Real estate investments have been popular for decades worldwide, including in India. This article underlines the growth of India’s real estate sector. It further talks about the many advantages of investing in a plot of land.
India’s real estate sector is rapidly growing and developing. This sector is predicted to grow from US$ 200 billion in 2021 to US$ 1 trillion in 2030, likely making up 13% of the nation’s GDP by 2025. Many factors drive this growth, including rapid urbanisation and rising household income. Owing to its high return on investment (ROI) value, many people choose to invest in the Indian real estate market. People can now buy affordable land for sale in Pallavaram, Thirumazhisai, Porur, Tambaram, and many flourishing areas and enjoy commendable capital appreciation from it down the line.
Financial security
Unlike many other types of assets, the value of properties, including plots of land, tends to always go higher in the future than the current price, as long as it is located in a well-developed and connected area. The property prices in Indian metros like Chennai, Mumbai and Bangalore especially keep climbing up, providing investors with improved financial security. In fact, many investors consider property investment as a suitable hedge against inflation. Historically, property price appreciation and annual rental yield have outperformed inflation. Stock prices may go down in the market for multiple reasons, but it is not likely for property prices to go down significantly.
Affordability
The cost of residential plots is much lower than that of residential apartments. Hence, it can be an affordable investment option for first-time investors and property buyers with a stringent budget. The maintenance and tax-related expenses associated with plots are also less than those associated with apartments or villas. People who want to have a house of their own but do not have enough funds to buy a spacious enough apartment for their whole family at their desired location may choose to invest in a plot there now and accumulate money over time to construct a home on it.
Hassle-free investment
If one purchases a house, they would need water, corporation, building approvals, and more. On the other hand, getting legal approvals for plots is comparatively much easier and less complicated.
High flexibility
Choosing to invest in plots can provide people with higher flexibility in terms of building their own homes. Apartments and villas available for sale are designed per the architect’s vision and the developer’s specifications. However, plots allow people to design and construct a house that specifically meets their needs. Someone with a joint family may need multiple rooms at their home, while a person with young kids may desire to leave enough outdoor space for their children to play. Such customisations can be easily done after buying a plot.
No matter whether you simply want to build a house of your dreams for your whole family or are an investor wanting to diversify your portfolio, investing in a plot of land can be quite a wise decision. You can explore the web to find available land for sale in Redhills, Thirumazhisai, Porur, Tambaram and other developing areas to make your investment. Many renowned real estate companies offer plots in these parts of Chennai.
