Difference Between Plots and Apartments – Great Tips
Real Estate / by Saran raj / 201 views
Plots and Apartments are the most trustable assets of middle-class people over a decade. But there is a huge difference between these asset classes which common people are not aware of.
Over the last decade, metropolitan citizens prefer Apartments to Plots.
Both these residential occupancies have merits and demerits.
This article will be a checklist factor for any new real estate investor, to pick the right one.
We have just drafted the differences by 360 degrees analysis on multiple factors which followed for ages.
Here are the following parameters an individual should go through before purchasing a Plot or Apartment.
Apartments are comparatively higher than plots. In Metros, the space crunch and high rates make the buyer prefer apartments as the best choice.
The down payment is comparatively low & easier to get a loan. Most of the builders have tie-ups with various banks to make hassle-free bank loan processes.
Plots are always cheaper than those apartments.
Here the stage of life & strategic decision makes the buyer feel the high value if any (extra additional money) for a lifetime investment.
Strict routinization of documents in sanctioning a bank loan is not only time-consuming but also with the heavy down payment. Even though here the individuals have to undergo the tedious process, they don’t mind it, ultimately, they want perfection about plots and apartments.
People relieve themselves from the tedious processes like getting clearance from various Authorities, paying stamp duty to the Government, getting other connections like electricity, water, etc in the case of Apartments.
Here the builder will take care of all these formalities. In the end, one will get legally perfect documents without litigation for plots and apartments.
One must involve himself carefully to get properly done the formalities for 100% satisfaction in case of Plots. Ultimately, they have the clarity & the satisfaction that they checked everything by themselves for their money.
So, here are the things to check before buying a plot.
- Listing ID: 17353