Rejuvenating the real estate market through revitalization of urban heritage

Abstract

The value of cities' underlying legacies is undergoing significant transformation as a result of unchecked urbanization and an ever-increasing urban population. According to the master plans for the extension of the cities, the majority of the efforts made in Indian cities to preserve the built heritage and the historic regions that differentiate them are insufficient and limited. Due to the possibility that these efforts may result in a decrease in the value of the real estate assets in the surrounding area, the government of India has been taking advantage of the land value and leveraging land value to generate income for its operations. It is possible to piece together the history and culture of a nation by visiting its various historic landmarks. The architectural history of a community is comprised of all of these different aspects. Historic buildings are more prone to deterioration as they get older, which implies that they are unable to continue serving the function for which they were originally designed. Its significance of it both as an integral part of the history of the region and as a potential source of income is recognized and appreciated by both visitors and residents of the region. Ancient cities were the epicenters of economic activity, political power, and the dissemination of knowledge. They also leave behind a wealth of scientific knowledge regarding the planning of cities, the management of resources, and a variety of other subjects. A sense of place and belonging can be cultivated through the study of urban heritage, the most significant symbols of the history of urbanization in a particular area. It is beneficial to society as a whole when individuals have a feeling that they are a part of the communities in which they reside. Many of India's heritage monuments have been forced to close due to financial constraints, which has necessitated a public awareness push to increase awareness of other sources of funding.