“Buy land, they are not making it anymore.” – Mark Twain
There has always been something about land that has been drawing real estate investors towards it for ages. Land continues to be one of the most sought-after and profitable options for long-term investment.
We will discuss why!
1. You do not need to do anything!
You just need to know whether your piece of land is suitable for building or not. As the owner of it, you just need to sit back and enjoy! This is a smart and fast way of investing in money.
2. More returns on investment
If investment is in your agenda, then it is a good decision to invest in lands as plots are known to score over other types of property, when it comes to returns on investment. Space is shortening out in almost all Indian cities and the flexibility provided by plots to build on it, as per future requirements, is unmatched if you compare with other property types. You will face a lot of hindrances if you intend to go for any expansion or modification in your apartment. This is the reason why the value appreciation in plots is much faster, as compared to apartments.
3. Land is inexpensive to own
If you need an avenue for long-term investment, land will fit the bill perfectly for you as it is way too inexpensive to own. When you buy a plot of land, you do not need to pay any utility bills, property tax is nominal and property insurance is comparatively cheaper too. If you are thinking of parking your cash somewhere and intend to forget about it, investing in land is just the perfect option for you.
4. A plot of land has zero depreciation
An apartment loses out to plots in the sense that apartment ages faster. Because of depreciation, an apartment that is long under construction actually gives you diminishing returns. But there is no such issue with plots as land has zero depreciation. It gives the owner more peace of mind as compared to apartments as land is an asset that has no associated fear of being destroyed, broken or worn out.
The bottom line
If you have made up your mind about investing in lands, buying a plot in Mohali is a fantastic option for you. With the establishment of reputed educational institutions, Mohali has transformed itself into a knowledge hub. This, along with other growth stimulators such as flattering connectivity to other big cities in North India and the presence of global companies have also prompted people to settle in this economically growing city. There is also a high probability of capital appreciation and an increase in real estate value in near future in Mohali. Hence, it’s the perfect time for you to invest in plots in Mohali.
Wave Estate is a mega project at the central location of Sector 85 and 99 in Mohali, which is offering plots at affordable prices. For more details about plots in Mohali, visit Wave Estate