Looking to invest in a plot of land in India but don’t know where to put your money? Here’s a list that you can choose from.
The love for land is eternal. This is especially true for Indians. We have just as much love for the land we own as we have for the food we eat. Investing in real estate has been a sweet spot for Indians for many decades. In real estate, land, in particular, has always given positive returns, beating even other forms of real estate investment. This is true even if one purchases a property using a Home Loan.
However, the key to making handsome returns on land purchases is to make the right choice when it comes to location. Locations with great growth potential or upcoming areas are ideal bets when you wish to purchase land. The key points here are affordability, connectivity, and industrial growth. Keeping all this in mind, we have picked 5 locales that look like they have a high potential for growth in the long run. Interested? Read on.
Hoskote, Bangalore
Termed as Neo Bangalore by real estate developers, Hoskote is a taluk in Bangalore rural district. It is about 25 kilometers from the center of the city. Being very close to Whitefield, the IT hub of Bangalore, Hoskote is sought after for its land availability and reasonable per square feet price. As per data on Magicbricks, the price for residential plots ranges between Rs. 1,090 and Rs. 1,893 per square feet here. The nearest railway station is Whitefield railway station and the Kempegowda International Airport is 40 kilometres away. K.R.Puram, a popular residential area, is about 15 kilometres from Hoskote. Thanks to multiple flyovers, it usually takes only about 20 minutes to reach K.R.Puram from Hoskote.
Several real estate developers, such as Salarpuria and Brigade, have started building apartments and villas on the way to Hoskote on NH75. Despite the higher growth witnessed in this area, prices are still comparatively lower than other parts of Bangalore, indicating further potential for growth in the long run. This can, therefore, be a good area for land investment for investors, keeping in mind proximity to important locations such as Whitefield, good infrastructure, and lower prices.
Additional Reading: Real Estate Investing 101
Wagholi, Pune
Wagholi is a town located on the Pune-Nagar highway and is connected well to IT parks through Nagar road. It is an industrial belt and has many call centers and Business Processing Outsourcing (BPO) companies nearby. The per-square-feet price for a residential plot in Wagholi is a very reasonable Rs. 799 to Rs. 1,100. Viman Nagar with plenty of malls is just half hour away from Wagholi.
Wagholi is very close to the IT hub in Kharadi. Many developers like Kolte Patil and Marvel have started building projects in this area. Infrastructure here is getting better and the proposed flyover from Shikrapur to Wagholi will help.
Kundrathur, Chennai
Chennai is a developed market in terms of real estate. So, affordable plots are available only on the outskirts of the city. After Oragadam, Sriperumbudur, and Guduvancheri, Kundrathur is an upcoming real estate hub in the outskirts of Chennai. The famous Kundrathur Murugan temple is located here.
This locale is situated close to the Chennai – Bangalore highway and has become a fast developing residential area between Porur and Pallavaram. Since the Chembarambakkam Lake is nearby, there are no water supply problems here. Kundrathur has especially seen a high demand for plots in the recent past owing to well established basic infrastructure and connectivity through public transport. Plot prices in Kundrathur range between Rs. 1409 and Rs. 2,296 per square feet.
Additional Reading: Avoid Real Estate Scams To Reap Rich Returns
Rajarhat New Town, Kolkata
Rajarhar New Town is a satellite city located on the outskirts of Kolkata and is an IT and residential hub. Consisting of two villages, Rajarhat and Bhangar, this area is being developed in the northeastern parts of Kolkata. It is estimated that this will be three times the size of Salt Lake City. Being a corporate as well as residential center, this town has 10.5 kilometres of Wi-Fi zone. This zone connects the Arterial road to Sector V. This is India’s first road Wi-Fi connectivity. This zone has been declared as a green corridor.
Infrastructure is well planned and already many IT firms such as HP and IBM have established their offices here. The new town is very close to the airport, thus offering good connectivity. The area also offers good entertainment options. Considering the land parcels being acquired by corporates and builders, it is expected that this area will develop well in the coming years. The price of plots here ranges between Rs. 3460 and Rs. 5100 per square feet.
Adibatla, Telangana
Adibatla is a village in the Ranga Reddy district of Telangana. This place is very close to the outer ring road of Hyderabad. Many IT firms like TCS have offices near this area. The most attractive part is that Tata’s Aerospace SEZ is located here. This is expected to ensure that this area gets good infrastructure. It has good connectivity to the airport.
Adibatla is just about 20 kilometres from the center of the city and 15 kilometres from L.B. Nagar and Dilshuknagar. Located very close to the Srisailam highway, this area is well connected through road. You can get plots starting from Rs. 800 per square feet here.
Additional Reading: Home Loan Document Checklist
Land is not just an investment that can yield good returns, but it is also a highly risky investment proposition. Not every land parcel you buy can give you great returns. It is, therefore, always advisable to understand all legalities associated with the plot. You should also check the papers thoroughly before purchasing land. Think plots are too risky? You can invest by buying an apartment or a house. Our Home Loan rates are pretty attractive too.