We examine the many financial benefits of investing in non-agricultural (NA) plots in Talegaon
If you live in Mumbai or Pune and are exploring opportunities to invest in real estate, then, you may prefer places that offer excellent growth potential, where the investment ticket size is small. Investment opportunities in real estate, are generally in assets like residential apartments and commercial spaces. However, recently, non-agricultural (NA) plots have gained huge popularity. Investing money in a residential apartment or a commercial space in Mumbai or Pune requires considerable funds and a long-term commitment. However, if you opt for NA plots in emerging realty locations like Talegaon, then, it can significantly bring down the investment ticket size and considerably reduce the risks at the same time. There are several benefits of investing in Talegaon’s NA plots.
Investment ticket size in Talegaon NA plots is lesser than a constructed property
If you invest in an NA plot in Talegaon, it will cost you much lesser than what an apartment may cost in Mumbai or Pune. Low-priced apartments may lack amenities and necessary facilities, as these are generally built-in new areas, far from the city. A smaller investment ticket size reduces your risk exposure to that extent. For example, when you invest Rs 1 crore, your corresponding risk will be higher than when you invest Rs 25 lakhs.
However, for investing in an NA plot in Talegaon, you need only a fraction of the cost of investing in an apartment in Mumbai or Pune. Therefore, the risk exposure also comes down proportionately.
Plots in Talegaon allow greater flexibility for constructing a home or for use as commercial spaces
If you own a plot, you get the freedom to construct a structure as per your requirements. You can make changes in the design and ensure the use of the best quality materials. On the other hand, when you invest in a builder’s apartment, you cannot make major changes in the structure and you have to accept the product as it is.
With unlimited useful life, a plot’s value usually appreciates quickly. The return on investment increases phenomenally in the long-term, owing to increasing demand for land and scarce supply. Experts believe that when you invest in an under-construction property, you have to be at the builder’s mercy, to get the possession on time. If you own an NA plot, you can start construction as per your financial comfort and there is no risk of delay in possession.
“In Talegaon, you get the opportunity to own plots that also fit your financial capacity. If your financial capacity is high, you may invest in multiple plots adjacent to each other, or you can also invest in a single large plot. You get the freedom to build a 1BHK, 2BHK, or bigger home, as per your requirement, or you can use such plots as commercial spaces and earn good returns from it. You also get the flexibility to build multiple floors and earn regular income by renting it out,” says Raj Shah, director, Namrata Group.
NA plots in Talegaon offer high liquidity
Talegaon’s realty market is growing at a fast pace. It has quickly turned into a logistics hub. Industries and new businesses are opening up in Talegaon and Chakan, generating a large number of employment opportunities in the area. This workforce needs a place to live and businesses need space to open offices and outlets. Everybody wants an affordable, yet, attractive option. So, if you own a plot in Talegaon, you can easily sell it at an excellent price.
Avail of loans to buy a plot in Talegaon
Similar to home loans for buying apartments, banks also offer loans for buying plots. Banks usually lend up to 50% to 60% of the value of the plot. So, if you are planning to buy an NA plot valued at Rs 20 lakhs in Talegaon, then, the bank may allow you a loan of around Rs 10 lakhs to Rs 12 lakhs and the remaining amount has to be contributed from one’s own sources. The interest rate on plot loans currently ranges around 8% per annum. The tenure varies from bank to bank and you may get around 20 years to repay the loan.