Indian real estate market is bound to grow and shows immense growth potential as envisaged by our policymakers. However, the investors have been in confusion for a long time over choosing to buy a flat or a plot of land, either they are investing or choosing for a home.
A lot of factors play a crucial role in the decision to choose between the two. One needs to look whether the choice to purchase a plot of land or flat is merely for investment purpose or permanent residence.
If the choice is for permanent residence and looking from the lifestyle needs, one needs to see which choice provides all the basic amenities and infrastructure facilities easily such as schools, markets, transportation etc. It is important to also understand if they intend to stay amidst the hustle bustle of the crowded city or in a peaceful location on the outskirts of the city.
The choice has to be made on the basis of the location’s proximity to the office. Buying a plot of land and making a house does not make sense if the office is very far and a lot of time will go in commuting to the office and coming back. Buying land will not be advisable in the heart of the city as they will be sold at a very high premium and mostly land will not be available.
Living in flats provide a secured residence and lots of people to mingle and make friends. The apartment community becomes a family in itself where every celebration and events are done together. Living in flat is also good for old and retired people.
They get to do a lot of things associated with the welfare of the resident community. Most of the flats provide a lot of facilities such as clubs houses, gyms, swimming pool and option for various other activities apart from the basic facilities within the compound itself. One need not go very far to avail such facilities.
A plot of land though desirable, will benefit if it is purchased for investment purpose owing to its high resale value as the land is very difficult to find in the current market scenario.
The resale value of the apartment will grow if the location is in high demand for residence else its value starts to stagnate after a given time frame.To know more visit www.propknack.com.