The collective reaction of vehicular congestion, long distance between work and home and nuclear families has jolted the life of young parents and thus the homebuyers in India today are looking to buy a home near the school as it has various advantages.
The industry experts feel that a majority of home buyers in India are the young parents and thus the demand for residential projects near to educational institutions is on a high. However, the opening of reputed educational institutions in all major cities in India gave homebuyers the opportunity to choose a residential unit from a wide range of properties.
Need of Homes close to School
- Security is a prime concern for every parent and residing close to school means they can pick/drop the kids or the wards can commute easily via the school bus. A home near to school keeps the young brains protected from mishaps like accidents, abduction and more. Thus, the homebuyers in India prefer to buy a home close to schools.
- The parents today prefer to own a home near the school for the overall growth of their wards. The kids can attend classes to learn apart from regular studies such as the karate class, swimming, badminton, dance, music and more.
- Not only this, but the various schools also prefer admission to kids living within a few km radius of their institution. This is because the students can easily attend other curricular activities, extra classes and can be attentive to the classes as short distance travel does not make them feel tired.
ROI on Residential Properties near Schools
- The return on investment is an important factor to buy a residential property near the school as you can yield handsome rental income by hiring a tenant family having school-going kids. The residential properties enabled with amenities and located at a short distance from school attract tenants especially the nuclear families who aim to admit their wards in reputed an educational institution.
- For example, in Sector 71, Noida, where the Global international school is located the property price trend is Rs. 4,675 – 5,398/sq. ft to buy an apartment and the monthly rental income of 1BHk in this locality is between Rs. 8,323 – 9,248.
- The homebuyers in cities like Mumbai, Bengaluru, Pune and Chennai prefer to buy a home close to school as it is comfortable for the ward and the parents, both. The walkable distance to School, easy accessibility and strategic location creates a secured living and learning environment for kids.
In India, the homebuyers ranging between 30-40 years of age prefer property purchase close to schools.