March 10, 2017: Building a home from brick to brick and having the sovereign choice of the floor plan is a dream that many of us harbor but only a few accomplish.
Apart from constructing a house, a plot of land is a great investment. There are many who like to invest in land instead of a flat and argue that buying a flat is high maintenance and does not give good returns on investments when compared to a plot for sale in Chennai.
It is generally the second home buyer or investor who invests in land or a plot for sale in Chennai or any other flourishing city. Investment in both land and apartment has its own merits and demerits.
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The few important merits of investing in a plot of land are:
But, there are some demerits to investing in a plot.
The key to a good investment is research and complete knowledge about the investment. Some of the things to keep in mind before buying a property are:
In the recent times, the southern state of Chennai has emerged as one of the top destinations for investing in land/ plot. Chennai is more appealing than other metros of the country, as it is a rapidly expanding manufacturing hub of India.
The state houses manufacturing units of top carmakers, as well as, other industries like IT industries, Telecom, etc. All these establishments are creating a big investment opportunity in the city with high growth and shooting prices.
The ideal destinations for investment in the city include:
The land prices in these areas range between INR 500-2,500 per sq ft. The buyers have a variety of options to choose what can fit their budget.
In a city whose demographic is changing constantly with apartments becoming the norm rather than the exception, a plot as a mode of investment is becoming highly lucrative. The severe space crunch in the city has resulted in land prices going through the roof, sending plot developers and buyers scout for land on the outskirts. It has resulted in a spurt of real estate development in these localities.