Plot Or Flat: Here’s How You Can Decide Which Is a Better Investment Option for You
Each of us is at a different stage of our investing journey. For some of us, this may be about moving into our very first home. For some others, it could mean earning a good livelihood from the investments we make. Investment decisions are confusing & a lot depends on your objective when it comes to property investment. Here’s how you can decide which a better investment option is for you – plot or flat.
Investing in a plot
- Liquidity– Land is always in great demand. The value normally appreciates immediately due to zero depreciation on land.
- Customisation– Another added benefit is that, it gives the owner the flexibility to construct their home according to their own requirements.
- Age no bar– The supply-and-demand equation also works in favour of plots as land becomes scarcer. Also, age does not affect a land parcel as it doesn’t become dilapidated soon.
- Less hassles– It goes without saying that no maintenance charges have to be paid which leads to a lot of cost savings. The buyer doesn’t have any financial obligations once the payment is made and the plots are usually delivered on time.
- Value appreciation – With space availability being a rising issue in every city, it is expected to appreciate very quickly. Flexibility of option to build as per future requirement helps the cost of land and property to increase very fast.
- More frills– Over the years, real estate developers have started offering more than just land. They understand the discerning client’s mind and their aspiration to design a dream home. That’s why many residential plots in Hyderabad are flourishing rapidly owing to their impressive infrastructure and excellent connectivity to the city. Shankarpally area is one such offering residential plots in Hyderabad to invest in, where House of Hiranandani has built a 65-acre township. Along with lush greenery and an elegant lifestyle, it has accessibility to major landmarks and offers plenty of recreational facilities inside. The House of Hiranandani Shankarpally Hyderabad project is among the best residential plots, with sizes ranging from 1650 sq.ft to 2700 sq.ft.
Investing in a flat
- Ready conveniences – Owning an apartment is a lifestyle choice for many people. The key advantage of buying a flat is of course the array of amenities and services that come along with it to help you live a hassle-free life.
- Bank assistance- It’s very easy to take a bank loan for buying a flat. In the case of a home loan, a buyer can get nearly 80-85% funding. Moreover, the maximum loan tenure for a flat can even go up to 30 years.
- Regular income source- Flats are ready to generate handsome income from the first day of taking the possession if it is given on rent. There are less chances of litigation with modern laws in place.
- ROI- A flat’s worth keeps increasing over time since the demand is always increasing. Prices of flats rise higher and faster given their limited number compared to independent houses which may not boast extra facilities that a housing society provides.
- Appreciation- You should buy an apartment only after gauging the growth potential of the locality. Flats generally give a better ROI if they have a location advantage. Chennai OMR region for example, is fast becoming a favourite with prospective home buyers due to its excellent connectivity and location edge. The House of Hiranandani Chennai OMR project offers a holistic living experience to its inhabitants. It has 2BHK, 3BHK, 4BHK, and 5BHK luxury apartments situated strategically opposite the SIPCOT IT Park with a breath-taking view of the Bay of Bengal. They are among the most sought after residential projects and luxury apartments in Chennai, OMR. Thanks to the ideal location, the House of Hiranandani Chennai OMR project is a boon to all working professionals.
So, how to decide between a plot and a flat?
To judge the best investment avenue between a land and a flat, one should first focus on one’s own requirements. If you want to use the property for personal use, then land could offer an advantage of usage flexibility and handsome value appreciation in the long run. However, if you want to resell the property after a short period, then it is more profitable to take a position in flats as its worth keeps increasing owing to its demand. If earning a regular rental income is on your mind, you must invest in a built-up flat. An apartment can be rented out to fetch you some income, whenever you want. If the investor is a senior citizen or someone who cannot devote much time to maintain the property then it is advisable to take the choice of a flat over land.