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- May 4, 2023
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Plots – A Gold Mine
Introduction
The real estate industry in India has been on the rise over the past few years, with various factors such as urbanization, rising disposable incomes, and easy availability of home loans contributing to the growth. In recent times, the industry has found a new gold mine – plots. Plots, which are parcels of land that can be bought and sold, are now in high demand among buyers and investors alike. This blog delves into the reasons why plots have become a lucrative investment opportunity in India’s real estate market.
Why Plots?
One of the key reasons for the popularity of plots is the affordability factor. While the cost of a built-up property can be steep, plots are relatively cheaper. Buyers can purchase a plot and construct a house according to their requirements and budget. Moreover, plots are often available in developing areas, which are cheaper compared to established localities. This makes plots an attractive option for buyers who are looking to invest in real estate without burning a hole in their pockets.
Another reason why plots are becoming popular is their flexibility. With a plot, buyers have complete control over the design and construction of their house. They can customize it to their liking, incorporating their preferred architectural style, interior design, and landscaping. This level of customization is not possible with pre-built homes or apartments. Furthermore, plots can be bought in any size, depending on the buyer’s requirement. This means that buyers can invest in a small plot and build a compact home, or they can go for a large plot and build a spacious villa.
The third reason why plots are gaining traction in the real estate market is their potential for appreciation. In India, land is a finite resource, and as the population grows, the demand for land increases. This means that the value of land is likely to appreciate over time. In addition, plots in prime locations tend to appreciate faster than those in developing areas. This means that investors who buy plots in areas that are expected to develop rapidly can make a handsome profit by selling the plot at a higher price in the future.
Another factor that makes plots an attractive investment is the ease of ownership. Unlike apartments, where the ownership is divided among multiple owners, a plot has a single owner. This means that the owner has complete control over the property and is not dependent on other owners for decisions related to maintenance, renovation, or sale. Moreover, plots are relatively easy to transfer or sell, as they do not involve complex legal procedures.
The fifth and final reason why plots are becoming popular is their potential for rental income. Investors who buy plots in developing areas can lease them to developers or builders for construction purposes. Alternatively, they can construct a house on the plot and rent it out to tenants. With rental yields in India ranging from 2-4%, investors can generate a steady stream of passive income from their plot.
Conclusion
In conclusion, plots are the new gold mine in the real estate industry in India. With their affordability, flexibility, potential for appreciation, ease of ownership, and potential for rental income, plots have become an attractive investment opportunity for buyers and investors alike. While investing in plots may require more effort and research than investing in pre-built properties, Estate Corp feels that it is up to the challenge of providing their customers with the potential returns of making a worthwhile investment.
