Plots are becoming popular among homebuyers in the post Covid scenario due to a slew of reasons. Read on to know more…
In the the recent pandemic circumstances, plots have become extremely popular among homebuyers. The luxury that plotted developments offer is unmatched. The land is a luxury, and hence the demand fur the plotted developments is increasing. If developed by reputed developers, The these colonies offer the best of amenities apart from the usual flexibility that such abodes offer. Such plotted colonies offer apartments, retail shops, studio apartments, themed villas, and a lot more. Pradeep Aggarwal, founder and chairman, Signature Global Group and chairman, ASSOCHAM National Council on Real Estate, Housing and Urban Development, says, ‘Plots have always been the first choice of the buyers in India. The demand has increased, especially after the Cavid-19. The main reason behind the popularity of plotted developments is the flexibility that it offers and the high appreciation it promises immediately as the value of land never decreases.”
Seeing the demand reputed developers are coming up with plotted development projects that are promising a lavish lifestyle to the owners. Manoj Gaur; CMD, Gaurs Group and vice president, North, CREDAI National, says, ‘The scope of plotted developments in NCR is enormous as the area has a well-planned highway with flyovers and a proposed metro that will further enhance the connectivity’ With low mortgage rates, competitive pricing by developers, lucrative payment plans and reduction in stamp duty charges in specific places real estate is all set for a rebound. Among the multiple choices consumers have, plotted colonies have been particularly popular due to the following reasons:
Privacy/Security: Given the sentiment in the current pandemic, having an exclusive property would reduce common touch-points and thereby enable a sense of security within the owners.
Tailored nihilism: The designing of the house can be tailored to completely suit your style or taste.
Higher appreciation: Plotted developments generally yield higher returns as opposed to investments in apartments over a long run.
Value for money investment: In most cases plotted developments would give the consumer more area for the money spent and therefore per square feet rate would be significantly lower making it a value proposition.
Minimal maintenance cost: In the current scenario people have become cost conscious given the overall sentiments. The maintenance cost of a plotted house is minuscule as compared to an apartment in a condominium.
Pankaj Bansal, director M3M Group, says, “Plotted commercial developments such as shops-cum-offices (SCOs) are ideal development for offices, banks, retail spaces, cloud kitchens. These SCOs have had an enviable track record of good customer footfall and lucrative investment returns in many parts of India NCR. Haryana Government’s New Commercial Plotted Colony Policy has also helped in streamlining the segment.”
Karan Kumar, chief marketing officer, DLF Ltd, concludes, “Despite the proliferation of ready-to-move-in properties, platted developments continue remain an attractive investment option due to lower investment cost, via- vis ready-to-move properties. Plots/plotted developments offer high returns that are further enhanced by strategic location, excellent connectivity and the possibility of be distribution of costs over time.”