No matter what your bank balance or your salary is or how many fixed deposits you have opted for, owning a property has always been an assured investment for most of the Indians. People who have money and people who don’t or with a tight budget buy properties. No wonder every one of us want to buy properties and that is considered as a kind of social security at old age. People consider your wealth by the property you have bought in your earning life. In search of a fruitful investment people are even seen to go to the outskirts of the cities or the urban areas. Many hunt for properties in search for a home to shelter and many search land plots for investment purposes. Whatever it is there is always a debate whether the investment in land or home or apartment ensures more returns. The debate probably will continue as there will always be fluctuations according to the micro-market conditions and the overall economic conditions.
Especially in India, not only is the investment considered as a security measure or the measure of asset one accumulated in the lifetime but the success quotient is also measured by the fact whether you could afford a land plot with your income. The investors for many reasons like starting small with a tight budget or even with a dream of building a dream home start with buying a land. The expert realtors discuss the benefits of buying a land.
- Firstly a land plot gives you the choice of constructing anything that you feel like or a dream home of your liking.
- Plots assure high returns in the long run.
- The prices of land are lower as it’s hard to find land in the central parts of the city and hence people go to buy land in the outskirts.
What should one be careful about?
- Plots should not be counted for quicker returns as mostly the plots are in outskirts or developing areas and it takes time for the prices to escalate.
- One should know the plan of the local authorities and then select a plot with infrastructure advantages and one should not compromise on prices.
- Lands should not be bought from unstructured seller or aggregators and many a times the additional discounts being offered are to lure customers to increase their profits.
- Reputed developers are always advisable if one wants to buy land from as that can minimize the hassles of legal disputes later on.
- The documents should be scrutinized by lawyers and there should be clear titles and sole sellable rights of the seller. Check with the sub-registrar’s office.
- Check for the job generation aspects of the area or infrastructure facilities like whether there is a probability of upcoming famous educational institution, IT Park or even roads or metro railway projects being planned.
- Every city or its municipal areas have their own respective laws and bylaws and it’s always better to check for those before buying the land property.
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