A Refresher on Investing In Residential Plots in South Indiaby Ashok Nandavanam Ashok Nandavanam
While planning to invest in property, you will have two major options present in front of you. You may either opt to invest in an already constructed building or choose to buy a plot of land. Both of these options have their pros and cons. If you have plans to move into a new house within a short period, then obviously buying a ready-to-move-in flat will be a better choice. However, if you are buying property as an investment tool, want to buy a second home, or are expected to move into the new residence after a year or so, choosing a plot of land will be a better move. The plots in Manali, Tambaram, and many other suburbs of Chennai and other cities in South India have a better reselling value as compared to ready-to-occupy properties. This feature of plots makes them an ideal investment avenue for ensuring long-term financial security. You may resell the plot for a much higher value later or build your dream home on it, depending on your requirement.
Here are some of the top advantages of investing in residential plots:
- Budget: Prior to making any investment, you obviously have to consider your budget. Buying plots is much more budget-friendly than investing in a flat or independent villa. You can buy a plot at a central location, without having to pay too much.
- Lesser complications: Procuring a plot of land involves pretty fewer complications, especially in terms of getting relevant legal approvals. An already constructed house may require corporation and water approvals, which are not always needed for residential plots.
- No Interruption and delays: Due to delays in construction, the delivery of flats often gets delayed for weeks or even months. There are many factors due to which the delivery date of flats may get delayed, such as climate, working conditions, workers strike, approval delays, and so on. Plots, on the other hand, will be transferred to your name quite fast, without any hassle.
- Maintenance-free: Residential plots do not need much in regards to maintenance efforts. You simply have to visit the property once in a while and get it cleaned occasionally.
Ideal destinations to invest in property In India
Real estate in India has experienced quite a dynamic transformation in the last couple of years, especially due to various regulatory policies brought about by the government. Reforms like GST and RERA have changed the landscape of real estate in the nation significantly. South India managed to gain impressive momentum in real estate as these changes were being ushered in, and has been a quiet crusader ever since. Cities like Hyderabad, Bangalore, and Chennai are currently considered to be a part of the global real estate map. The popularity of plots in Manali, Madhavaram, and other suburban regions of Chennai has also increased considerably. Various new policies implemented by the government led to certain structural changes in the Indian economy. Influenced by those events, major cities and suburban centres of South India emerged as a focal point for future real estate developments. The presence of robust infrastructure, strong IT and start-up growth, and availability of land at reasonable pricing in South India have also contributed substantially to this trend.
Author Bio: The author of this article has worked for many years in the real-estate sector of south India and has been associated with some of the most reputed property developers in the country. She maintains her own blog, where she majorly talks about the latest trends in the Indian realty sector.
Created on Nov 15th 2021 23:54. Viewed 188 times.