“A piece of land, is indeed one of the greatest Investment in the world on can ever put their money in”
Post pandemic, the demand for apartments, both low rise and high rise due to amenities and appreciation forecast has skyrocketed with their demand. But in a recently published article by money control, have stated some interesting facts observing some reports through prestigious real estate sites such as magic tricks, prop tigers etc. which has evidently proved that plots and independent floors are finally back in the game of property Investment all over India.
During the epidemic, the demand for plots and separate floors outstripped the need for flats.
According to data conducted by REA India, which owns full stack digital real estate portal Housing.com, residential plot prices have grown at a compound annual growth rate (CAGR) of 7% across eight major cities since 2015, while apartment rates have grown at a CAGR of 2%.
"Plots and individual floors are once again in high demand. Developers are responding to the increased demand by constructing similar complexes on the periphery of major cities "According to Aggarwal.
People prefer to buy flats over plots in eight metropolitan areas: Delhi-NCR, Mumbai, Pune, Bengaluru, Hyderabad, Chennai, Kolkata, and Ahmedabad. Security and shared amenities such as power backup, vehicle parking, club, gym, swimming pool, and garden space, among others, are reasons for flats' appeal.
Despite the fact that flats are in higher demand in these eight locations, present and historical patterns imply that plots are outperforming other residential assets.
"We witnessed important neighborhoods in Gurugram and the southern sisters of Hyderabad, Bengaluru, and Chennai witnessing double-digit rise in pricing for residential plots notably after 2018," said Ankita Sood, head of research at Housing.com, Makaan.com, and PropTiger.com. Whereas land prices in these cities have risen by 13 to 21 percent in the previous three years, apartment prices have stayed stable (2-6 percent). In the next quarters, positive feelings produced by policy reforms and the epidemic will boost this demand even further."
The demand for residential plots is highest in the southern cities.
In the north, Gurugram takes the lead.
Between 2018 and 2021, residential plot prices in the Gurugram market in Delhi-NCR increased at a 15% CAGR. During this time, land prices in Sohna, Gurugram, grew at a CAGR of 6%.
In 2021, the Dwarka Expressway's Sector 99 and 108, New Gurugram's Sector 95A, and Gurugram's Sector 70A and Sector 63 were the most popular residential land locations in terms of demand and price appreciation.
Last year, Karnki, Sector 14 Sohna, and Sector 5 Sohna were popular areas in Sohna. The Haryana government's policy-based initiatives have resulted in a high supply of plots in Gurugram.
Another Magicbricks report from last year found that homebuyers' appetite for plots has been rapidly increasing, resulting in a significant increase in demand that is now almost on par with that for apartments. Apartments were voted the most favoured asset by 36 percent of respondents, while plots were voted the second most preferred asset by 34 percent of respondents. Around 20% of those polled preferred separate residences, whereas 10% preferred villas.
According to post-COVID consumer trends on Magicbricks, demand for plots has increased as purchasers want greater room to satisfy their growing demands for a home office.
Plots are in great demand in residential areas near major infrastructure developments such as metros, airports, highways, and rail connections. Magicbricks data shows that the most popular cities are Bengaluru, Hyderabad, Chennai, Pune, and Lucknow. Hyderabad, Chennai, Lucknow, Gurgaon, and Pune are the cities with the most supply. In terms of locations, demand has increased in Yamuna Expressway (Greater Noida), Vishweshwaraiah Layout (Bangalore), Sultanpur Road (Lucknow), Mokila (Hyderabad), and Shamshabad (Hyderabad). According to the report, the areas with the greatest supplies include Shadnagar (Hyderabad), Yamuna Expressway (Greater Noida), Devanahalli (Bangalore), Sultanpur Road (Lucknow), and Sangareddy (Hyderabad).
If you are wondering which is the right time to Invest in plots, it is always now! To know more contact our real estate agents at happy homes India to provide you with crystal clear information and guide you through the ebay investments in delhi and gurgaon property listing.
Copyright © 2019-2022 (CS Realty). All Rights Reserved.
Owning a home is a keystone of wealth… both financial affluence and emotional security.Suze Orman