Buy 2500 sq ft plot in Balianta. We are selling this 2050 sq ft plot for immediate possession. This area is suitable for 3 BHK and 4 BHK homes. If you need any extra space like a balcony, extra room, and a bigger hall. It is additionally conceivable around here.
It is an open plot. BJB High School is 750 meters away from the area, while Prannath Autonomous College is 3 km away. The site is near Khordha Town Hall. There is an attraction near this place called Barunei Hill Top Tower, as well as a Maa Barunei Temple about 4.3 km away.
We are selling different sizes of plots. It totally depends on you. What size plot do you need? So choose the size of the land and build a beautiful house for your family. Bhubaneswar is one of the best cities in Odisha. It is an extremely well-known city in India.
Difference Between Plot or Flat
Investing in plots or land means building a house as per your requirements and accepted layout, a flat is a multi-story construction with no freedom to change the construction layout and size.
In a plotted development, you are responsible for the construction and security of the manufactured home, whereas, in an apartment, there is the advantage of security, space, and access.
So which is the better option – plot or flat?
Attempt
While buying a plot, one has to plan the construction on the approved layout and hire an architect or contractor to execute it. Apart from supervising construction, arranging the finance, and dealing with local bodies and contractors, it involves a lot of work on the smallest of things.
But, when you buy an apartment, the developer is in charge and gives possession on completion of the flat. One has to worry only about the decor of the house, not the actual construction.
Apart from this, a flat comes with basic amenities like power back-up, water, maintenance and security and some additional facilities like clubhouse, swimming pool, etc.
If you decide to buy a plot and build a house on it, you will definitely have to make all the arrangements yourself. This makes purchasing a level a decent recommendation.
Delivery
Though it may take a few months or even years to get possession of an apartment, plots are usually ready for possession. If the plot of your choice is part of the township, you are likely to get possession of the plot before the flat.
Return
Experts say that plots appreciate faster than apartments. The main reason for this is the low supply of plots in the market. As is the case with apartments, age does not affect your investment in plots. Appreciation depends on location and proximity to large infrastructure projects Also, during stable market conditions, the price of the plot tends to increase over time.
If you are looking for regular produce, it would be useful to go for a property like commercial, office, retail, etc. If you want to use it as a store of value, it boils down to your approach. If you have a long-term outlook, it is worth considering buying a piece of land, for the short term, go for a relatively small apartment unit, says Kalyan Chakraborty, managing director of Red Fort Capital.
The location, the surrounding infrastructure, and the quality of the neighborhood drive up the value of the apartments, as they do for the plots as well.
Tax
Tax treatment is different for plot and flat. When you take a home loan to buy an apartment or a builder’s floor, the monthly loan repayment allows you to save on tax.
You can likewise benefit from a derivation of up to Rs 1.5 lakh in a monetary year for the interest you have paid on the advance. Also, a deduction of Rs 1 lakh can be claimed on the repayment of principal. In case of plots, tax deduction on interest is allowed from the time the construction is completed,” says Kunj Kaushal, a chartered accountant based in Delhi.
Income
If earning regular rental income is on your mind, then you should invest in a built-up flat. Whenever you want, you can be given an apartment on rent to get some income, which is not possible in the case of plots.
There is no income from plots unless you build on them. “Today’s market is driven by end-users. A Thinkstock project located in a developing area or in a gated community, approved by local authorities, is a safe and profitable investment.
Fund
A buyer can raise finance to buy a plot of land, but there are certain conditions.
You can get a loan to buy a residential plot only if the land has been approved by the local authority. We allow 80% Loan-to-Value (LTV) but in the case of resale land, only 50% of LTV is allowed.
Leave a Reply