At present, there are many investment options available which makes it quite confusing to choose the safest investment options with high returns. In such cases, if you are looking for a safe and steady return on investment, investing in land in Chennai is the best option for you. Search for property developers in Chennai as they will be able to provide you with the current state of property investment in the market.
If you are still on the fence about the decision of investing in land, here are some reasons to help you invest in property in Chennai:
Depleting resources
Just like all other metro cities, Chennai has seen steady growth in population over the years. Hence, the growing population is in need of land and housing opportunities. This is leading to an expansion of the city in all directions and new land is being acquired to build homes for people. The Chennai Metropolitan Development Authority (CMDA) is responsible for the governance of the core area of Chennai whereas the Directorate of Town and Country Planning (DTCP) is responsible for the lands lying on the outskirts of Chennai. If you choose to consult with property developers in Chennai, you will find many investment opportunities like buying plots in Tambaram.
However, when choosing land in Chennai, remember that the plots under CMDA are more expensive in comparison to land under DTCP.
Location
Land in Tambaram as said by property developers in Chennai is an extremely good investment opportunity. This is mainly due to the increase in investment opportunities in Chennai and the presence of IT hubs driving the growth of jobs.
Let’s take an example of an empty place in a city. It might have less value at present. But with rapid development in infrastructure and industry, the value of land doubles in a few years. Hence, right now is a great time to invest in plots as you will have amazing chances of returns on investment.
So location is one of the most important factors when it comes to considering an investment in plots.
Appreciation
The land is a finite resource and hence, scarcity of land is very obvious in countries like India where overpopulation is a major concern. So with the scarcity of land, the demand for plots of land is increasing. Hence if you invest in a CMDA land within the Chennai limit, the returns will be higher owing to appreciation.
In fact, the value of gold has not been able to match up with the appreciation rate of land.
Flexibility
Investing in a plot of land gives you a lot of leverage in terms of flexibility. If you are investing your money in an apartment or a house, there are not many changes you can do in terms of the structural aspects of the property. But a plot of land on the other hand is like a blank slate. You can choose to build your own house and live there. Or you can choose to sell it to any individual buyer or corporates and get good returns. The freedom lies with you when you invest in plots- you decide what you want to do with them.
Plots in a gated community
Do you know what is better than just a piece of land in your name? A plot of land in your name which is a part of a Gated Community. Yes, a Gated Community is simply worthy of its name. This plot you invest in will be present in a well-fenced and protected community and in a secured location. By choosing to buy your plot within a gated community, you also eliminate the chances of illegal encroachments and increase its face value.
Availability of developed amenities
When it comes to plots, there are a few minimum markers that segregate a good piece of land from those that have lesser ROI. A quality plot will have good access to the city and easy road access to a gated community. Additionally, internal roads that are structurally sound, and have electricity and underground drainage must be available before the handover to the investor takes place. Hence, ensure that your developer checks all these boxes before handing them over to the buyer.
Reputed real estate developers are also going the extra mile and offering so much more in the form of townships that have access to various retail stores, schools, healthcare centres, etc.
Low property tax
In India, property tax needs to be paid by every individual who owns a house or land. But did you know that the rate of land tax is significantly lesser than that of tax on houses and apartments? So investing in plots is definitely a better and smarter choice in comparison to any other kind of property.
No maintenance
Unlike houses and apartments, which require a substantial amount of money to maintain in order to reap the benefits of ROI, lands are low maintenance. Moreover, when you buy land within a gated community, there is no need to maintain it at all. You simply need to visit the place once in a while and keep the place neat and tidy.
Low investment
When it comes to investing in real estate, investing in plots will require lesser investment and greater ROI. Whenever you buy an apartment, you invest a significant amount in just the purchase and then pay more money in maintaining it. This can be avoided when you are investing inland.
To Conclude,
Investing in real estate is a big decision. We hope this blog gives you powerful insights into investment in the real estate sector.
