In the wake of a large number of housing projects getting stalled or facing long delays, both end-users and investors are today shying away from under-construction flats. It isn’t just the development risk, but also the high transaction cost (12 per cent GST on under-construction property) that has been a deterrent.
In such a scenario, both developers and buyers are increasingly veering towards plots and plotted developments.
What’s on offer?
- Plots are a win-win for both developers and buyers. While developers are able to do brisk sales and generate the much needed revenue and buyers have the advantage of low risk and keeping their investment safe.
- Even rich investors are shying away from investment in luxury homes and are considering low risk investment options that have a better chance of appreciation.
- According to Cushman and Wakefield, multiple township projects are available in NCR region – both in Noida and Greater Noida.
- Investment advisors suggest to look for plots in gated community instead of standalone ones.
- It is also suggested that it is safe to invest in plots pre-approved by public or reputed private bank to minimize risk.
- It is advisable to opt for location that is well connected to highways and are close to commercial centers of the city.
- It is right time to invest in plots now as buyers would have a relatively long investment horizon.
Source: Business Standard