The Major Advantages of Opting To Invest In Residential Plots

Real estate investments have always been popular in India. However, when making such an investment, people face confusion in selecting the ideal property option. They get the choice to either invest in a plot or an already constructed building. On the whole, both of the options have their advantages.

 

The biggest attraction to invest in residential plots is their high reselling value compared to ready-to-occupy properties. If you plan to invest in real estate for better financial security, residential plots will be the perfect option for you.

Choosing to invest in plots in Thirumazhisai, Teynampet, Adyar, Tambaram, Nungambakkam in Chennai can be a gainful move, owing to the increasing popularity of this state as a residential destination. You can easily invest in a plot in any of these localities at an affordable rate now. You can resell the plot for higher value or build your home there in the later years. 

Here are some of the prime advantages of investing in residential plots:

• Financial security: While the value of shares or mutual funds may fall due to varying reasons in the market, it is highly unlikely for the rates of a property to go down. The value of plots is likely to always go higher in the future than the current price. The property prices in Indian metros like Chennai, Delhi, Bangalore, and Mumbai are rising consistently, providing the investors with superior financial security. You can enjoy good returns to your investment if you buy a plot situated in a prime location at the appropriate time.
• Budget-friendly: Mostly, the cost of residential plots is much lower in comparison to residential apartments. Hence, it can be an affordable and clever capital investment for people with a lower budget. Investing in a flat or villa in major cities like Chennai and Mumbai requires an investment of a higher amount. Investing in a residential plot tends to be a more feasible option for people. They may even build their own house on the land by accumulating funds over time.
• Hassle-free: When buying a house, you would need water arrangements, corporation, building approvals, and more. Getting legal approvals for plots is comparatively much easier and less complicated.

• Higher flexibility: Investing in plots can provide you with higher flexibility of building your own home. You can build the house of your dreams, based on the needs of your family, on the self-owned plot while staying within the stipulated budget. 

 

The union budget of 2021 announced a tax exemption of Rs 1.5 lakhs under section 80-IBA of the Income Tax Act for all the people who wish to build a home on their self-owned plots, which further boosts the appeal of making plot investments. Owing to the commendable socio-economic infrastructure of Chennai, it can especially be an ideal destination to invest in plots. You can find the details about residential plots in thirumazhisai Teynampet, Adyar, Tambaram, and nearby regions online. 

Author bio: The writer of this article is an eminent realtor working in South India.  He has over a decade of experience in this field. Writing and blogging are his very favourite hobbies, through which he intends to share his valuable knowledge with his readers.