{"id":206,"date":"2021-05-14T11:23:24","date_gmt":"2021-05-14T11:23:24","guid":{"rendered":"https:\/\/sterlingheights.in\/blog\/?p=206"},"modified":"2021-05-14T11:24:26","modified_gmt":"2021-05-14T11:24:26","slug":"pros-and-cons-of-buying-residential-plots-in-hyderabad","status":"publish","type":"post","link":"https:\/\/sterlingheights.in\/blog\/pros-and-cons-of-buying-residential-plots-in-hyderabad\/","title":{"rendered":"The Pros and Cons of Buying Residential Plots in Hyderabad"},"content":{"rendered":"\n
\"pros<\/figure>\n\n\n\n

After the arrival of the pandemic, people aspiring\nto buy residential properties are looking at things differently. With work from\nhome (WFH) becoming a norm at most workplaces, people who would have looked at buying residential plots<\/strong> in prime\nlocations of Hyderabad are now instead of looking to buy a plot on the\noutskirts of the city. <\/p>\n\n\n\n

This has led to an increased demand for residential plots<\/strong>, with some people\nopting to buy independent houses, unlike apartments in the past. Surveys\nconducted by leading real estate developers across India also point to the fact\nthat in metros like Hyderabad, Bengaluru, NCR, Pune, etc., more demand is being\nwitnessed for residential plots than say a few years ago.  <\/p>\n\n\n\n

Although these days purchasing a residential plot and getting it developed the way you want may look like an attractive proposition, you need to factor in some of the disadvantages that such a deal would entail.\u00a0\u00a0<\/p>\n\n\n\n

Let us look at the pros and cons of buying residential plots in Hyderabad\u00a0<\/strong><\/h2>\n\n\n\n

Scope for developing as per one\u2019s interests <\/strong><\/h3>\n\n\n\n

When you buy a plot, you can get it constructed the way you want. Such an option is not available in flats or apartments where all flats in a particular community are designed uniformly. In addition, the owner of a plot can plan the construction of a house depending on his personal finances.\u00a0<\/p>\n\n\n\n

Low risk<\/strong><\/h3>\n\n\n\n

When an individual buys a plot from a developer, that person is at a lower risk as it involves only a piece of land. But in the case of apartments, the developer has to deliver them as promised by him and the buyer requires getting several clearances and approvals.\u00a0<\/p>\n\n\n\n

Higher ROIs<\/strong><\/h3>\n\n\n\n

The prices of plots increase with the passage of time. In the case of apartments, the prices do not appreciate significantly. The buyers of plots, therefore, get higher returns on investments (ROIs). <\/strong>In fact, the prices of apartments, at times, depreciate when compared to their peak levels. More people opt to buy newly built apartments when compared to old ones. So, a flat owner cannot dispose of property at a high-profit margin.\u00a0\u00a0\u00a0\u00a0<\/p>\n\n\n\n

Fewer finance options\u00a0<\/strong><\/h3>\n\n\n\n

When you want to buy a plot, finance options are fewer. Even if the interest rates of land loans are on par with that of home loans, the loan to value (LTV) share is mostly lower, causing a buyer to spend more when buying a plot of land. Adhil Shetty, CEO, Bankbazaar.com is quoted by livemint.com as saying that the highest LTV for land loans is about 70% as compared to 90% for home loans. While home loans can be repaid in up to 30 years, the highest duration to repay a plot loan is 15 years, he added.\u00a0<\/p>\n\n\n\n

Tax is not deduced on land loans<\/strong><\/h3>\n\n\n\n

If you are planning to buy a residential plot in Hyderabad<\/strong> or any other city in India, tax is\nnot deduced. Even though tax deductions are applicable on loans borrowed for\nthe construction of a house, they can be availed only after it has been fully\nconstructed. <\/p>\n\n\n\n

So, if you have adequate financing options, it is\nbetter to opt for a plot. If not, you would be better off buying an apartment\nin a community. But you can always save money if you intend to buy a plot and\nget your own home constructed.    <\/p>\n\n\n\n

If you are interested in buying a plot<\/strong> to build your own home around Hyderabad, contact Sterling\nHeights<\/strong><\/a> through mail or giving them a call.  <\/p>\n","protected":false},"excerpt":{"rendered":"

After the arrival of the pandemic, people aspiring to buy residential properties are looking at things differently. With work from home (WFH) becoming a norm at most workplaces, people who… Read more »<\/a><\/p>\n","protected":false},"author":1,"featured_media":207,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-206","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment"],"_links":{"self":[{"href":"https:\/\/sterlingheights.in\/blog\/wp-json\/wp\/v2\/posts\/206","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sterlingheights.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sterlingheights.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sterlingheights.in\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sterlingheights.in\/blog\/wp-json\/wp\/v2\/comments?post=206"}],"version-history":[{"count":2,"href":"https:\/\/sterlingheights.in\/blog\/wp-json\/wp\/v2\/posts\/206\/revisions"}],"predecessor-version":[{"id":210,"href":"https:\/\/sterlingheights.in\/blog\/wp-json\/wp\/v2\/posts\/206\/revisions\/210"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sterlingheights.in\/blog\/wp-json\/wp\/v2\/media\/207"}],"wp:attachment":[{"href":"https:\/\/sterlingheights.in\/blog\/wp-json\/wp\/v2\/media?parent=206"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sterlingheights.in\/blog\/wp-json\/wp\/v2\/categories?post=206"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sterlingheights.in\/blog\/wp-json\/wp\/v2\/tags?post=206"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}