Investing in real estate is the best investment decision you will ever make. It gets even better if you invest in land. While investing in land, you must understand the different types of lands to invest in Chennai before you actually purchase land. This blog will address this and why land is an excellent investment option. Read on!
Are you looking to make a real estate investment? Then the land is an amazing real estate investment avenue, whether you are looking to invest for professional or personal purposes. The real estate sector is one of the largest and major contributors to the Indian economy. It is also one of the safest and most secure investments there is. With the attractive returns on investment, real estate lets you build equity over time while generating steady cash flow and consistent income for you.
If you are looking to invest in land in Chennai, you have made the right choice! The city’s real estate market is booming, thanks to the commercial and residential demand generated due to the development across various industries, including corporate, IT, and automobile. This also makes
investing in land in Chennai a fruitful investment decision. The demand for this type of real estate is high, with low supply, making land a very valuable asset to invest in.
The land is more in vogue compared to apartments and other types of properties. Learn what makes land stand out from the other real estate types here.
This blog will discuss the different types of lands to invest in in Chennai. But before that, let us discuss why land is an attractive investment choice in the coming section.
What is the land? It is a piece of plain land that is put up for sale without any development of property on it. When a building is constructed on a plot of land, then it becomes a residential, commercial, or industrial property. Once the land is structurally developed, everything, including its value, changes.
Also known as the investor’s favourite, the land is, by far, one of the most sought-after real estate investment types. Investing in land is an excellent decision for various reasons. Let’s look at why land is a great investment option in this section. Read on!
These are a few reasons why investing in land is a great choice. With high demand and appreciation value, it offers investors and developers a lucrative investment avenue. When it comes to investing in land, there are different options you may want to explore. Let us discuss the different types of lands to invest in in Chennai.
Land investment is one of the most fruitful investments in real estate. The flexibility and appreciation that land brings with it, in addition to excellent returns, stands unmatched. Moreover, your initial investment while investing in land is extremely low compared to other developed properties. Therefore, if you have decided to invest in land, you have chosen right. However, let us discuss the different types of land to invest in for the best returns.
There are 5 different types of plots you can invest in –
1. Agricultural land
This is one of the most popular types of a plot to invest in India, by and large. India is an agricultural nation, with farming being the main source of employment across states. Agricultural lands are available in abundance in the country, with around 54% of the country’s land being agricultural. These lands are widely situated on the outskirts of developed metro cities. Sometimes, the government officially marks a few lands as agricultural land. This is why a Non-Agricultural (NA) order from the government is mandatory when purchasing any other type of land.
2. Residential land
Residential land is majorly used for residential purposes. These lands are mainly located within the cities, in their most developed areas. Residential lands can be bought to develop a residential property for personal use or to let it out on rent. Residential lands are most valuable if they are situated in good proximity to the city’s major hubs, including schools, colleges, hospitals, shopping centres, and entertainment hubs. People looking to invest in residential lands look for ones located in the prime residential areas of the city. Residential lands are also popularly called urban lands and are one of the most popular among the different types of plots.
3. Commercial land
This is another sought-after type among the different types of land to invest in. Commercial lands are those that are used exclusively for commercial purposes. Commercial lands are those on which commercial properties are built and used by businesses and industrialists. These lands are mainly peasants in prime commercial areas within the city and its outskirts. Commercial lands are more expensive to maintain compared to other land types, including residential. In addition to this, the loan term for commercial land is also lower (5 to 20 years) than residential land (25 to 30 years). With the rapid growth across various industries and several businesses booming, commercial lands are in great demand in Chennai today.
4. Investment land
Of the different types of lands, this is the most popular amongst investors. They are the most suitable assets for those who are patient and have money to spend on making investments. Investment lands are mostly prevalent in under- and undeveloped areas that have the scope of development in the future. This is why patience, time, and money are important to successfully invest in these investment lands. The value of investment lands is predicted to increase in the future and, therefore, make for a great investment option.
5. Recreational land
This is a unique kind of land to invest in. Recreation lands are lands that are meant solely for building properties that house sources of entertainment. These may be located in residential areas or on the city’s outskirts. Recreational lands can be used to develop properties, including children’s play areas, parks, swimming pools, playgrounds, picnic spots, amusement parks, and farmhouses. Recreational lands are predominantly government-owned, developed, maintained, and controlled. Very rarely is it available for investment purposes.
These are a few of the different types of lands to invest in Chennai. You need to align them to your investment goals and your financial standing. Once these are clearly defined and established, you need to look for a good plot developer.
If you are looking for a good real estate developer to invest in land with, then G Square is your destination. We are South India’s largest and Tamil Nadu’s no. 1 real estate developers with ample experience in sealing plot deals for established corporates and industrialists. We are sure we can guide you towards finding the right plots in prime areas across Chennai, Bangalore, and Coimbatore. For more details, get in touch with us here.