A Myth burster for Real Estate Buyers - Analytical views over Purchase of a Property with respect to Road Widening Possiblities
The Past Karma in Major Highway widening projects:
Whenever we buy a property abutting a highway or a prime road, there is a fear that if the road widening happens, a portion of our land shall be taken by the government. Though the settlement is provided at the guideline value, we might have bought it at the market value. One more phenomenon is that the settlement funds take a long time to reach the property owner like in terms of 3 to 4 years (In some major highway widening projects, even the process takes even more time). Whereas, if the same land has been in a zone far away from the highway vicinity, then the customer is able to sell it easily. Hence, there are many people affected by this kind of projects(like, losing their lands for a lower value, and in some cases even for nothing). We can say that these are the accumulated past karma between the Real estate people and the Highway people.
A Created Myth:
Whenever a strong Karma (Action) happens, at that point of time, some people see the true light and some people see the same in a haphazard manner. Those who see this past karma in a haphazard manner are the people who create myths in the market. Today we will take a commonly observed myth in the real estate field.
1. "Road widening is going to happen in your area. Your entire property may get affected - Sell your land and run away...!!!"
2. "Road widening shall affect your property in a partial manner - can't you reduce the rate...???"
So I am going to burst these two myths from the point of view of a Highway/Traffic Engineer in this article so that, a buyer can own his property in a bold manner even if some local people create fake news about road widening. At the same time, he can claim a right value for his property by analysing the truth.
Roads other than expressways are termed into four Types.
They are: (i) Arterial (ii) Sub-arterial (iii) Collector Street (iv) Local Street
Arterial: A general name indicating the road primarily for through traffic (long distance travelling vehicles contributing to traffic volume), generally on a continuous road.
(ii) Sub-arterial :
A general Name Indicating the road mainly for through traffic usually on a continuous route but giving a somewhat lower level of traffic mobility than the arterial.
(iii) Collector Street: A road for collecting and distributing the vehicle volume from and to local roads and also for providing access to arterial roads.
(iv) Local Street: A street primarily for access to the residence, business or other abutting property.
So, Now we can see that which of the above three roads have a possibility of widening to the most.
Arterial - yes, it can be widened. But there is a certain time interval for one widening to the second. That means, from two laning to four laning the time period shall be in more number of years, with respect to the traffic growth.
Sub- Arterial: Comparatively less possibility with that of an Arterial road.
Collector street - These roads are of standard sizes, built within the cities. Hence possibilities are less and cannot be done without any proper notice and a valid requirement.
Local Street - as the name itself says that it is a local street, there are no possibilities for a road widening in a local street. If it is happening, there may be some valid requirement.
So, If your property is in a collector street or in a local street - Don't worry if some people create a fake news about road widening. They are proposing to do some initiation for a sale or rate reduction of the property. If you wait, then the myths will get busted in an automatic manner.
I can give you some practical example of roads in and around Chennai for the above classification
Arterial road - NH -32 - Chennai - Theni Highway
Sub-Arterial Road - SH - 58 - Chengalpattu to Kanchipuram
Collector Street - Cathedral Road - Chennai
Local Street - Canal Bank Road
Now - we can analyse
when was NH-32 last widened? When can the next schedule happen for NH-32 to get widened?
When was SH - 58 last widened? When can the next schedule happen for it to get widened?
When was Cathedral Road laid? and can there be any widening possibility to acquire land on both sides?
When can a Canal Bank road get widened?
Please try to find answers with the local bodies by yourself - then you will get a clarity on the actual phenomenon.
Hence, if there is a news of Road widening - then it should be from authorized sources, else don't believe it.
Article dated: 31/07/2018
---An Article by Bharath Dhanasekaran ---
The Past Karma in Major Highway widening projects:
Whenever we buy a property abutting a highway or a prime road, there is a fear that if the road widening happens, a portion of our land shall be taken by the government. Though the settlement is provided at the guideline value, we might have bought it at the market value. One more phenomenon is that the settlement funds take a long time to reach the property owner like in terms of 3 to 4 years (In some major highway widening projects, even the process takes even more time). Whereas, if the same land has been in a zone far away from the highway vicinity, then the customer is able to sell it easily. Hence, there are many people affected by this kind of projects(like, losing their lands for a lower value, and in some cases even for nothing). We can say that these are the accumulated past karma between the Real estate people and the Highway people.
A Created Myth:
Whenever a strong Karma (Action) happens, at that point of time, some people see the true light and some people see the same in a haphazard manner. Those who see this past karma in a haphazard manner are the people who create myths in the market. Today we will take a commonly observed myth in the real estate field.
1. "Road widening is going to happen in your area. Your entire property may get affected - Sell your land and run away...!!!"
2. "Road widening shall affect your property in a partial manner - can't you reduce the rate...???"
So I am going to burst these two myths from the point of view of a Highway/Traffic Engineer in this article so that, a buyer can own his property in a bold manner even if some local people create fake news about road widening. At the same time, he can claim a right value for his property by analysing the truth.
Roads other than expressways are termed into four Types.
They are: (i) Arterial (ii) Sub-arterial (iii) Collector Street (iv) Local Street
Arterial: A general name indicating the road primarily for through traffic (long distance travelling vehicles contributing to traffic volume), generally on a continuous road.
(ii) Sub-arterial :
A general Name Indicating the road mainly for through traffic usually on a continuous route but giving a somewhat lower level of traffic mobility than the arterial.
(iii) Collector Street: A road for collecting and distributing the vehicle volume from and to local roads and also for providing access to arterial roads.
(iv) Local Street: A street primarily for access to the residence, business or other abutting property.
So, Now we can see that which of the above three roads have a possibility of widening to the most.
Arterial - yes, it can be widened. But there is a certain time interval for one widening to the second. That means, from two laning to four laning the time period shall be in more number of years, with respect to the traffic growth.
Sub- Arterial: Comparatively less possibility with that of an Arterial road.
Collector street - These roads are of standard sizes, built within the cities. Hence possibilities are less and cannot be done without any proper notice and a valid requirement.
Local Street - as the name itself says that it is a local street, there are no possibilities for a road widening in a local street. If it is happening, there may be some valid requirement.
So, If your property is in a collector street or in a local street - Don't worry if some people create a fake news about road widening. They are proposing to do some initiation for a sale or rate reduction of the property. If you wait, then the myths will get busted in an automatic manner.
I can give you some practical example of roads in and around Chennai for the above classification
Arterial road - NH -32 - Chennai - Theni Highway
Sub-Arterial Road - SH - 58 - Chengalpattu to Kanchipuram
Collector Street - Cathedral Road - Chennai
Local Street - Canal Bank Road
Now - we can analyse
when was NH-32 last widened? When can the next schedule happen for NH-32 to get widened?
When was SH - 58 last widened? When can the next schedule happen for it to get widened?
When was Cathedral Road laid? and can there be any widening possibility to acquire land on both sides?
When can a Canal Bank road get widened?
Please try to find answers with the local bodies by yourself - then you will get a clarity on the actual phenomenon.
Hence, if there is a news of Road widening - then it should be from authorized sources, else don't believe it.
Article dated: 31/07/2018
---An Article by Bharath Dhanasekaran ---
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