Factors to Keep in Mind When Planning to Invest in Plots in Chennai

A plot of land in any of the major metros of India, such as Chennai, can prove to be an incredibly valuable asset. Property investment is way safer than most of the other investment vehicles, and unlike apartments or villas, plots do not have any maintenance expenses associated with them. Moreover, plots are typically more affordably priced than ready-to-move-in homes. However, still, there are a variety of factors you need to keep in mind while buying plots in Chennai to make sure that your investment is truly fruitful. Here are a few of those factors:

  • Floor space index of the plot: Floor space index (FSI) basically implies the measurement of the total amount of area that is available for the construction of an establishment. Whenever buying a plot, you must try to invest in the one whose FSI is greater.
  • Proper ownership: You must proactively verify the ownership of the plot and make sure that it is absolutely legal. To prevent any discrepancies in the process, you should try to invest in plots developed by renowned, well-established, and trustworthy real estate developers operating in the region. Most of them usually sell CMDA approved plots, which underlines their high reliability. 
  • Tax charges of the area: Diverse areas of Chennai have distinctive costs linked to availing various types of facilities. These costs may include electricity charges, water tax, land tax, and so on. Hence, you must properly learn about the taxes you shall have to pay every year, before investing in a property in Chennai.

  • Location of the plot: Undoubtedly, the location of the property is among the key elements you must take into account while making your investment. To make sure the valuation of the property goes up in the future, you should buy plots in areas having good socio-economic infrastructure. This basically means that there must be basic facilities like medical centres, schools, and shops present nearby it. Buying plots in neighbourhoods that are well-connected to the IT hubs of Chennai can especially be a smart move, as these localities are expected to attract many job seekers and professionals planning to settle down in the city.  

Details about the best plots in Chennai can be found online.

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