Which is the better investment – an open plot of a flat?
Whenever we plan to purchase a own house, this is the biggest challenge we face as to which one to choose, an open plot or a flat? We all are desperate to own a small nest amidst the chaos of life. A dwelling that we can call it as our own, and relax as soon as we come back from a hectic day. Whether we are a prospective buyer or an investor, we always tend to look for better investment opportunities with higher ROIs. This dilemma always haunts us where to invest the hard-earned money. Well, it is a point of debate, whether to invest in open plots or to invest in a flat with no hassles and running around for things, which makes it a rather easier option.
Flat vs. open plot
Let's take a look at some differences between flats and open plots before we make any decisions about where to spend our hard-earned cash.
• Higher ROI – Developers are creating multiple projects on the outskirts of the city with gated communities and open plot ventures to take advantage of the shrinking city land. These open plots offer the opportunity to invest and have a higher future ROI.
• Social security - We not only receive an individual villa but also the social safety of a whole community.
• Development is faster - These open-lot villa projects are being built near the ORR, and in areas with better connectivity to major markets. These areas are growing at a faster rate
• Proximity – Areas such as Financial District, Nanakramguda and IT suburb Serligampally are close to Sangareddy, which is home to major IT companies, and other multinational companies. This makes it a top choice for developers looking for investment opportunities.
• Value for money – It is better to invest the same amount into plots/land. Most finished products, including lite-constructed flats, lose their shine and value over time.
• Appreciation – Flat is like an asset that is declining in value, while an open plot/land is a valuable asset. Flat would have a lower selling price than plot/land, even if the price has appreciated.
• Flexibility: One can transform a residential plot into an apartment, house or flat, or even a house.
Investment in Flats:
With higher investments flat will be advantageous investment option which gives immediate returns either by savings from existing rental houses or additional income thru your let-out flats.
• Safety & Security - You will feel safe in your home and be close to other social creatures, who are only a few doors away. Flats offer many benefits and are easy to live in.
• Convenience - Flats are an easy way to invest. You can easily put the money in and then rent it out.
• Quick possession - You can take possession of your flat quickly after it is finished, and there are fewer hassles than buying an open plot. This is why buying a flat is a good idea.
• Paperwork hassles - To get the work done or to file the paperwork, one does not need to be present. The builder takes care of all of these things.
• All amenities at one go -All the basic amenities are included with your purchase, including basic furnishings and woodwork
But remember these conveniences comes at far higher price than owning a plot. Actually, you will make higher return on your investment, hence most of the population these days are preferring to investing on a piece of land around twin cities. Perhaps land is one of the resources which will reach scarcity with growing population in the coming days.
You need to be aware of the risks associated with owning a property, regardless of whether you are buying a flat or a plot. Understanding the differences between these types of property is essential. You will be able to reduce your risk and choose the property that you want. Do your research to find the right property for you and your family. A reputable real estate consultant can help you navigate the entire process of purchasing a property or flat. You should also check whether the property has been legally built so you can apply for a loan from the bank. While banks will lend you a flat loan, it can be difficult to get a loan for a plot.
Before investing in an open plot, here are some things to consider
• Real estate investing is a good investment, but there are many things to consider before you make a decision to invest. There is the initial capital requirement and then liquidating your Real Estate investments takes longer than other investments.
• These are just a few of the basic points to consider.
• What is the infrastructure of the area you plan to invest? Are you confident that the area will grow in the next 10 years?
• Accessibility to basic amenities: Schools, colleges and hospitals, playgrounds, connectivity
• There are many job opportunities within the 25-40 km radius. Existence of IT hubs and commercial areas within close proximity
• Are any other properties in high demand in your area?
• The credibility of the builder and clearance. To be certain, check all legal aspects.
• Past constructions were done by the builder, including whether they were on time and of high quality.
• What is the expected rental yield if you intend to rent it on the lease?
• You should check for documentation and documents such as HMDA approval, RERA certificate, DTCP registration
• What amenities will the developer provide?
Open plots are a long-term investment that will yield higher future returns. It comes with its own set of advantages. It can be a great way to increase your investment and build your dream home.
Bookmyplot Ventures has open plots that are HMDA, DTCT APPROVED, and RERA CERTIFIED. These plots are available for further development to create gated communities and villas. These developments will provide world-class infrastructure and amenities. There are many plots available in the tranquil areas of Sangareddy or Sadasivapet.
Bookmyplot Ventures gives you the opportunity to buy open plots in Hyderabad. These plots will soon become a new community far away from the hustle of the capital. Sadasivapet is located in Sangareddy's lush greenery. https://bookmyplot.in/ is close to many IT hubs and numerous industries. Bookmyplot Ventures are located close to the city. It offers a range of high-quality projects at an affordable price.
We wish you all the best with your investment! !
Bookmyplot Ventures - WE ARE HERE TO HELP YOU AND ENHANCE YOUR INVESTMENT EXPERIENCE IN OPEN PLOTS IN HYDERABAD
Reach out to us at: info@bookmyplot.in OR Call Us On +91 - 9853003377