With the world adjusting to a post-pandemic world, owning your very own residence is now a necessity. One can no longer rely on the uncertainties presented by rented accommodation. Recent studies have shown that home buyers are looking for investing in residential NA plots to build their dream homes at leisure.
One of the largest trends that has emerged in the new normal is buying a NA plot in a township away from city limits. During the forced work-from-home reality of the pandemic, home buyers have realised the importance of investing in a place that can provide them with ample space, luxury amenities, accommodating an office set-up, proximity to nature, and much more.
Investors have also realised the importance of owning an NA Plot as an asset class in their investment plans for the long-term returns it offers. This asset class ensures financial security whereas the losses in this investment are almost rare.
There are various benefits of investing in an NA plot. These include:
- Low Investment Rate
Buying a house in the current economy can be a risky and costly affair. Instead, you can purchase a residential plot now, and build a home later. As NA plots can be purchased at a much cheaper rate than a built house, you can start investing in your dream home even on a lower budget. Also, there is no maintenance cost for plots, as opposed to the property tax and other costs of maintaining an apartment or a villa you have recently purchased but haven’t moved into yet.
- Higher appreciation
Investing in a residential plot gives you a firm foothold in real estate investments. Given the lesser availability of land, the appreciation of the investment is only going to rise in the future.
- Scarcity of Asset Class
Residential plots in premium plotted developments have quickly become sought-after choice for both home buyers and real estate investors. Some of the major reasons behind this shift are: land is an appreciating asset class, a growing demand for open spaces and low-density projects, and immediate high appreciation because scarcity of land ensures that its value never decreases.
- Flexibility of Plans
Whether you plan to build a house according to your taste, style, and needs, and move in immediately afterwards, or build a home at your leisure and then sell it later for a much higher price, investing in an NA plot now gives you the opportunity to work on a long-term plan for your future.
- Fewer Responsibilities
Purchasing and selling of NA plots is a very transparent transaction and can be done by anybody. Also, one can easily invest in a favourable plot in desired locality within a small budget. The legal procedures and paperwork are also hassle-free and require little to no extra effort from the investor’s side.
List of Documents Needed While Investing in an NA Plot
- Title deed
- Release certificate
- Encumbrance certificate
- Property tax receipts
- Local approval
When you buy a residential plot through an established developer in a gated community, the risk of fraudulent transaction is rare with the developer taking care of the aforementioned documents for you. Developers of gated communities also offer a lot of amenities such as parks, club houses, convenience stores, play areas, swimming pools and so on. apart from the flexibility of building spacious homes at a later stage or retaining them as plots.
With an emerging need in the new normal for a low density living while being able to maintain necessary social distancing measures, independent homes built of NA plots are a rising demand.