If you are considering buying a plot to build an independent home, the affordable real estate of Talegaon, which is near Mumbai, as well as Pune, could be the ideal choice for you
The year 2020 has affected significant change in business dynamics, especially in the realty sector. Earlier, developers used to mainly focus on the construction and selling of apartments to the buyers. Now, some of them have started offering non-agricultural (NA) residential plots, as well. Why so?
Due to the COVID-19 pandemic, many prospective buyers are looking for standalone properties, as they offer better social distancing. On the other hand, developers are finding it more profitable to sell non-agricultural plots, as it offers immediate liquidity, as compared to building big residential projects. Emerging realty destinations like Talegaon have also witnessed a surge in the demand for plots.
Why should you buy property in Talegaon?
People who work in Mumbai or Pune and are now looking to purchase their own home nearby, have a big opportunity to own a plot in Talegaon. It is highly affordable for the end-users and offers an excellent opportunity for Investors to make attractive gains, quickly.
Tips to pick the perfect plot in Talegaon
Ideal plot size: While selecting the plot, you should carefully assess a few crucial points. Usually, developers offer plots in multiple standard sizes-small, medium, or large. Normally, large land banks are plotted into different units. While selecting the plot, you should assess your requirement. If you plan to buy as an end-user, you should look for a plot with the appropriate size and shape. A plot that is bigger than your requirement can be costly, whereas a smaller plot may not fulfill your needs.
“If you are planning to invest in a plot, you may prefer a medium-sized plot, as they are often in high demand. The plot rate in Talegaon is comparatively much more affordable than Pune’s outskirts and thus, property investment in Talegaon is a wise choice. So, depending on your budget, you may invest in multiple small or medium-sized adjacent plots that you can later sell, according to market demand,” says Raj Shah, director, Namrata Group.
Identifying a good location for the plot: Avoid buying a plot that is far from the city’s vicinity, especially if it lacks the necessary infrastructure like electricity, water, and roads. You may prefer plots close to social infrastructure like schools, hospitals, shopping malls, etc. Good connectivity to other parts of the city can be an added advantage and gives you added reasons to invest in Talegaon and its nearby places.
You may prefer one that complies with Vastu Shastra norms within multiple plots, as they are often in more demand. Side and corner plots usually allow more space in the surroundings, but it depends on how the developer has managed the space while allocating the plots.
Who should buy NA plots?
The pandemic has made many buyers wary about health issues in apartments, due to the lack of social distancing. If you are one of them, then, plots can be the perfect choice for you. Some people prefer to customise their home shape and structure, as per their needs. Such people may also find plots to be highly suitable, as compared to flats. Standalone homes in owned plots usually allow greater privacy than apartments. Therefore, if you are looking to work from home, plots can be a perfect choice.
Things to keep in mind when buying a residential plot
It is important to carefully verify all the documents related to the plot before you purchase it. The sale of plots also comes under the RERA’s purview. So, before you buy a plot from a developer, check whether it is registered with the RERA or not. Avoid irregular-sized plots, as you may find it difficult to construct a structure on it or sell it in the future. Check the water supply in the area, so that you do not face difficulty at the time of construction or in the future.
Like home loans, there are plot loans available through banks and financial institutions but such loans are not eligible for tax benefits like home loans. Plot loans can help you to buy a plot if you are falling short of funds. Check with the developer and top real estate builders in Talegaon, Pune, if they have tie-ups with banks, to facilitate a plot loan. Check with your bank in advance, if they can help you with a loan to purchase the plot.
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