near airport. Devanahalli in Bangalore is a classic example and now we see a similar situation in Sri Perumbudur. Why would people want to live near airport unless they are frequent flyers. Another reason could be that the comapnies want to be located closer to airport for easier transport for their clients. But would that be a major factor for comapanies to chose their location near airport. Or may be i am missing something. For the benefit of the people, can someone provide the reasoning for people buying land/house near airport?

    Cheers
  • #2

    #2

    Re : What Are The Advantages of Buying a Property Near Airport?

    It's something even I find bizarre, Price trends vary in every region- in developed RE markets prices will be lower as you move towards Airport, high streets and other areas where pollution (Noise, Air and Water) level are high.

    Probably due to limited public transport infra- closer is better attitude prevails in Indian cities.
    Last edited September 19 2012, 08:37 PM. Reason: typo

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    • #3

      #3

      Re : What Are The Advantages of Buying a Property Near Airport?

      Agree with you guys on this.

      Important issue is that the work has not started on the new airport. Contracts is not awarded yet. They got land, that's it. I do not think we will see a significant movement in the new airport development for another 5 years at least.

      The big problem with Chennai is we do know that the existing airport will be in operation. All indications are that they will move Cargo section for sure to the new one in the future. There might be some low cost airlines moving there too. If they award the contract to GMR, GVK, etc to prviate players, then they will increase the landing charges. They cannot compete with the low AAI charges anyday. I doubt if they will ever pick up the contract unless the Govt gives assurances that they will get some traffic. BLR airport and Hyd airport, are in losses. Delhi is just breaking even.


      But things apart, for me the Banaglaore expressway seems to have more potential than the airport one.

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      • #4

        #4

        Re : What Are The Advantages of Buying a Property Near Airport?

        get Land in cheaper prices and hand over to some BIG HOTEL BRANDS near to aiport for good resale amount..

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        • #5

          #5

          Re : What Are The Advantages of Buying a Property Near Airport?

          There's complete lack of awareness on health related hazards, when people want to live in high pollution zone. Heathrow's landing time is 5 AM to 10 PM; still people protest vehemently- search for 'Heathrow third runway' protests.

          I do agree on new airport- it's good 5-8 years away (minimum) and i don't foresee any of the existing operators like GVK, GMR, L&T can afford to build/operate another airport. May be some group's JV with foreign partners.

          As discussed to death in past- RE investments are speculative in nature with no strong fundamentals; so there's always gold rush when any major infra projects are announced.

          Even Chn-Blr expressway - If you look at historical data-Access controlled Expressway will never assist appreciation of nearby localities?

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          • #6

            #6

            Re : What Are The Advantages of Buying a Property Near Airport?

            Chennai bypass was implemented as access controlled highway with very limited entry-exit ramps, now they have added many more due to popular demand. They'll keep doing so and soon it will become a regular arterial road in Chennai. Same thing will eventually happen to ORR.

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            • #7

              #7

              Re : What Are The Advantages of Buying a Property Near Airport?

              In past Chennai never had Expressway in true sense , like the one proposed by Japanese consortium. We don't see many townships in Mum-Pune Expressway as well. I can be wrong, but it will be let down if they don't deliver what they promise.

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              • #8

                #8

                Re : What Are The Advantages of Buying a Property Near Airport?

                Originally posted by Clairvoyant View Post
                Even Chn-Blr expressway - If you look at historical data-Access controlled Expressway will never assist appreciation of nearby localities?
                Great point. It will be tolled for sure. No questions about it.

                I just meant that land prices in west of Chennai is cheap. There could be another mini-bubble like Sriperambadur happening once the details are announced.

                Once the media, hypes up the land acquisition, there will be people running away from it initially but later when the work starts developers will be drumming up it as the next big location.

                I think the expressway is a boon for RE in towns in AP and KA on the way.
                Very less portion lies on TN anyway.

                Eventually we might have an opportunity to get a neatly planned satellite city somewhere on the way. There is more chances that the satellite city could be falling in AP/KA.

                I also feel that the expressway is bigger benefit to BLR than Chennai. So lets see what happens.

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                • #9

                  #9

                  Re : What Are The Advantages of Buying a Property Near Airport?

                  1. I am not sure rather I am confused which side to take...
                  General logic says: RE near a commercially active place like Airport should be a good place for investment..

                  But strangely if anyone had watched "neeya-nanna" RE episode..many brokers and land owners were complaining that land near airport doesnt appreciate...siting different reasons..

                  so this topic is debate-able!!

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                  • #10

                    #10

                    Re : What Are The Advantages of Buying a Property Near Airport?

                    ALso would like to add that I own a property just outside the MIHAN SEZ in Nagpur which is adjacent to BOEING MRO facility and airport in Nagpur...just keeping fingers crossed for pricing..

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