Location and Market area description is the foremost requirement
in a market study for development of housing. It is critical to
study this aspect as:
- one has to determine the prevailing prices for raw material and
labour in that particular location to make it an affordable
project.
- one has to determine the availability of transport facility in
that area
- one has to ensure that the selected location is covering a
minimum required distance from industrial areas
- one has to determine the connectivity of housing to roads
- one has to determine the demographic criteria prevailing in the
selected area
- one has to determine the rental price prevailing in that area
if one wishes to rent the house
- one has to determine that the selected area is well versed with
other facilities like clothing centres, grocery shops, departmental
stores, medical stores etc.
- one has to determine wether the selected area is densely
populated or scattered vastly in order to avoid theft and
burglary
- one has to determine wether the selected area is clean and
developed
- one has to determine the availability of agents and their
fees.