While people still cherish the dream of buying a plot of land and building their own home on it, the apartment culture has surely taken over the residential market in the major cities of India, and that includes Patna as well. Keeping this shift in the real estate market in mind, builders have several projects to cater to the needs of different types of buyers. The Satyamev Group has Highway Residency, Bihta and Satyamev Heights for buyers looking for a plots and apartments, respectively.
If you are confused between buying a plot of land or apartment, here are few points that will help you arrive at a decision.
Buying an apartment requires lump-sum payment. This payment might require you to take a loan from bank and pay EMIs over a period of time. On the other hand, buying a plot requires that you have funds at your disposal to construct the house on the land you purchased. This can turn out to be more expensive compared to buying a flat of a similar size and dimension.
Scope of Resale
When you construct a home, you do it as per your preference and liking. This may not appeal to a potential buyer when you decide to sell it. The buyer might have to spend more in renovating the home according to his/her own taste. This can have an impact on the price of the property to a large extent. The apartments have no such disadvantage, as they constructed with a fixed structure which is part of the building, making it easier to sell them at the prevalent market prices.
Return on Investment
In case of independent houses, the value of the land continues to rise. The value of property build-up on land might appreciate as much as the land due to usage and depreciation. An apartment, when sold, fetches a strong profit and will have a bigger pool of buyers. Independent house owners, on the other hand, can make profits by constructing multiple floors on a plot, and renting them. In addition, plots purchased purely for investment purposes can yield healthy profits.
Analyze your financial capabilities and needs to determine which option you should out for. Further, if you are merely on the look – out for investment, then buying a plot of land would be wise. But if you want a ready-to-move home, then you should purchase an apartment.
Satyamev Group has kept the need of both the groups in mind, and has projects offering both plots and apartments. Satyamev Group’s Highway Residency township comprises plots of 1200, 900, 700 sq. ft. plots located near Bihta, while Satyamev Heights, its flagship project, provides well-amenitized apartments for a modern way of life.