To buy a plot means the owner has the freedom and the responsibility of construction. This requires monitoring and extensive involvement in every step. However, the sovereign choice to build also leads to exceed budgets.

While buying an apartment, you do not have to worry about hiring an architect, seeking government approvals and dealing with contractors. These are the responsibilities of the builder. The developer also takes care of essential services like power backup, maintenance and security, in addition, you get access to common community facilities. Apart from the house and registration costs, the buyer has to incur a cost of interiors alone.

Thus, at any price range, a plot requires more in terms of investing time, energy and money.

Location is the key to price. If the market is stable, the value of a plot will rise over time. The supply-and-demand equation will also affect the price of real estate land. Increasing scarcity of land, especially in urban areas, also increases the value of the plot. The appreciation value of plots is higher than that of apartments. This is not to say the price of an apartment will not rise.

Infrastructure and neighbourhood are also prime factors for the valuation of both plots and apartments. However, the value of a building has to factor in the value depreciation due to age.

Plots offer an advantage of usage flexibility and handsome value appreciation in long term. However, flats have better short term resale value when they are not held for a long time, the depreciation factor is eliminated.

A house is the only option if you are looking at property as source of income. This is not possible in case of plots. However, owning multiple houses and plots means additional tax burden. You can show only one house as self-occupied. You will have to pay tax on income from other properties even if they remain vacant.

Lifestyle preference, desired holding period and costs incurred in transactions should be the parameters on which to rest your choice.


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