Plotted developments have emerged as one of the most preferred real estate investments over the past few years, and have witnessed tremendous response from buyers due to the benefits that come along. The government has also been sensitive to the fact that buyers wish to invest in segments that hold more benefits for them, rolling out numerous norms and policies that enhance their investment. Plots have been a better choice than any other establishment, and they are even more promising in realty hotspots of the country that promise better returns on investment.
Different governments have distinct policies for the sale of plots or their further development. The Haryana government, following DDJAY (Deen Dayal Jan Awas Yojana), has one of the most favourable terms that attract more and more investors to the region. Buyers are provided with the facility of buying properties across various verticals as per government’s norms and hassle-free support. They can conveniently access loans or financial support from registered sources to invest in such plots.
“The government has been extremely supportive in promoting plotted developments, especially through DDJAY. Its decision to occupy the frozen 50% of the DDJAY plots’ land would bring huge benefits to the affordable housing industry. These plots can now be used for other construction projects that meet the everyday demands of potential buyers in a specific location and increase demand for the services in the neighbourhood. As a result, buyers will be drawn to these areas to host big initiatives that improve their quality of life, which will benefit real estate developers,” said Nayan Raheja of Raheja Developers.
Only investments in strategically located land or pieces of land have resulted in the fastest wealth creation. Gurugram’s real estate has become one of the preferred zones for such investments, particularly its sites in the New Gurgaon area, such as the Dwarka Expressway and Sohna. Plot investments have historically been regarded as the best real estate asset type due to their higher rate of appreciation and return on investment. After the six-lane elevated corridor from Rajiv Chowk to the New Gurgaon has become operational, its strategic location along the Expressway and Sohna offers tremendous capital appreciation for investors.
“Plots have always been a prestigious possession, and DDJAY has definitely made it an accessible one. Customers have benefitted along with the scheme, bringing profits to both developers and buyers. In a region quickly connected to significant corridors like Dwarka Expressway, Sohna, Delhi, etc., investment is far more profitable and promises better returns in the longer run. The Haryana government’s decision has been a very good answer to the current situation. Due to the availability of more amenities nearby, this would enable buyers to possess spectacular residences in the registered area”, said Sanjeev Arora, .
Ashwani Kumar, Pyramid Infratech, said, “Real estate developers are facing a boom in the sale of affordable housing in areas that are not only well connected to significant spots but also host good investment opportunities. DDJAY is a boon for those who wish to own properties in regions flooded with amenities. The scheme not only enables them a convenient way to undergo the legal procedure but also invites investors from every nook and corner of the vicinity. The latest decision of utilising the frozen units is another measure to enhance the overall availability of projects.”
Statesmen and landlords were once the conventional and regular purchasers of plots, but today, big-shot businesspeople, financiers, start-up founders, and highly compensated corporate employees are making significant investments in plots. These individuals have the luxury of creating a way of life that suits their preferences. In many cases, purchasing land and constructing homes there seems to be a more reasonable and sensible financial option than purchasing pre-built residences.
Source : FE