Planning to build in a new city? Here are 5 quick tips to help you choose the right plot of land.
You could be a broker or consultant advising your builder client on land acquisition in a new city. You could also be an important part of a builder's land acquisition or business development or new initiatives team. Or, you could even be a real estate enthusiast. Whoever you are, we have 5 quick tips for you that will mostly hold solid other than really exceptional situations in the land acquisition domain.
1. Look up the plot on Google Earth. Look out for the density of population around the plot. See what is around it. A running large industry bang next to a gated community you are planning will not make sense. Look for deterrents. Also, use the history slider to find out how the city has been treating that neighbourhood for the last few years. You will have a good idea if you spend an hour on that satellite image interface.
2. When you land up in the city, drive to the plot and take a drive around the entire area. If you have a pre identified target area for your development, it makes sense to physically check this out and re confirm if your assessment holds true.
3. Stay the night and drive by the site at 9 PM. A truer picture about the area will emerge. A lot of myths could get shattered and you could save yourself or your company a lot of time and money!
4. If there is no local builder presence in the area, scoot brother. If they are not there yet, neither should you be.
5. Once you have done points 1 to 4 you should have an answer in your heart. We call it the gut feel. If you think you need a feasibility study done to form your first opinion, you are either going after a wrong land lead or you are not a land acquisition guy. Call for help. :) Remember there is a lot at stake. You don't have to look smart. You have to decide right!
Those 5 tips ought to make you look good in the board room. Be a pessimist when it comes to land acquisition and an optimist once you have bought it. That's the best way we have seen it being done, by the best dudes in the industry!
Cheers!
1. Look up the plot on Google Earth. Look out for the density of population around the plot. See what is around it. A running large industry bang next to a gated community you are planning will not make sense. Look for deterrents. Also, use the history slider to find out how the city has been treating that neighbourhood for the last few years. You will have a good idea if you spend an hour on that satellite image interface.
2. When you land up in the city, drive to the plot and take a drive around the entire area. If you have a pre identified target area for your development, it makes sense to physically check this out and re confirm if your assessment holds true.
3. Stay the night and drive by the site at 9 PM. A truer picture about the area will emerge. A lot of myths could get shattered and you could save yourself or your company a lot of time and money!
4. If there is no local builder presence in the area, scoot brother. If they are not there yet, neither should you be.
5. Once you have done points 1 to 4 you should have an answer in your heart. We call it the gut feel. If you think you need a feasibility study done to form your first opinion, you are either going after a wrong land lead or you are not a land acquisition guy. Call for help. :) Remember there is a lot at stake. You don't have to look smart. You have to decide right!
Those 5 tips ought to make you look good in the board room. Be a pessimist when it comes to land acquisition and an optimist once you have bought it. That's the best way we have seen it being done, by the best dudes in the industry!
Cheers!
Post a Comment