How to invest in plots for houses during demonetization
With demonetization in effect, property prices, especially the cost of plots for house are hugely affected. It is expected that within this phase the prices of plots for homes in India would go down almost 30 to 50% of the pre-demonetization rates. The real estate industry is in a panicked state due to this move by the Government of India; announcements such as implementation of new steps to curb un-named properties are coming to the forefront.
When the economy of the country is being reformed, the property rates are going haywire making residential plots cheaper than before. As the black-money is being eliminated from the system it’s influencing the real estate industry as well, by ticking off the unrealistic prices of plots for home. The law of supply and demand is playing a crucial role in the market making excess amount of residential lands (supply) easily available and less number of buyers (demand) for them, even at a cheaper rate.
When the property market is experiencing so much fluctuation, you should remain alert in case you are planning to buy plots for houses. We know that buying plots for home is a crucial step for you, as the dream abode (be it a simple house, villa or bungalow) to be built upon it means a lot to you.
Now, both residential and commercial plots have their prices declining. It is an opportunity for buyers to invest in suitable lands that would have a greater value in the future, keeping in mind the rapid urbanization of India.
Here are some points to keep in mind, while buying commercial or residential lands:
Location of the plot
Location of the plot is the first thing that comes to your mind while considering buying plots for home construction. Selection of the residential lands should be done wisely; the sites without any or poor source of groundwater need to be avoided. While selecting the plot for your home, take optimum care to avoid it being close to any garbage dumping site in order to get clean and fresh air. For a smaller residential plot, try to avoid having huge trees in it and save extra expense to chop it. You can design a beautiful garden around the trees if the plot is generously large.
Direction of the plot
The direction of the residential plots would matter to you more, in case you are a firm vastu believer. The east and north facing plots are considered to be appropriate for house construction according to vastu. West and south facing lands are least preferred by vastu, as they are believed to have some negative effects on the residents of the houses built on such plots. Avoid them if you don’t believe in vastu, but in general also the direction of the plots for houses is of significance from the construction and future convenience point of view.
Shape of the plot
The shape of the plots for houses plays a significant role while selecting the perfect residential lands. The most appropriate shape that you should choose to construct your house should be square or rectangular in shape. Rectangular lands are considered appropriate plots for bungalows, because laying the foundation becomes easy as linear shapes allow more flexibility for construction.
Plots for houses which are wider at the front as compared to the back are good for the construction of residential villas or bungalows, while the plots with a narrow front can be utilized for commercial activities.
Right selection of the residential land is important for a well-built home. Whether you want to build a bungalow, villa or house, you should always keep in mind the size of the plot. When you have enough money to build your dream bungalow or villa (an independent one – fully detached from neighboring houses), you shouldn’t hesitate investing in the right piece of land for the same purpose. Invest wisely in this crucial phase of demonetization and build your dream home on a suitable plot for houses.