Is it worth to buy property near an airport ?

When your realtor shows you a house near an airport, some buyers  find the travel perks of living near an airport while some would avoid being under a flight path. According to realty trends proximity to the airport will prove beneficial in booming the capital value of residential properties in the neighborhood.

Property near an airport has its own pros and cons. Living near an airport can mean noise pollution of aircrafts and a lot of traffic too. Even if you consider reselling such a property, home’s poor soundproofing could prove to be a deal breaker.

You need to consider the merits and demerits before buying a property near an airport as mentioned below:

Merits-

1. Advantage of location-

 An apartment close to the airport can be beneficial if you are a frequent flier as you may be able to reduce your travel time between destinations. The surrounding areas near airports enjoy excellent connectivity with the city centre by well-developed roads, flyovers, expressways and highways. It has various perks like good transport facility. Airports also offer employment opportunities to many. For instance, in Gurgaon, the proximity to Indira Gandhi International (IGI) airport and a shortage of office space in Delhi have led to more multinationals setting up their offices in Gurgaon.

2. Good return on investment-

 Over the past few years, airports across India have transformed into growth zones. It is well known that good infrastructure leads to better capital appreciation. This is especially apparent in Bangalore’s case, where the new international airport transformed the locality of Devanahalli.

3. Good quality of life-

 Proximity to an airport spurt up the realty development in its neighborhood, the area eventually might emerge as a commercial destination. It can witness expansion new retail outlets, malls, hotels, schools, entertainment zones and restaurants. This ensures a good quality of life. The availability of premium apartments in the locality anyway guarantees top notch amenities such as gym, spa, community center and swimming pool within the project.

Demerits-

1. Threat to health-

If the property is under a flight path, the noise of aircrafts flying overhead may have serious repercussions on health surrounding population. If your home is equipped with good quality soundproofing, then the noise won’t be such a hassle. As per a study by Harvard School for Public Health, loud noise can lead to short-term rise in blood pressure and also disturb your sleep.

2. Overpriced properties-

 “A property near airport comes with a premium price tag. The investors, especially NRIs and HNIs prefer investing in properties near an airport, which means price index for the end-user becomes higher,” explains Kundu. Not all, but many developers in such area demand higher maintenance fees against other 'prime location' properties.

What should prospective buyers do?

Firstly, they must consider the tally travel time, noise tolerance and investigate property development. Being close to business and retail developments can increase property value. But a home very close to the physical border of the airport might decrease in value should the airport decide to expand or add additional runways that create new flight paths.

If the home is near the airport but not in the flight path, its location would add to its value. If it is under a flight path, then get your home equipped with quality sound proofing. 

Consider each point while buying and do not make decisions in a hurry.