Beneficial Aspects Of Buying A Plot In Chennai

Chennai is among the most popular cities for property investment in India. There are many beneficial features of buying plots in Chennai. For instance, plots tend to provide high flexibility and return on investment while having low property tax and maintenance expenses. All these factors make investing in a plot of land in Chennai a smart move. 

Chennai is among the most sought-after realty destinations in India. There are many affordable and well-appointed real estate options across the city. People can easily choose to invest in residential plots in Avadi, Tambaram, Guduvanchery, and many other flourishing areas. The advantages of buying residential plots in Chennai are many; some of the key beneficial aspects are mentioned below: -

High Flexibility

After you have invested in a plot in Chennai, you can construct the house of your dreams based on your personal preferences and budget. This construction may include a garden, a backyard, a parking area, and more. Taking this into account, plots provide you with the freedom to construct a house that not only fulfils your requirements but also fits your lifestyle and reflects your personality. 

Maximum Versatility

Investing in a plot of land is similar to purchasing an empty canvas. You get to build a house on it entirely from scratch, while including customizations you desire, and leave adequate space for future changes. Buying a plot would be a good way to build a home that effectively meets the needs of your family. Even if you have enough money now to build the grand residence you desire, you can always choose to buy a plot of land now and save funds over time to construct the perfect home down the line. 

High Returns on the Investment

Buying a plot of land in a good neighbourhood like Avadi, Poonamallee, or Guduvanchery is a very smart investment decision. Plots in well-developed and advantageous locations tend to significantly appreciate over time and provide a high resale value. While having a relatively low initial investment, plots in Chennai can deliver high returns over a short span of time. 

Low Property Tax and Maintenance Expense

In India, property tax has to be paid by every individual who owns a house or land. The rate of land tax is significantly less than that of tax on houses and apartments. The maintenance expenses associated with plots are relatively low. Thus, you are unlikely to have to deal with any utility or repair expenses after buying a plot of land. 

Like other metro cities, Chennai has witnessed steady growth in population over the years. This has led to an expansion of the city in multiple directions. The Chennai Metropolitan Development Authority (CMDA) is responsible for the governance of the core area of Chennai, on the other hand, the Directorate of Town and Country Planning (DTCP) is responsible for the lands lying on the outskirts of Chennai. Purchasing DTCP or CMDA-approved plots in Avadi, Poonamallee, Thirumazhisai and other flourishing areas of the city can be a good idea. There will be continuous creation of residential high-rises but only a limited amount of land is available, which implies that the demand for plots will consistently go up and their value will continue to appreciate.