Investing in land or any other form of real estate has eternally been a widespread investment alternative in India. According to a report generated by Statista, the real estate sector had witnessed a 30 to 40 percent hike in the search for plots and residential property in India compared to the figures of the previous year when the country was going through the Covid pandemic.
The main reason behind this increased demand for investment in plots is because this is the kind of investment that initially requires a small amount and then provides you with massive returns on your investment later in life if invested in the prime location at the right time.
Benefits of investing in plots in India
Real estate is the only sector in India that revived itself in no time while COVID was going back & forth. It is further expecting some great tractions in the year 2021 in terms of property purchase and investment alternatives, right after when the Finance Minister provided some relief to this sector regarding purchasing properties and building a home.
The union budget for the year 2021 further 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.
According to the property experts, Prayagraj, Lucknow, Chandigarh, and Ludhiana are the 4 cities regarded as perfect for investing in India’s plots.
However, before investing in plots in these cities, you must evaluate all the essential factors that include the cost of the plot, the appreciation amount of the plot value, location of the plot, along properly assessing your income.
If you consider all these factors, your plot investment is sure to provide you with the amazing benefits mentioned below.
- Higher Flexibility
Investing in plots in India can provide you with higher flexibility in terms of building your home. If you do not want your home to be ordinary and do not wish to purchase ready move-in houses, then investing in plots can be the most suitable option. Investing in plots can provide you with the benefit of building your home as per your needs and specifications in a stipulated budget.
In addition to this, it has now become extremely easy for you to build a new home on your plot as the government is giving a tax exemption to all those people who take a loan for building their home and further granting them a deduction on loan interest as well under section 80EEA of the Income Tax Act.
- Higher Return on Investment
Another benefit of investing your money in plots in India is a higher return on your investments. If you invest in a plot situated in a prime location at the appropriate time, then it is sure to provide you with value upliftments in no time.
- Less Maintenance Cost
If you plan to invest in a house or an apartment, you will have to pay hefty amounts for its maintenance, which can become an additional financial burden. However, if you invest your money in purchasing a plot, you can curtail many maintenance expenses.
- Lower Rate of Investments
Another benefit of investing your money in plots is that you will always be required to invest a lower amount than investing in a residential apartment or ready move-in houses.
The Bottom Line
While it is the most lucrative time to invest your amount in plots across India, especially in Prayagraj, Lucknow, Chandigarh, and Ludhiana, you must always ensure that you purchase plots from a reliable real estate agent.
If you are looking for a leading real estate company that can assist you with plot investments, you must always rely on Omaxe Group. Omaxe Group holds great renown in the real estate sector, and they can further provide you with plots on prime location for investments at the most affordable rates.