Be it an investment or a genuine purchase, the consumer is almost always very selective about the plot they would like to purchase. Most of us perhaps already know what sort of plots are good ones for investment as well as to build our houses on, and which ones are not. There are, however, people – mostly genuine customers looking for a piece of land to build their home– who neglect the factors that make an apparently fine plot a less valuable one.
Let us have a look at plots that are a significant investment within a housing society and the circumstances that determine why these plots are more expensive and have a better potential to gain value in the near future.
Corner Plots
A plot situated on the corner of a street could sometimes have an additional area over the regular plot size in a housing society. Corner houses can have two garages and entrances. In private housing schemes, the price of a corner plot is always higher, ten percent more expensive on average, to be specific. While investors are always looking after corner plots, and there are multiple reasons for that, I think genuine buyers should keep in mind that a corner plot can sometimes take away from your comfort and privacy.
Park-Facing Plots
Beautiful green and landscaped views on the front, and the fact that there will never be any structure facing your house, plots facing parks are more costly. In housing projects that cannot reach the secondary market, the sale price of plots facing parks is usually set ten percent to fifteen percent higher. Though some people are of the view that a house in front of a park will see more than the frequent amount of foot and vehicular traffic, the view of a beautiful green space full of flowers right in front of your house is undoubtedly something worth the extra cost.
Plots Situated on Main Roads
Be they in the primary market or the secondary market, plots located on the main road and wider lanes are always more costly. Their rates vary from project to project, and from developer to developer, the price difference is usually ten percent. Main roads and wider lanes offer extra, though temporary, plenty of parking space outside the house and make turning the car around more comfortable.
Plots Situated Near the Commercial Area
Having your house right in front of a busy commercial area is some sort of a bad investment, but one situated closer to it is not. One of the benefits of the commercial area is that it is within walking distance from the nearest market which saves you a lot of fuel costs and hassle, which is why plots located around the commercial facilities usually are more desirable and thus more expensive.
Approach & Accessibility
One of the most significant factors for good location residential plots is how easily accessible and approachable your plot is. Remember, you are going to build a house on your plot tomorrow, and your family members, guests, and relatives are going to visit you here. So just think about it, will you be struggling in the future to guide them on how to reach your house or is it as easy as A, B, C? The best approach is usually 2 to 3 turns after the main road as there is a lot of traffic on the direct approach from the main road and generally not advisable.
When considering accessibility and approaches, it is not just about your plot but also the general location of the society. You must take into consideration the approaches to society and how it connects to other societies and happening places in your city.