Without any doubt real estate is one of the most profitable and stable forms of investment. While residential properties have practically become synonymous with real estate investments, these are not the only alternative available.
Investing in land has always been a majorly popular alternative in India and the recent trends have revealed a massive hike in the demand for its swift appreciation value along with the flexibility offered by it. Buying a standalone plot refers to the sovereign option for constructing a house that is consistent with the exceptional taste and budget of an individual.
During the past two decades, Bangalore was seen as becoming the beating heart of the $200 billion tech industry in India. Where on one side South Bangalore is popular for its electronic industry, the North Bangalore became the back room of the western companies very soon.
North Bangalore which is popular as the outsourcing hub in the IT industry is now moving up the value chain with a large number of bonafide IT start-ups. As the next action in the IT boom is taking place in the outskirts of North Bangalore, the focus is now shifting on the workforce shifting to these locations.
Connectivity is not a major problem in Bangalore, it is just seamless, effortless, and abundant. When people are looking for residential properties, they first look for better connectivity apart from any other amenities that are associated with the real estate property.
If you are planning to invest in real estate, then given below are the reasons why you should consider purchasing a piece of land at the top of your list.
North Bangalore where the Prestige Marigold real estate property is coming up, is majorly popular for its scenic landscape and lush greenery. Prestige Group which is one of the majorly-renowned real estate developers is majorly renowned for creating this incredible property in plotted developments that are spread over more than 50 acres of land. The well-planned houses that serve a community with a feel along with modern apartments facilitate the perfect balance between nature and practicality. These still untapped locales are on the radar of home buyers these days who are looking for good opportunities the reason is that investments involved in these are very low and the returns from investment are higher.
When it comes to buying an apartment, most often homebuyers are constrained by the concept of the architect for the property. They are allowed only for making a few customizations to the property, and it is just out of the question to change the layout. In contrast, a plot of land is just like a blank canvas for designing and building your dream home. You must be liberal in designing and building your home according to your taste and preference. A house will last with you for your lifetime. Thus, you must be authorized with the power for designing it in such a way that reflects your lifestyle and personality.
The most amazing quality of making real estate investments is that they are bound for appreciating over a period while residential properties and land both have this thing in common, investing in a plot or piece of land serves you with an edge.
It is observed in recent years that a plot of land contrary to a residential property appreciates at a considerably higher rate. The value of a piece of land is also affected by the surrounding infrastructure. And the latter made improvements will inevitably enhance the value of the former.
Thus, the surrounding developments play an extremely necessary role in estimating the value of plots and facilitate much higher returns in a shorter span.
After the Covid-19 pandemic, with the world economy turning upside-down real estate is still considered a safer investment. While Bangalore facilitated around 9%-10% appreciation in ROI on real estate, North Bangalore, particularly in the Devanahalli region faced an appreciation of After the Covid-19 pandemic, with the world economy turning upside-down real estate is still considered a safer investment.
While Bangalore facilitated around 9%-10% appreciation in ROI on real estate, North Bangalore, particularly in the Devanahalli region faced an appreciation of more than 30% in the last year.
Meanwhile, some other locations have real estate residential property rates that are hovering around 9000 per sq. ft. - 10000 per sq. ft. In the case of Electronic City Phase 2, North Bangalore the real estate property rates are half its price. Since the location is still in the developing phase, the rates of the current real estate will remain attractive, but everybody is well aware that they will rise very rapidly.
It is particularly true when we take into consideration the concept of work from home, particularly in the IT sector that sees a hybrid work model in the future. This in turn will lead to an influx of IT professionals who are moving to North Bangalore in search of job opportunities.
The economy of North Bangalore has grown massively contrary to other well-established locations in Bangalore. Young IT professionals in their early 20s and 30s are in search of low-ticket size apartments that are closer to their workplace. It has resulted in enhanced interest in plots for instance Prestige Marigold.
North Bangalore is now home to rapidly-growing residential localities for instance Hebbal, Yelahanka, Devanahalli, and Hanner Road. The Prestige Marigold residential project situated in Bettenahalli is in the neighborhoods of places such as Devanahalli and Hebbal. The swift growth in urban areas is responsible for a rapid appreciation in the prices of real estate. The developing employment opportunities in the IT industry in the backdrop have made sure that the demand for amenities and properties remains bullish. The connectivity that was there before only in the form of bus services and railways is now looking up to the upcoming metro developments that will play a very crucial role in connecting the workforce in the north-south corridor of the city of Bangalore.
Whether you are desired to live in your newly purchased property or not, you will be required to pay for maintenance. Some of these payments are fixed, for instance, maintenance fees charged by housing societies and some are incidental, e.g. electrical issues, renovations, plumbing problems, and so forth. But, there is necessarily no upkeep cost with the parcel of land. The maximum cost that a person might be required to pay out would be for fencing and mowing the area. Therefore, plots are much more affordable for maintaining when these are compared with apartments. Even the most sedentary investor might own land and would not be required to bother about regular maintenance.
Property tax is a kind of recurring expense that property owners are required to pay regardless of whether they are possessing a plot of land or residential property. The property tax is substantially lower in the case of land on contrary for a house. So, from the point of view of investing, you will not only be saving money by investing in a plot of land, but in the long run, you will be paying taxes.
While investing in real estate property that is still under construction, homebuyers are required to wait until it is finished before taking its ownership. The handover might take a year or even a longer period which is dependent upon the building stage of the project. But, there is almost no probability of delay with a parcel of land. Therefore, investors might almost instantly take the control of their new assets. It is undeniably one of the safest decisions to invest in a plot of land for those people who are looking for higher returns with minimal risk. Additionally, when it is compared with a solitary site, gated communities facilitate better amenities. Furthermore, when you are indulged in building a house on your own, there would be the requirement of a huge amount of time and effort. It might save a massive amount of money contrary to purchasing a plotted development from a builder.
The Prestige Marigold project is a futuristic project built by the Prestige group keeping in mind the shift of the industrial, government SEZ, and expanding IT industry along with the new kid on the block, the Startups. North Bangalore will be the new Destination. The international airport here means the first entry to Bangalore will be at this location only. The massive job infrastructure being built here with new Tech Parks, SEZ’s, financial hub means the existing Bangalore workforce is shifting to North Bangalore along with massive migrants from other parts of the country for job opportunities.