Is Location Really Important in Real Estate? | Dr. Niranjan Hiranandani Explains

In real estate, one phrase often repeated is “location, location, location.” But in today’s rapidly evolving world, does location still hold the same importance? With advancements in infrastructure, new business districts, and government initiatives, the way we perceive location has transformed.

Dr. Niranjan Hiranandani, a pioneer in India’s real estate industry, shares his insights into why location remains a crucial factor and how new locations can be created through strategic development. Let’s explore his perspective and understand how real estate investments are shaped by location dynamics.

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Location: A Timeless Factor in Real Estate

Location has always been a fundamental aspect of real estate valuation. Whether someone is buying a home, investing in commercial properties, or developing industrial hubs, the property’s geographical placement, accessibility, and surrounding infrastructure determine its desirability and value.

However, Dr. Niranjan Hiranandani highlights an important perspective—while location is crucial, it is not just a natural phenomenon. Locations can be created. A once-ignored piece of land can become prime real estate through government policies, business investments, and infrastructure development.

How Are Locations Created?

While some locations gain prominence due to their historical or geographical significance, many others emerge due to planned development. Dr. Niranjan Hiranandani provides various examples of how infrastructure, industry, and government policies have shaped new real estate hotspots.

1. OMR (Old Mahabalipuram Road), Chennai

This corridor was once just another stretch of road. However, it transformed into one of Chennai’s most significant IT hubs as businesses and technology firms began setting up offices there. This led to a real estate boom, making OMR one of the most sought-after locations in Chennai.

2. Chennai’s Upcoming Airport

Airports are significant drivers of real estate growth. The new airport in Chennai is expected to transform the surrounding area into a prime real estate hub. With increased connectivity and economic activity, property prices will likely surge, and businesses will flock to the area.

3. Mumbai’s Harbor Bridge

In Mumbai, the construction of the bridge across the harbor drastically reduced travel time between South Mumbai and emerging suburbs. This made areas that were previously considered far-off more accessible, increasing demand for real estate in those regions.

4. New Cities in Telangana and Andhra Pradesh

State governments in Telangana and Andhra Pradesh have taken initiatives to develop entirely new cities and capitals. While these decisions have sparked controversies, they also highlight the role of government intervention in shaping real estate markets. Once fully developed, these cities will become major economic and residential hubs.

Infrastructure: The Key to Unlocking Location Potential

Dr. Niranjan Hiranandani emphasizes that real estate is not just about existing prime locations but also about how infrastructure can create new ones. Here are some key infrastructure projects that significantly impact real estate:

1. Highways and Expressways

Road connectivity plays a major role in real estate development. A new expressway can reduce travel time between cities and towns, making nearby areas attractive for residential and commercial development.

2. Metro Rail Networks

Metro projects have transformed urban real estate. Areas that were once ignored become prime real estate hotspots once metro connectivity is introduced. In cities like Mumbai, Delhi, and Bangalore, metro expansion has drastically increased property values in surrounding areas.

3. Business & Industrial Hubs

When businesses and industries are set up in a particular region, job opportunities rise, leading to increased housing demand. Locations near IT parks, industrial zones, and commercial centers quickly become real estate hotspots.

4. Smart Cities and Government Policies

Governments play a major role in developing new locations through smart city initiatives, urban planning, and incentives for businesses. The rise of planned cities and economic zones proves that real estate potential is often a result of strategic development.

The Future of Real Estate: Think Beyond Traditional Locations

So, does location still matter? Absolutely! However, the way we think about location has changed. It is no longer just about where a property is today—it is about what it can become in the future.

For homebuyers and investors, this means looking beyond established locations and considering emerging hotspots. A place that may seem less valuable today could become a prime real estate destination in a few years with the right infrastructure and business development.

Dr. Niranjan Hiranandani’s insights serve as a reminder that while location remains the foundation of real estate, it is not just discovered—it can be created. Smart investors should identify future growth corridors, track infrastructure developments, and invest in locations with high growth potential.

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Final Thoughts: Location is Always Evolving

Real estate success lies in understanding how locations evolve over time. While prime locations will always hold value, the real opportunity lies in recognizing areas that are on the verge of transformation.

With infrastructure, business expansions, and government planning shaping real estate markets, location will always be critical. However, the key takeaway from Dr. Niranjan Hiranandani’s insights is this: Don’t just look at where the value is today—look at where it is being created.

By staying informed about upcoming infrastructure projects, economic zones, and government policies, real estate buyers and investors can make smarter, future-proof decisions that will yield high returns in the long run.