Moneycontrol

Budget 2023Budget 2023
Live Now Nifty Banker 3.0 | India's First Retail Index Traders Online Conference. 12 webinars
Budget 2023
Budget 2023

Should you invest in a plotted development instead of a multi-storey apartment?

While plotted homes have the advantage of getting delivered faster, buyers need to do their due diligence with regard to the land title. They also need to be wary of issues relating to basic amenities.

With work-from-home widely accepted, homebuyers are faced with the dilemma of whether or not to invest in plotted homes or apartments.  (Representative image)

With work-from-home widely accepted, homebuyers are faced with the dilemma of whether or not to invest in plotted homes or apartments. (Representative image)

Plotted developments or independent homes have not only grabbed the attention of buyers, but also of developers who find it the easiest way to capitalise on their idle assets. Investing in low-rise flats or independent homes solves two problems at one go - buyers stand a chance to get early delivery and developers need less money and time to complete these projects when compared to high-rise apartments. Also, the work-from-home culture has pushed buyers to look for houses that can cater to their requirements.

“We have seen a 30 per cent increase in queries for homes with infrastructure that caters to the need for work-from-home. Pre-COVID, very few were asking us about web connectivity, power back-up, etc. The demand for such infra has only grown, with many firms permanently moving to a work-from-home style of working,” said Santosh Agarwal, CFO and Executive Director, Alpha Corp.

Rakesh Reddy, Director, Aparna Constructions & Estates, said that homebuyers are buying plots to build independent homes or retain them as a long-term investment since it requires minimal maintenance.

“Working from home has led to the increase in demand for plotted developments in suburban areas where premium spacious projects are even more affordable. The increasing opportunities for remote work have led more people to consider purchasing homes beyond the metros, focusing on suburbs and smaller towns. This trend of reverse migration and decentralisation will improve economic activity in Tier 2 and 3 cities, which will lead to increased growth,” said Reddy.