India is a growing economy and a land of contrasts with a burgeoning middle class and the well-off population. Between the two groups is the common man, who is always finding ways to save some money for a rainy day. Such individuals are constantly searching for a good investment scheme that would help multiply the money. In the recent one year, the pandemic taught us that mutual funds are subject to market risk, gold is dependent on the share market and fixed or recurring deposits barely yield a profitable margin. Therefore, the best form of investment has to be investing in land or residential plots. People have always wanted to own a piece of land, an area that they can build their dream house on, but the question remains: is it good to invest in plots? Listed below are 5 reasons why buying residential plots in India is a good investment.
1. Great Returns:
It is important to remember that the value of land, which has a fixed supply never depreciates, especially in a country like India, where people are finding it harder and harder to find a space that meets both their dreams and budget. In such a scenario, plots act as a great investment opportunity for the future. Plots are always high in demand considering the scarcity of land and their higher appreciation value. Therefore, they offer great returns and can act as a source of financial stability in the future.
It’s every person’s dream to make a house of their own and residential plots let you fulfill that dream, exactly the way you want. Buying apartments or ready-to-move houses don’t allow you the liberty to make changes as per your heart’s desires. Some major changes can’t be done without the permission of the society or may require you to spend more money than necessary. In such a scenario, plots are an easier way to build and create a house according to your desire.
3. Fewer Complications
A plot is very easy to acquire. Just search the ones you like, visit the previous owner of the plot and buy it from them by following a simple legal procedure. The number of legal complications one has to go through while buying an apartment or a flat is more as compared to buying a piece of land. Moreover, there are no additional financial hassles like maintenance fees or such while buying land. In fact, in India, the property tax on plots is way less as compared to other kinds of residential property. This grants you a hassle-free experience when you have no one’s interference since the plot is yours alone.
Budget plays a key role in deciding where to make investment. And while buying a house may not seem so budget friendly, buying a plot definitely is. There is always a plot that can cater to your need based on size and location. Just doing some minimal research will help you find a plot that not only fits your financial need but also your idea of a dream house.
5. Age of Plots
Residential plots have a firm foothold in real estate investments since age does not affect your investment. The value of a plot is always bound to rise as time progresses. It is also easier to develop a plot, and given that there are always interested buyers around, it’s also easier to sell it off with a profit margin.
If you are now thinking of investing in a residential plot yourself after reading this article, allow us to present Tata Crescent Enclave, a premium housing project by Tata Housing that is offering residential plots with good connectivity and infrastructure in the midst of nature. Crescent Enclave is located in Chennai and plots here will be available to buyers with prices starting as low as 14.07 lac. So, look no more, Tata Crescent Enclave is the answer to all your investment plans.