Investment is a journey in stages. Whether you be an aspiring investor or a veteran, a real estate investment is one of the most significant purchases that you make on this journey.
A few years back, when scouting for properties in Mumbai, an investor would start at locations like Andheri, Bandra, Powai, etc., given their developed infrastructure. That’s changed now. Mira Bhayandar is emerging as a lucrative destination for investments. The smart money says that “To stay well connected to the Mumbai city and get good infrastructure at a budget-friendly price, Mira Bhayandar is the place to invest.”.
Depending on your financial goals, you have to choose between investing in an apartment or a plot in Mira Bhayandar. Factors like the scope of livelihood and sentiments can ricochet your decision between the two investment options. To avoid losing good real investment opportunities to indecisiveness, here are a few parameters that will help you make an informed investment decision.
Financial Benefits
While buying a plot for investment, bank loans are hard to come by. That, and plots are subject to minimal taxation benefits, which are bountiful in the case of residential apartments. On the other hand, banks easily approve loans for residential apartments.
Flexibility
On a plot, you have the luxury of building a house to your taste. You get to make changes to the construct of your home to suit your lifestyle and finances. With apartments, you don’t get to make such personalised structural changes. You have to make do with the standards set by the developer to attract a particular class of homebuyers—not ideal for those looking for independent home designs. However, projects like NG VALENCIA & NG SILVER SPRING offer luxury apartments in Mira Bhayandar with premium on-site amenities that fulfil almost every homebuyer’s needs.
Monetary gains
Apartments are ideal for creating a steady source of income due to the high demand for rental apartments. Plots are not so beneficial on the scale of short-term gains and require favourable market conditions to become ripe for long-term gains. So, if you want a steady flow of income right from the possession, an investment in apartments is the one you should make.
Resale value
The stakes of financial returns are higher on investments in plots as there’s a huge demand for open spaces and limited supply. You can gain huge returns on plots, given that you save costs on construction without compromising on quality and offer potential buyers the means to convenience and comfort. An investment in the apartment is safer (though gains are typically less exponential), holding a promise of steady returns in proportion to the increase in demand for apartments in the locality.
Safety & Legalities
Investment in plots involves higher personal risks of litigation. And there’s always a need for cautionary measures against encroachment. When it comes to apartments, the developer takes care of such matters, thus offering more security, given that you get the property documents checked thoroughly before signing on any deals.
