Pune is now a budding cosmopolitan city emerging as a rising spot for real estate investments. Investors consider the city as one of the most viable and lucrative places for investing in residential reality spaces. The thriving engineering, automobile, education, IT sectors, and pleasant weather are the key reasons why buying a residential plot in Pune or a flat is an excellent investment option.
Investing in a residential plot is one of the most reliable forms of investment and offers great returns. Buying land is the creation of an asset and losses in this investment are almost rare. You may buy a plot and sell it at your choice of price or when needed. Land in Pune is more affordable and the city offers a well-developed social infrastructure which ensures good ROI.
Let us explore why buying a residential plot in Pune or any other city is an excellent investment option.
Benefits of Investing in Residential Plots
- Flexibility of Ideas
While designing houses, many times people have ideas but they are not compatible with the flat they wish to purchase. Since flats generally have a set layout, implementing those ideas is a tough job. Minor changes may be made but implementing major transformations in an already built house is a little difficult. The biggest advantage of a residential plot is that you can design your dream house as per your taste and style and take your own time for the same.
- Low-Cost Investment
Buying a flat/house may turn out to be costlier than purchasing a residential plot and building a house on it later. You can buy land as per your budget and build a house later when your finances permit.
- Good ROI
Returns from a plot of land even in a short period are way beyond that in a flat. The value of plots increases with time. However, you must keep in mind that the value of land varies mostly due to the surrounding environment, social infrastructure, and upcoming facilities in the area.
- No delays
People generally buy under-construction projects which are lower priced than ready-to-move-in ones. In this case, you purchase a house that is not yet finished and you have to wait for the construction to get over before getting possession of your house. For land investments, however, there is no delay at all. Once you complete the formalities you can immediately take over your land. Also, there are no delays in construction.
- Easy Paper-Work
Buying residential plots requires much less legal procedures, paper-work, and formalities as compared to buying houses. You can easily research to find a desirable plot for yourself within your budget.
- No maintenance
Investing in residential plots requires no maintenance at all. You only have to check it regularly to ensure it is in good condition.
While selling, investors need not worry about competition in the pricing of a plot, you can set their prices according to your current market trends. But if you need to sell homes it may be tough due to variations in factors such as size, surroundings, materials used, and the amenities provided.
- Low property tax
Property tax is something that every person, in possession of land or house, has to pay. It has to be paid whether it is a house tax or tax for land. But property tax for the land is much less compared to house tax making it far more profitable than investing in houses.
- Build your house at your leisure
Last but not the least, the biggest advantage of investing in residential plots is that you need not put all your money into building houses at once. You may take your time, use your money efficiently and distribute it over a while so that it doesn’t dent your pocket.
With excellent returns, less hassle, a residential plot is a better bet any day. The above pointers may be helpful for you in deciding where to invest and what to expect. All the best!