Investing in plots is becoming a popular choice in India today. More and more people are opting for plotted developments. It has emerged as the most popular choice for various reasons like higher returns and less investment cost. Keeping in mind the Covid-19 crisis, the economic situation where inflation makes the cost of buying a flat close to impossible, it is the plots that are gaining traction.
To invest or not to invest!
Several aspects like cost of building, appreciation, financial assistance and income have to be assessed before taking any investment decision. Buying a standalone plot means the freedom to build a home as per one’s taste and budget. Once you have your budget in mind, you can proceed by selecting the type of land you want to invest in and whom you want to buy from – government authority, private developers and individuals.
Below are the advantages of investing in plotted developments:
The cost of buying a piece of land is lower than moving into a readymade home. It ensures cost saving for you, which you can invest further for construction. Thus, plotted developments have become a good option for people who want financial freedom.
Lands and plots have shown a higher rate of return in India. When you invest in a piece of land and build your property on it, the value of that property appreciates more than the invested amount. Some people construct lavishly like hotels and resorts, which further provides higher returns through rentals.
The freedom to choose your preferred design and convenient time make plotted developments unique. Since people build homes to remain in them for an extended time, it’s good to own a home as a reflection of your personality. If you don’t want to build a house, you can always sell the land to someone looking to construct a commercial or residential property. The returns on land investment are alarmingly high.
No maintenance cost
When you are investing in apartments, you need to pay certain maintenance costs irrespective of whether you are planning to live in the home or not. In the case of plotted developments, you don’t have to pay any maintenance cost enabling you to save more. The savings can be used to add more amenities to your home!
Transparency is a big deal
Properties such as villas and apartments can hide a multitude of issues such as plumbing, wiring and structural elements. And later, these can be a source of extra expense for the family. In the case of a plot, investors themselves can curate these elements as they wish and under their budget.
Therefore, investing in a plot of land is undoubtedly one of the best options for buyers who prefer a low investment with high returns in the future. Hence, plotted developments stand out from apartments. You can create your own world here, no more settling down on something based on others’ preferences.