Searching Properties in Bangalore, here ends your search!
Buying a ready-to-move-in flat requires you to pay a lump-sum amount or take a loan and pay EMIs over a period of time. This means you pay as you start living in the house. However, buying a plot requires you to have funds at your disposal to construct the property on the land bought and turns out to be more expensive compared to buying a flat of a similar size and dimension.
Cost of purchasing a flat or land depends on the location. If you are considering purchasing a plot within city limits in a metro - where space is a constraint - the price would be much higher than what you would pay for a flat. On the other hand, if you were to invest in land in one of the Tier-II cities in India, you would be able to acquire a substantial plot of land at a much lower price. The thing to remember is that while several banks offer loans to buy a flat, not many offer loans for plots.
"Prices of flats rise higher and faster given their limited number compared to independent houses which may not boast extra facilities that a housing society provides. The only advantage plots have is that the buyer gets to own the land and can construct a new house or an entirely new building to make profits,"