You want to invest in real estate, but are confused. You don’t know whether to choose flats in Ban-galore or opt for plots in Bangalore near Devanahalli area. This is a common dilemma that most investors in real estate face. Both the options have their own set of advantages and disadvantages. Read on for more on the pros and cons of buying land or flats in the city.
Plotting to buy land?
Let’s first talk of buying land. There are definitely many advantages when it comes to buying plots in Bangalore near Devanahalli.
• One of the first advantages is the location. Devanahalli is where the international airport is lo-cated, and the area will see a lot of development in terms of good roads, malls, retail outlets etc. Your investment in plots here is bound to fetch you high returns. The Devanahalli area is where many IT firms and offices are coming up, so if you work somewhere in the vicinity, nothing like investing in a plot in the area.
• Another advantage of buying a plot rather than flats in Bangalore is that the former is cost-effective, and less expensive than buying an apartment.
• Buying a plot allows you the flexibility to get your home designed and built in the manner you choose.
• If you buy a plot as part of a larger project by a well-known developer or builder, i.e., if you buy a plotted development, you also gain access to many amenities that are part of the project, such as a swimming pool, clubhouse, parks, walkways, rainwater harvesting etc.
• There are not too many disadvantages to buying a plot, but you would need to invest in an area that fetches great returns. In case you intend building a home there, you would have to ensure that all the amenities and infrastructure are in place. If you invest in a poor neighbourhood or micro-market, the return on investment is bound to be low.
• There could be some limitations on the loans you can avail of from the land. When you buy one of the flats in Bangalore, access to home loans is easier and also the amount of funding is higher.
Having said that, there has been a lot of demand for plots in Bangalore near Devanahalli.
Buying a flat?
Buying flats also has its own set of advantages and disadvantages. One of the huge positives is that you have a ready-to-occupy home, without having to micromanage construction at various stages. Everything is taken care of by the developer and builder. There is a good return on investments in terms of rental income. Loans are easily available. On the flip side, you can’t plan your home like you would. Also, a flat’s value diminishes over time, and there is stagnancy. You also have no con-trol over the quality of construction.
Whether you are buying a plot or flat, it is best to carry out due diligence and opt for a developer who has a good reputation and credibility. If the developer has many projects across the city, and has developed past projects, their trustworthiness goes up a few notches.
Keywords: flats in Bangalore
By: Gaurav Nikalje
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