Plots have always been a great option for investments in India. Although we have several options to invest in, plots continue to be the go-to for investors. Plots provide higher returns on investments and are reliable compared to other types of investments. In some cases, plots can fetch higher returns than other traditional investments.
When it comes to buying your dream house, people always have confusion about buying a plot or fully constructed land. The current generation is always inclined towards the apartment lifestyle for its numerous benefits. But when you invest in plots, you get more advantages along with extra financial security.
Plots near Mannivakkam will have an unparalleled resale value in the long run compared to ready to occupy properties. Moreover, you can choose to resell the property or construct a house of your desire in the space. In this post COVID era, real estate investment is picking up its pace and you can use this opportunity to make an effective investment for your future.
For most people across all economic classes, owning a residential plot has always been a popular choice. Plots will serve as a great asset in the long run and will also provide great returns. In India, owning a residential plot is seen as an emotional factor and some people inherit their ancestral property. In recent years, the appreciation value of plots has increased to over 800% in the market.
Chennai is one of the fastest growing cities in India and it has attracted several real estate developers from around the country. While owning a plot in Chennai will provide the best of two worlds, here are the top reasons why you should invest in plots.
You get utmost financial security:
One of the first terms that come to mind after planning on investing in an entity for most people is financial security. Since every investor will seek the safety of his/her investment, residential plots are a wonderful option. As it is a well known fact that the value of plots near Mannivakkam will go higher in the future, now is the right time to act.
It provides great flexibility:
Investing in residential plots provides great flexibility as they are different from apartments and villas. When it comes to residential plots, they are completely at your creational disposal as you will have the freedom to choose the structure, configuration, size, design, etc. Residential plots will not require much maintenance and minimal visits of properties occasionally will be enough.
You get to live in a locality with well developer amenities:
Everyone will expect well developed amenities in a locality while purchasing a residential plot. If you are planning on buying land for sale near Mannivakkam Chennai, you will get great connectivity to the prime location of the city. You will get to live in a gated community and will have access to 24/7 electricity. Apart from these, the residents will get underground drainage facilities and security.
As there is a significant surge in the demand for residential plots, several top notch real estate developers have stepped into the market. As a result, the city now has several townships that provide great access to arcades, parks, schools, and much more. Just like the apartment residents, now people living in gated communities with villas can also get to enjoy the shared amenities.
Moreover, residential plots are less complicated:
One can easily search for the ideal residential plots rather than individual houses and apartments. When it comes to the other options, people will have high expectations and may not have the option to customize them. With minimal research, you can easily get a plot for sale in Mannivakkam at pocket friendly prices. When it comes to legal approvals, you will have to deal with lesser paperwork and lesser processing time compared to villas and apartments. You can easily get approvals for water, corporation, electricity, building, etc.
You can get it at an affordable price comparatively:
A majority of home buyers will look for options that fall under the affordability line. In the case of residential plots, they are often contrasted in terms of price with other options like villas and apartments. They can also be the perfect option if you are looking for long term investments. You can also avoid the cost of maintenance as it just requires site visits occasionally. Even if you have plans to build a house in the plot after a few years, your initial investment will be less.
Residential plots are tangible assets:
Residential plots are tangible assets and that is why it is preferred as one of the best investment options if you are planning on long term returns. The value of land depreciates only in extremely rare conditions and hence it is proven to be one of the most beneficial investments by most Indians. If the local governing body proposes development plans in that locality then the overall value of the plot will shoot up. Even if you don’t have plans to construct a house in the future, you will at least have possession of the land which will bring high returns.
Conclusion:
Residential plots can be a lucrative option if you are planning on investing in the real estate sector. You can easily get a plot for sale in Mannivakkam and benefit from a capital gain in a few years. As the value of residential plots is increasing tremendously, now would be the right time to step into the market.
