Post-pandemic, many households now prefer to live in plotted developments rather than apartments.
Plotted developments are witnessing a rising demand in the National Capital Region, especially in Gurugram. They have emerged as the most preferred and strategic form of real estate investment model for property investors and buyers. The post-pandemic renaissance in real estate demand has worked well with plotted developments as they have witnessed a peak in interest from both developers and buyers.
Buying a home to live in is an antiquated belief system. Nowadays, homebuyers are looking at multiple factors before making an investment. Henceforth, home buying has become a ‘home investment’. The most crucial factor that has turbocharged investments in plotted developments is that it is low-on-investment expenditure but high on future returns. Plotted developments give freedom to buyers to construct and shape their residences according to their wishes. The end-users become the architects of their dream homes if they invest in plotted developments. At the same time, plotted developments also offer holistic recreational ecosystems offering facilities like Community Centre, Open Gym, Meditation Area, Fragrance Garden, Reflexology Park, Cricket Pitch, Commercial Plaza etc., which are all present in high-rise residential developments.
A recent real estate report highlighted that key micro-markets in many cities in India, including Gurugram, have registered a sharp double-digit growth in residential plot prices, especially after 2018. It has seen a sharp uptick in certain residential localities of New Gurugram as well. The euphoric rise of plotted developments can be considered the pandemic’s silver lining. Real estate buyers have shown a sparkling inclination to choose flexibility, community habitat, and the far-fetched approach to maximise future financial solidarity, which is all delineating them towards investing in plotted developments. It is ascribed as a fruitful capital investment with lower budget demarcations.
Nayan Raheja of Raheja Developers said, “Plotted developments are underscoring the demand wave that will shape the next chapter of real estate growth in Gurugram. It is no secret that plotted developments are flourishing in Gurugram real estate markets, especially those located near Dwarka Expressway. The plotted developments in its vicinity have seen a price appreciation of close to 30%. They offer future security, sustenance, monetary consolidation, and land ownership clout. Many investors are selling their apartments to invest in plotted developments, as they want to enjoy the recreational facilities while also having the freedom to build their own homes, which is possible in plotted developments.”
Plotted developments are refined and advanced residential plots offering a vortex of external-use amenities. Basically, investing in plotted developments means the end-users enjoy similar or improved facilities that they enjoy in high-rise apartments. But at the same time, they also get the independence to design and build their homes and use them for different purposes, side hustles, passive income, wealth accumulation or reserve it for future generations.
Rajjath Goel, Managing Director, MRG Group, said, “Plotted developments have become an ideal investment run for property buyers with an entrepreneurial mindset. Buyers do not invest in property just for living objectives, but they are asset-oriented people who invest from the standpoint of profit maximisation. Plotted developments can be used for multiple resource-generation purposes and income-enhancement ventures. At a time of inflation when one job cannot make two ends meet, plotted developments are being looked at as productive real estate investment types. Profit expansion options double up when potential buyers choose to invest in plotted developments.”
Anshuman Sharma, President-Sales & Marketing, Navraj Group, commented, “The end-user base for plotted developments is constantly expanding. It is not only an investment avenue for traditional businessmen, corporates, and wealthy and influential families. Start-up founders, new-age investors, well-off working sections, and entrepreneurs are also creating the demand hype for plotted developments. Faster deliveries and flexibility options are raking up end-user popularity. There is a promising growth for plotted developments for now and the future as well.”
Source : FE