With lots of investment options available, it is very difficult to find out the safest and the best choice for high returns. People usually search for both – safe as well as steady return on investment. Most of us normally start with saving in a Bank or Fixed Deposits making way for gold based. These are very handy and do need much know-how. Family and friends are the best advisors in these cases.
The average citizen is usually wary of investing in property unless they plan to live in one. But a well researched land or plot will fetch higher returns, more than any of the traditional means.
As said by Mark twain – Buy land, they’re not making it anymore
Here are 8 important reasons why investing in a plot of land is a worthwhile choice.
- Vanishing Resource
- Gated Community
- Developed Amenities
- Resale flexibility
All the metro cities like Chennai see a steady increase in population year over year. Adequate land and housing is required to meet this growing population needs. As a result the city is expanding in all directions. The core area of a city like Chennai is governed by the Chennai Metropolitan Development Authority (CMDA). Lands on the outskirts of Chennai are governed by Directorate of Town and Country Planning (DTCP). The value and prices of land are typically more for CMDA based plots.
Nevertheless of all the property values are growing, but still, the plots for sale in Thirumazhisai, OMR and Guduvanchery experience more growth than the others. That is due to the presence of Industrial and IT hubs that drive a lot of job growth.
For example, today a bare place in the city may have less value, but with the development of infrastructure and industry, the value can increase to its double within a few years. Like now, people are investing in plots as it is expected to give a good return on investment.
Hence, the location can be said as a prime factor, which one should consider when it comes to investment in plots.
As we know, due to the scarcity of the plot, the demand is increasing drastically, which in turn making the value appreciates quite high and if you invest in a CMDA (in Chennai limits) then you can except quite far more, as in Chennai getting a well-furnished plot space is almost impossible.
The value of gold over the last few decades has not shown as much growth as has the value of good land parcels and plots.
The plot gives you a high flexibility on what, when and how you want to build your dream home. That is your piece of land, you can play around with everything from structure, configuration, size, design to timeline you have got the freedom of full control to build it as per your own personal preferences.
Always consider plots that are part of a Gated Community worth its name. The plot should be present in a well fenced and secured location. By ensuring, that you have a secured plot, you reduce the risk of encroachments as well as increase its face value.
The bare minimum that is expected from a quality plot developer is to provide good road access to the gated community. In addition, internal roads, electricity, underground drainage should all be completed before handover. Each of the thirumazhisai plots must be unambiguously marked with fencing.
Many real estate developers are now offering much more in the form of a township with access to retail arcades, schools, children’s conveniences & after school activities etc.
Sometimes to offer many more amenities, builders are providing apartments and plots project in the same gate, so that the owner of the plots can also make use of the common amenities shared with the apartment owner.
Since plots or good parcels of residential lands are a diminishing resource in the face of a burgeoning population, it can be considered as a fast moving liquidable asset.
When we consider in the investment perspective, then there is no doubt that the plots will give you an assured return. Moreover, you can expect more returns when invested in a demanded plot.
Such as, the plots inside the city limits (CMDA plots) with the favour of excellent neighbourhood when regards to the infrastructure and industrial developments.
Whether you are buying a plot for investment purposes or to shortly build your home on it, in either way it will definitely give you more than you expect.
Eventually, plots do require lots of work to build a home, but finally you will achieve a home of your dream, which you can never regret in any of the time.
As said for investment, the impressive returns and the limited availability making it a matter of the utmost urgency to grab the last chance of buying the plot available in the city (CMDA plots).
Hence, consider investing in a gated community plot in the city area with a CMDA approval to secure your future with a reliable return.