No matter which part of the world you go to, you always wonder what it would be like to have a home in India and watch your kids grow up in the same place you did. With the hope of returning to India someday, NRIs (non-resident Indians) look at investing in real estate. While ready-to-move-in homes or properties that are under construction are great options, there are many benefits that only come with investing in plotted developments. If you are an NRI and think otherwise, this blog is for you. Here are a few reasons why NRIs should invest in plotted developments.
Tax Benefits: Even NRIs are entitled to tax benefits. Under section 80 C of the Income Tax Act of 1961, NRIs can claim a deduction of Rs. 1 lakh. In addition, if you sell the property within three years of buying the property, you will gain short-term capital. However, you will be taxed if you make any profit on the property. You are also entitled to a few other tax benefits similar to Indian residents. For example, if you purchase property that is worth more than Rs. 50 lakh, you will have to pay a 1% withholding TDS.
High Returns: The best part about buying plotted developments is that it appreciates quickly and offers higher returns. It doesn’t involve a huge initial investment either. It is lower than residential properties like 2 & 3 BHK homes. If you buy a plot in an excellent and developed area, you will get even better returns in a shorter period.
Zero Maintenance: With you miles away, maintaining the property will be a hassle. With land, there is no maintenance involved. You don’t have to worry about painting, repairs, plumbing issues, and renovations, for that matter. However, you can ask a family member or a friend to check on the plot whenever they can.
Flexibility: The thing about buying plotted developments is you have the liberty to build the home you want when you are ready. You have control over the construction quality and everything in between. You can also design your home, keeping in mind your lifestyle. If you have any change in plans and what to sell, plots are easier to sell than a home.
Immediate Possession: Coordinating and waiting for your property possession is taxing. The stress of dealing with delayed possession dates is another story altogether. When you invest in land, this issue is eliminated. As soon as you finish the transaction/ process, you get possession of the plotted development. There is no waiting period involved.
Easier to Sell: If you ever think of selling your property, it would be easier to sell a plot instead of a residential property. This is because, over a period, the building depreciates, but the value of the land increases. Hence, making it easier to sell a plotted development.
Plotted developments are growing in demand because of the wide range of benefits it has to offer. Many top developers offer plotted developments with a range of services and facilities. Mantri KNS Carica offers residential plots for sale in Kengeri with top-notch amenities, state-of-the-art infrastructure, branded plots and more. If you are an NRI looking for plots near Kengeri, Mantri KNS Carica is excellent. We have three different ranges of plot sizes that you could choose from. Book your branded BMRDA approved plot at Mantri KNS Carica today!