Location is the most crucial factor when choosing a home to buy or rent. A house in the right location will ensure all the conveniences, whether it is commuting to different parts of the city or accessing the essential amenities. Moreover, location also impacts property prices and rental rates. Typically, homes close to key transit hubs like airports are sought-after and more expensive than properties in other areas. In India, the number of domestic air travellers has significantly increased over the years owing to affordable flight fares and increased disposable income. Business travellers typically prefer accommodation near airports since it saves them valuable time catching flights. There is a higher demand for rented properties near airports. In this guide, we discuss the pros and cons of renting a property near an airport.
Benefits of renting a property near an airport for tenants
Location advantages: Those residing near airports enjoy location advantages, with access to amenities, arterial roads, metro, etc. Moreover, these areas emerge as commercial hubs with several offices. There are numerous MNCs near airports in cities such as Delhi and Bangalore. For these companies, employees can easily fly in from other countries and get accommodation in the same neighbourhood close to the office.
Increase economic activities: The areas around an airport are prominent hubs for local economies, contributing to real estate developments and property values. It also increases the employment opportunities in the area.
Easy access for frequent travellers: Renting a property near an airport ensures easy access to the airport, especially for frequent travellers and airport staff. One can catch flights with a short commute, saving time and effort.
Access to amenities: The neighbourhood around airports is usually well-developed and equipped with quality social infrastructural facilities, including shopping malls, restaurants, recreational facilities, etc. This fulfils the lifestyle needs of the residents and the travellers residing in the area.
Cons of living near an airport for tenants
High rental rates: While prospective tenants have plenty of property options to choose from near an airport when searching for a home, they may have to pay high amounts as rent and maintenance fees since it is a prime location.
Traffic congestion: The area surrounding airports usually experiences heavy traffic flow, leading to frequent traffic congestion. Residents should keep this point in mind and plan accordingly when commuting for work or catching flights.
Health risks: Residing near airports increases health risks. According to several studies and reports, the noise pollution from planes flying overhead has negative effects on sleep, heart health and overall quality of life, even causing anxiety and depression. The chances of respiratory issues also increase due to pollution.
Benefits of renting a property near an airport for landlords
Higher rental income: A property near a bustling area like an airport is mostly preferred by business travellers and tourists, given the convenience of easily catching flights. The steady rental demand is a huge advantage for property owners as they can look to earn a steady rental income with high rental rates.
Property price appreciation: Investing in properties near airports is ideal for those looking for long-term returns. Such properties have the potential for significant price appreciation in the future. Airports witness expansion and get modernised with new-age facilities. This stimulates infrastructure growth and enhances the neighbourhood’s appeal, contributing to an increase in property values.
Rental rates near airports in top cities
| City | Monthly rental rates for apartments |
| Delhi | Rs 20,000 – Rs 1 lakh |
| Mumbai | Rs 50,000 – Rs 1.3 lakh |
| Pune | 0Rs 10,000 – Rs 40,000 |
| Bangalore | Rs 25,000 – Rs 1 lakh |
| Chennai | Rs 20,000 – Rs 1 lakh |
| Hyderabad | Rs 15,000 – Rs 40,000 |
| Kolkata | Rs 20,000 – Rs 60,000 |
| Ahmedabad | Rs 25,000 – Rs 50,000 |
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Housing.com News Viewpoint
Residing near an airport has its advantages and disadvantages. Prospective tenants can evaluate factors like duration of stay, budget, and health when renting a property. Like renting a property in any other area, prospective tenants must perform due diligence, which involves assessing the neighbourhood and verifying property ownership documents to avoid any hassles later.
FAQs
Are properties near airports expensive?
Typically, property prices are high in localities surrounding an airport. Similarly, the rental rates are also on the higher rise.
Are there zoning restrictions for properties near airports?
There are regulations and zoning restrictions for properties near airports. If one is looking to invest in a property or buy a plot near an airport, they can check with the local authorities to ensure compliance with relevant guidelines.
| Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at jhumur.ghosh1@housing.com |
