With the government's new initiatives in the real estate sector, buyers have a plethora of apartment choices. However, owning a piece of land still has an unrivalled prestige value. So, when it comes time to relocate or invest for a more secure financial future, many of us are caught between two options. Here we compiled this helpful list that will help you choose wisely!
One of the primary disparities between a plot & an apartment is that you'll have to live in your very own house right from the moment you acquire an apartment & you'll save a lot of money on your rent. Whereas a plot allows you to create your own customized home, until then you won't be allowed to live there & you'll have to pay rent even if you invest in the plot. Also, when you buy an apartment, you can use it as an investment vehicle as you rent it to someone, but in the case of a plot, it won't be possible. So, compared to plots, an apartment is a smarter investment choice.
An apartment is actually a comprehensive package for standard living; you can select one that would be ready to move into where it contains all the things that an apartment life demands. Hence, you won't be worried about any further headaches or strain. A plot that you wish to build on is just land & you have to build it from scratch & you'll now have to deal with the troubles & groundwork of building the structure, obtaining legal permission, & ultimately upgrading it with lifestyle elements to keep it livable.
Finding financial help for the purchase of a plot is more difficult than for the purchase of an apartment, since financial companies are hesitant to lend money for the purchase of a plot. So, as a result, there are limited alternatives for purchasing landed property, as banks often do not provide financing for the purchase of a land/plot, but it is effortless to get a bank mortgage for the purchase of an apartment.
In general, the plot is considerably more likely to get entangled in legal complications & litigation. So, when you purchase a plot, conduct thorough research on any conflicts, & ensure to keep an eye on it till you build your home on it. As in India, several issues are raised regularly relating to illegal land capture. Although these concerns are much reduced when purchasing an apartment when the buyer is protected by RERA & he or she has the right to go for a petition for compensating & remedial action, if the builder didn’t guarantee their promises. Accordingly, as a precautionary step, today's builders will exceed expectations to guarantee that all legal & financial requirements are met.
A plot can be acquired for the intent of constructing a new structure to get profit, or it could be utilized for other reasons. If you plan to acquire an apartment, only do so upon assessing the growth prospects of a specific neighbourhood. Your apartment's ROI will be higher depending on where it is located. Because of the increased movement of workers from other cities, an apartment in a desirable location will always have greater rental yields, providing you with a monthly second income & assisting you in being financially secure.
The tax treatment of plots & apartments differs. As in the case of an apartment, first-time homeowners are eligible for specific tax breaks. The tax deduction for interest on plots is allowed only in the year where construction is finished. Interest accumulated during project construction can be reclaimed as a deduction across 5 years in equal payments beginning with the year the work is finished, resulting in a delay in tax advantages. Holding a plot as an investment is not tax-deductible, but you can request a deduction for the interest given. Conversely, if the plot remains barren, it might not be eligible for a tax break.
The plot has comparatively better value appreciation than an apartment. This is mostly due to the scarcity of plots on the market. The value of a property is determined by its location & proximity to major infrastructure developments. However, the land market is a cobweb, so when you buy, you must be vigilant. So the safest choice for individual investors is to buy apartments; keep it simple & get your 20 or 25% appreciation because the land is all about where you want to be on the risk-reward spectrum. Also, make sure to select an apartment from a reliable builder with a good location & surrounding infrastructure to increase the value of it.
Apartments are easier to sell as there is always a huge demand. Furthermore, apartments provide a variety of facilities as well as security features. The attraction of plots is that the owner owns the land & can create a new house to optimize returns. But when you plan to sell it, it may not be fundamentally enticing to a possible buyer market. He/she may then either invest more in repairing it or entirely demolish it to create a new one. This might have a reasonable impact on the price of the house. However, in the case of apartments, such an issue does not exist as they’re available with a fixed structure (part of the structure) &, thus, more convenient to sell at the value without extensive negotiations.
After considering your wants, financial status, & commitments, take the best alternative. Having a plot implies that you should be careful with some choices. However, the benefits for apartments may be far greater than for plots. Because everything is already in place, you may begin earning profits on the first day. It is critical to seek apartment properties in affluent locations and, of course, from a reliable builder, so that you'd have a good chance of making a regular return.
If you are looking for your dream apartment in the heart of Kochi, Thrissur, Thiruvananthapuram or even in Kozhikode, then do visit Varma Homes, one of the top ranking and most trusted builders in Kerala. We strive to enhance top-notch quality construction materials to create apartments that will stand the test of time. With us, you shall not be disappointed! You will get the guarantee of quality residential options that provide not just great living spaces but also a lot of happiness.
Owing Apartments in Kochi is the biggest dream of NRIs and the middle class people. Kochi is basically said to be an investors’ market and these investments of both the NRIs and the middle class people have fuelled up the growth in the city. Kochi has seen a massive growth in its IT sector and Infrastructural development through NRI investments. Kochi is one among the most expensive real estate markets in India. Significantly, the populaces with an annual income of 13 lakhs and above only can consider buying residential projects in Kochi. Furthermore, the average price of the new apartment projects in Cochin and the rental value is noticeably getting high in the commercial capital of Kerala. The city of Kochi is already in the process of progressing from the small town into a metro city. The major places like Tripunithura, Vyttila, Fort Kochi, Kakkanad and Edappally are becoming part of the prime residential locations in Kochi. Many number of new apartments in Kochi are found available for sale and rent in these places. Nowadays, the home buyers who are most interested in investing in flats in Kochi are the salaried classes - the NRIs and the middle class people. And both these classes are specific about the facilities and the amenities offered by the flat builders in Kochi. They are also price conscious and are not willing to spend their hard earned money on investing in the independent homes especially because of the unreasonable hike in the prices of such properties in Kochi. In order to help the home buyers in buying their dream homes, the Government of India is planning to drop the GST rate for property purchases under the Credit Linked Subsidy Scheme (CLSS) from 12% to 8%. As NRIs are not dependent on home loans for buying new luxury flats in Kochi, the middle class people are the most beneficial with the Pradhan Mantri Awas Yojana (PMAY) Scheme in India. Under the scheme, a home loan subsidy interest amount of Rs 2.67 lakhs is provided to the beneficiaries and the amount is credited to their loan account. Thus, the home loan borrower is privileged to lower the EMIs and this lessens the principal amount of loan payable. The younger generations are also into investing in new luxury apartments in Kochi mainly because of the increase in number of IT companies, rapid progress of the transportation sector and improved communication in the metro city. With the advancement of metro rail, youngsters also prefer to buy new flats in Kochi which are even farther from their workplaces.Read More
Thrissur, known as the cultural capital of Kerala, has been witnessing a surge in demand for residential properties in recent years. The city's unique blend of tradition and modernity, coupled with a robust economy, has attracted both locals and outsiders to invest in apartments and flats in Thrissur. This article explores the factors contributing to the growing demand for residential properties in Thrissur, the role of builders in meeting this demand, the appeal of under-construction flats, the significance of eco-friendly apartment ideas, and the importance of choosing budget-friendly apartments. Additionally, we will explore how the city's tourist places also contribute to the rising interest in Thrissur's real estate market.1. Thriving Real Estate Market in ThrissurThe real estate market in Thrissur has been flourishing due to the city's steady economic growth and infrastructural development. With numerous residential projects coming up, the availability of apartments and flats in Thrissur has increased, catering to the diverse preferences and requirements of potential buyers.2. Builders in Thrissur Meeting DemandThe growing demand for residential properties in Thrissur has prompted several reputed builders to invest in the city. These builders offer a wide range of housing options, from luxurious apartments to more affordable flats, catering to various income groups. Their commitment to quality and timely delivery has contributed to building trust among potential buyers.3. Buying an Under-Construction Flat: A Lucrative ChoiceInvesting in under-construction flats has become a popular choice for buyers in Thrissur. Such properties often come at a more competitive price compared to fully constructed ones. Additionally, buyers have the opportunity to customize the interiors to suit their preferences, making it an appealing prospect for those looking for a home that reflects their tastes.4. Embracing Eco-Friendly Apartment IdeasAs environmental awareness increases, eco-friendly apartment ideas have gained traction among homebuyers in Thrissur. Many developers are incorporating sustainable features such as solar panels, rainwater harvesting systems, and green spaces in their projects. This emphasis on eco-friendly living aligns with the city's commitment to preserving its natural beauty and sustainable development.5. Budget-Friendly Luxury Apartments In ThrissurThe demand for budget-friendly apartments in Thrissur has been steadily growing. As more people seek affordable housing options without compromising on quality, builders have responded by offering well-designed and reasonably priced apartments. This trend has made homeownership more accessible to a broader segment of the population.6. Tourist Places in Thrissur: A Draw for Real Estate InvestmentThrissur's rich cultural heritage and a plethora of tourist attractions have played a significant role in attracting property investors. The city's festivals, art, and cultural events draw tourists from all over the world, leading to increased interest in owning residential properties for personal use or as potential rental units.7. Booming Rental MarketThe growing influx of professionals, students, and tourists has driven the rental market in Thrissur. Many property buyers see this as an opportunity to generate passive income by renting out their apartments or flats when not in use. This steady rental demand ensures a promising return on investment for property owners.8. Connectivity and InfrastructureThrissur's well-developed infrastructure and excellent connectivity also contribute to the rising demand for residential properties. The city is well-connected through roadways, railways, and an international airport, making it an accessible destination for both residents and visitors. Additionally, the presence of schools, colleges, hospitals, and commercial centers enhances the overall appeal of living in Thrissur.ConclusionThe growing demand for residential properties in Thrissur can be attributed to various factors such as the city's thriving real estate market, the presence of reputed builders, the appeal of under-construction flats, the emphasis on eco-friendly apartment ideas, and the availability of budget-friendly apartments. Thrissur's status as the cultural capital of Kerala, along with its rich heritage and vibrant tourist places, adds to the allure of owning residential properties in this picturesque city. As Thrissur continues to develop and grow, the value of residential properties is likely to appreciate, making it an attractive investment opportunity for both residents and investors alike.Read More
Materials are the solution to a well-functioning building, as an excellent structure can only be achieved with high-quality materials. When you buy a house or a flat, it is essential to have clear information regarding the quality of the products used at the time of booking. The materials used have a significant impact on the construction quality. The choice of building materials will determine the ultimate durability, longevity, and style of the building. That is where Varma Homes reigns high as the top builder in Kerala. At every step of construction, Varma Homes ensures quality to build a dream home because we value customer happiness above all. It can be difficult to choose the best product option for diverse needs. Therefore, in the construction industry, material selection is an important part as a number of aspects must be considered. As a trusted building partner in Kerala, projects of Varma Homes achieve optimal results by selecting a product or brand that mainly focuses on the following factors:1. Supreme quality: Only high-grade materials are sought after for all our projects, and hence we choose a brand that serves this purpose. These supreme products are capable of adapting to the varied climatic conditions without degenerating. The materials we select ensure the longevity and strength of the building structure, thereby becoming a profitable future asset for the user. 2. Availability: Brands with readily available stocks are another major factor we prefer. The availability of materials determines the finishing time of a building. Locally obtainable materials are our time savers, through which our work gets smoothly completed. This is one of the reasons why we earned the title for completing 6 projects within a span of 5 years ahead of schedule. 3. Cost: When searching for different types of construction materials, the prices have soared and always vary greatly. We believe that looking for the cheapest products is not always the best option because, if we don't consider their lifespan, we may end up having to restore them frequently, which is costly. We pick only construction materials that are both cost-effective and will last a long time. 4. Service: A great product gains our trust and we would vouch for it in the future too. Service is a pivotal aspect that strengthens a project from its inception to completion. As success is a combined effort, we opt for materials that provide us with the best service. By doing so, we have risen to great heights. When we choose vendors certain other points are taken into account such as:1. On-time delivery: We only work with vendors who deliver products on time, every time. Even minor project delays might result in dissatisfied consumers and financial losses. As a result, we only work with vendors who produce products on time to avoid delays in our work. 2. Wide selection of materials: A great vendor would have a wide variety of items and supplies on hand. This way, we can get all of the goods we need in one place. This helps us save time by eliminating unnecessary delays in procuring from various providers for various projects. 3. Proven experience: Using a supplier who hasn't been around for a long time is always a risk. That is why we take care to collaborate with vendors who have extensive experience in this industry. Senior managers and the sales team of Varma Homes are involved in deciding on the brand or material for a project. We choose the final brand or material only after considering their suggestions. The most important thing is that we never cut corners on material quality to save money. During the material selection process, the purchase department of Varma Homes places the greatest emphasis on this element. Sustainable InitiativesExtensive experience has shown us how much waste is generated in the construction of not only buildings, but any structure for that matter. We intend to employ every component that goes into construction cautiously and properly in our projects for a productive cause. We also have an IGBCE LEED Certificate in this area. Since its inception, Varma Homes has effectively established itself as one of Kerala's most trusted builders. We started with residential developments in Kochi and then expanded to Trivandrum and Thrissur. Our main launches will take place in Calicut and other major cities in the near future. It is our full-time goal to provide the best value and service in our price range, and we've succeeded time after time. It is because we believe in constructing happiness for everyone by fulfilling their dream abode.Read More
There are numerous things to think about when purchasing a luxury apartment in Trivandrum. Thispurchase will allow you to build the home of your dreams for your family. As a result, you shouldthink carefully before choosing which property to consider. The location and surroundings need tobe considered first and foremost.Neighborhood is important when you buy flat in TrivandrumYou shouldn't settle for a bad neighbourhood. It ought to be a tranquil neighbourhood withconsiderate neighbours and a reliable security system. Additionally, it should be close to all of theimportant amenities like hospitals, schools, and colleges.Following this, you can consider additional elements including the apartment's location, size, andfacilities. Check to discover if there are any additional amenities like swimming pools, gyms, orrecreation areas available.It is crucial that tenants have all of these amenities in their residence, in addition to a number ofothers, if you are purchasing an apartment to rent out to tenants.Commute TimesThe second thing to think about is how long it will take to go to municipal amenities. Purchasing aluxury apartment in Trivandrum, especially one within the city limits, can be expensive andoccasionally exceed your budget. Go for it if you can afford it.The Apartment's LocationWhen buying a flat, it's crucial to keep the apartment's location in mind. The apartments inTrivandrum should be situated so that staying there would satisfy all of your needs. It should beclose to reputable hospitals, schools, and markets, as well as other amenities like post offices andATMs.You shouldn't have to worry about anything while visiting if it is safe, tranquil, and has little to nocrime. The neighbourhood in which the home is situated is crucial because, if all goes well, it willmake your decision simple.The cost of the homeThe cost of the home should not exceed what you can afford to spend on it and should fall withinyour budget.If at all feasible, seek assistance from a professional or real estate agent who can inform you on theneighborhood's location and other amenities as well as the average cost of homes there.Visit the region if you can so you can see how much room is available there and what amenities,such as hospitals and schools, are close to your home.Future Resale Value while purchasing a Trivandrum apartmentThe second factor that should be carefully studied before buying a flat is the pricing. It needs to bereasonably priced and within your means.The property's location is a crucial consideration while choosing it. You will have to spend moremoney on transportation if it is not at a convenient location. Therefore, it should be in a goodneighbourhood with all the essential services like markets, hospitals, and schools.Before buying a home, there are a lot of factors to think about. If at all possible, visit the property toexamine what is offered before making a decision.Infrastructure QualityIt is crucial to be aware of the infrastructure quality in the area where you are purchasing a home. Itis challenging to investigate this before you purchase a property, nevertheless.Therefore, if at all feasible, ask others who have already purchased properties in that area.Before buying a property in any city, you must also take into account a number of other factors. Areal estate broker or an expert should be consulted before making a decision.Community feeling in the area.The neighbourhood where you plan to buy a house should have a strong sense of community. Thiswill assist you in meeting new people in the area and having fun with them.Due to the rapid market change, now is the ideal time to invest in or purchase residential properties,flats, and apartments in Trivandrum. One of Trivandrum's most reputable and trustworthy builders,Varma Homes, provides high-quality residential buildings with top-notch amenities in excellentlocations.Read More
Real estate Industry is beholding an intensifying growth with positive revolution due to the improved transparency in the industry. Several Government reforms and the implementation of RERA have made the investment in realty market secured and easy. Real estate Builders are more careful than ever when it comes to construction quality and timely completion. Given the ever-rising number of builders and real estate projects, it is often a difficult task to pick one. The reason for which you purchase would assume a crucial part of the decision-making process. Some purchase a home for immediate occupation and some purchase for an investment choice. While most of the home buyers prefer to opt for ongoing projects, let’s take a look at a few of the benefits of investing in an ongoing apartment project: Price Discounts Offered: This is unquestionably the main benefits for apartment buyers with regards to booking ongoing projects in prime locations. The key intention is to grab the potential home buyers, to steady the cash flow and to make the credibility. So, if you book ongoing projects in the heart locations of the city, you make certain to get incredible offers or discounts. Most of the builders offer price discount on the final property estimation for the individuals who book an apartment on the ongoing stage. Many Options to Pick From- During the ongoing stage, only few of the apartment in the property may be reserved. This gives you better adaptability in picking a home of your decision. Be it regarding the Vaastu consistency, the floor plan decisions, floor number or closeness to any of the apartment facilities, you can pick a house to coordinate all of your necessities. However, once the ongoing stage is finished and there are more purchasers, you would have restricted options. Great Investment- If you can wait for a couple of years to move in ongoing apartment projects of the reliable builder, then it will be definitely a great investment. Particularly due to the appreciation value of the ongoing project. If you pick one out of a likely area, you make certain to get noteworthy appreciation costs when the construction work is completely done. Choose Varma Homes, The Best Builder in Kerala For Your Dream Home! Looking to book an ongoing apartment project in Kochi, the hub spot of real estate market in Kerala. Compared to other cities, it is the best place to settle down with family or as a bachelor, here you find Kochi as affordable to live, more convenient and accessible. Being the leading and the most reliable builder in Kerala, you can trust Varma Homes for your dream home! We have our ongoing projects in top locations of Kochi, Trivandrum and Thrissur. We build luxury homes with all the high-end facilities. We have a devoted group of experienced and profoundly skilled experts who are focused on realizing your dream home with a high value on your investment. If you are looking to have your dream come true home in Kochi, then come and feel the lavishness in our extravagance ongoing apartment project in the city of Kochi like Thiruvankulam & Tripunithura. Here are our 2 & 3 BHK Luxury Apartments with all the modern amenities. Located in the prime regions of the city, which are crafted with the finest care to detail and provide home buyers with an opportunity to experience a lifestyle that echoes the ethos of the city. Booking is now open for the projects Varma Padipura (Ready To Occupy) & Varma Bougain Heights (Work in Progress) with extra add on benefits. New projects are launching soon in Kochi at the locations – Vyttila, Vennala and Elamakkara. And more projects are also coming in the cities of Thrissur and Trivandrum as well. So, book your dream apartment in Kochi with us, great experiences are just around the corner!!!Read More