Looking for an investment opportunity? In this blog, we have discussed some benefits of buying residential plots in Kolkata.
Flexibility-
A plot has greater flexibility compared to flats/apartments in terms of construction. The flat is already built and you cannot make changes, you can customize only the interior part. In short customization or expansion are limited in case of flats. On the other hand, residential plots in Kolkata offer you flexibility in construction and you can build a house on your own terms and conditions.
Appreciation Cost is higher-
The land is a finite resource, due to this the appreciation cost of a plot is much more than flats/apartments. However, the cost may vary according to the surroundings and amenities near that plot.
Rental income-
Plots are not good in terms of rental income and have a higher risk of litigation. Flats are good in terms of rental incomes. A flat in a prime location would fetch you more returns than a flat that is isolated from the residential societies.
Higher Risk-
Buying risk is higher in plots plus the chances of illegal possession are higher. On the other hand, a flat has a lower risk. Also getting financial help for buying a flat is easy but difficult in case of plot. The banks avoid giving loans for buying residential plots in Kolkata.
Possession-
There is no delay in possession if you buy a plot, one can acquire the plot as soon as the payment is made. On the other hand, it may take some months or years to get possession of a flat. Hence you will get possession of the plot earlier than a flat.
Conclusion-
Both flat and plot and have their own advantages and disadvantages. You should buy one which suits your needs, desires, and budget. Residential plots in Kolkata is a good option if you are looking for investing provided that it should be located in a prime location since the appreciation cost of a plot is higher and will fetch you more returns. And if investing is not your concern then flat is also a good option.
Property Site India 