It is Risky to Buy Property in Religious Localities?

Selling the Property May Bring Trouble:

Most of the times, you may find it hard to sell your property in such localities especially within your price bracket. The main obstacle one may encounter here is that people are not very open to stay close to religious structures listening all day long to religious songs and chants which may also turn out to be a distraction to school going kinds. Adding to it is another issue of traffic, as temple areas are usually packed with people and vehicles that leads to traffic conjunction and noise pollution.

However, the property prices in such localities may also fall rather than going up. For instance, the religious town of Andhra Pradesh, Puttaparthi has witnessed quick fall in the property prices by 50 percent soon after the death of Sathya Sai Baba.  Earlier, price was around 800-1000 per square feet for an apartment because of foreigners and businessmen who stayed for longer period of time to meet as well as to take a glimpse of the prominent spiritual figure.