For many, owning a home is a dream and people put their life savings into buying a house. Many look at buying a house as an investment that will benefit them in the future. While some are confused about the kind of house they want to buy, how to decide on buying a plot or an apartment continues to puzzle the buyers.
In this regard, real estate experts suggest that investing in a plot has its own perks and benefits. First, buying a plot in and around Hyderabad would guarantee a premium and independent lifestyle. Having a plot of your own gives you total ownership of the land and you are free to use the land according to your choice. Unlike apartments, plot owners do not share land space with others, offering complete ownership of the land.
Eshwar N, CEO of G Square Housing, said: “Homes have become more than simply a place to live or an object to own. They define our identity, our way of life, and a sense of stability. Independent homes are encouraging people’s ideas as apartment living thrives with mere cutting-edge conveniences. Large open plots that allow you to build houses the way you want them, in communities that offer the best facilities, in favourable locations, are one more living choice that is drawing attention.”
High return on investment
Plots can have a bigger resale value, so if you buy a plot in a terrific location with excellent facilities that are only going to expand, you may be making a smart investment decision. Apart from this, a plot can be a dual asset. It can be modified into a commercial space at any given point in time. A plot is an asset that can be passed on to future generations as well. Hence, buying a plot is a wise option and would be easier to sell when needed.
Transparent purchase
Many people are a little hesitant to buy a plot because it is a big amount to invest, and you need someone trustworthy. The builder may have all the approvals, but during construction, if there is any aberration on the builder’s part, the apartment owner must face the risk. Plot projects don’t need any construction approvals. The only thing a plot buyer needs to look into is the title and the layout approval from the relevant authorities.
Fast developing areas
Areas within the ORR of Hyderabad and those closer to the Hyderabad Airport are best suited for people who are expecting good returns. One should do thorough research before buying any plot or land so that the money invested is safe and sound.
A dual asset
A plot can be a dual asset. It can be modified into a commercial space at any given point in time. A plot is an asset that can be passed on to future generations as well, experts say.