When one considers the resale value of the house, most peoplelooks for an independent house. They prefer to buy a plot and get it construct on their own rather than going for a built up home. Buying a plot anywhere in India can be challenging unless you have a sound financial backing, but at the end of theday the land is yours.
Builders are launching several residential plots in Noida. Also, banks offer several types of home loan in India which includes loans to buy plots and also for construction, so if you can own a plot it is a better investment than buying an apartment. Houses have a greater resale value because the person, who is buying the house, also becomes the owner of the plot on which it is built.
Benefits of investing in a plot are more as compared to investing in an apartment:
Maximum Flexibility- You are your own master. When you invest in a plot you get to choose as to how you want to build your house. You are your own designer and architect as you can infuse your personality into your home. The end result is a projection of your taste and an extension of your personality.
No Delay Issues- When you invest in a plot you don’t have to wait for completion and possession, they are usually ready for possession. Also when you build your home on your own, you are not bound by any timeline. You surely would like to finish the construction soon enough, but you are not answerable to anyone.
Tangible Asset- A plot is a tangible asset unlike shares or bonds. If the markets are stable the plots would appreciate manifolds. The value of the built house can depreciate due to wear and tear over time, but the value of land depreciates in extremely rare situations.
Quick Returns- The value of a plot is likely to increase faster and also within a short span of time.
Ageless and Priceless- A plot will not decay ever. A building not constructed properly may decay and depreciate in value, but the value of the plot will only appreciate.
Cost Effective-The cost of a plot is lower and hence more affordable.
Long Term Appreciation- A plot will stay in the same condition in which you purchased, unless natural calamities come into play and destroy the plot. In view of this, plots regularly appreciate exceptionally well. Real estate in whatever form is a sound and profitable investment as compared to other forms of investments.
Read More About……..Plot Vs. House- Where to Invest?