Whether you are looking to
buy or sell your house, or are simply a real estate enthusiast, while going
through the descriptions of new project launches on various online portals or company
brochure, you will encounter one amenity – Rainwater harvesting.
The mechanism of a rainwater
harvesting plant is not very complex. The idea behind it is to save water and
utilize it properly for the future (even present at times). This simple set-up
was never given much importance or a special place in the real estate projects.
But, with time, especially now it is considered mandatory to have a plant in the
project, irrespective of whether you are living in an apartment or independent
house.
Let us look more into this
occurrence.
With the new launches
increasing manifold, your eyes see a house everywhere. The world has become a
brick and mortal jungle today. This rapid rate of real estate developments and overpopulation
has effected the natural resources to the stage of depletion.
While people like us, who
live in metros, are habitual to the pollution, our bodies have modified itself to
live at a particular level of dust and harmful particles. But there is still
one thing that holds the power to misbalance the human ratio and its mere
existence – Water.
Our bodies cannot adjust to
live in its absence.
The impact water has on our
life has moved from the health issues to other crucial things like property
decisions. Yes. What was ignored before is now tackled; today buyers demand to
live in projects with active rainwater harvesting plant. They know the benefits
of this set-up on both environment and their pockets.
Because of this uproar
demand, builders announcing their new projects are taking measures to install
one, and are advertising the same by associating it in the project descriptions.
Also, the presence of rainwater harvesting plants has become part of the
crucial ‘buy a house in the new projects’ decision.
Direct Impact of water depletion on
Indian Real Estate Market...!
Water scarcity harms both
developers and buyers/ investors largely. Various localities in India, like Hyderabad,
Pune, and even IT hubs like Bangalore are staring right into the complex water issues.
Here is the realistic picture
of water impact on Indian real estate market in the last quarter of 2014 –
The narrow roads and scarcity of water supply have
made the homebuyers unsure about investing in Nizampet that otherwise
obtainable affordable property options. The real estate market stayed almost
motionless over the previous six months
– Nizampet, Hyderabad.
Narendrapur’s property market saw a drop of 20 per
cent from the Jul-Sep 2014 time to Oct-Dec 2014 period because of its arsenic
polluted ground water – Narendrapur,
Kolkata.
"Well it is an extremely critical problem ... Unless we address the
water problem - in reality terms we have to evacuate Bengaluru within next ten
years. It is as serious as that in our major cities," Azim Premji, on Bangalore.
Did you notice the focus that
is now given on the effect water issues have on the locality’s capital value? Now
let us see how it changes when it comes to the real estate developers and buyers.
On the Developers:
Developers suffer a lot with
the lack of Water supply. Starting from problems in construction to rise in
unsold property, water holds a strong impact on the builders’ profits.
Also presently
Indian government has laid down stringent rules and resultant penalties in case
of any discrepancies.
What should they do?
If they are launching
projects in areas, which are known to have low water level or frequent related complaints,
they should install a plant before their project starts getting vacant.
Now,
even if they are developing projects in localities with no such issue, they
should set a small plant to manage the ‘if government check happens’ or ‘if water
scarcity in future’ scenarios.
On the buyers...!
Impact of water issues is
most severe on the property buyers. Along with paying hefty amount as water
bills, they face unsatisfactory returns on their investments anda very low
resale value.All this is in addition to
the health maintenance costs.
What should they do?
The buyers should only invest
in the projects that have an active rainwater harvesting plant. In case they
are living in a society that does not have this system, monetary contributions
should be made to get the machine installed.In short they should avoid
investing in a property that has no scope of installation of rainwater
harvesting plant.
Now you need to add another
pointer in your checklist, whether you plan to buy
a house in India or sell your house, make sure the rainwater harvesting
plant is functioning.
It is time that rainwater harvesting is made a must-have
amenity by default. Managing water may ask for a large initial investment, but
the return is unquestionably huge, with the recovery time only a summer’s away.
No comments:
Post a Comment