Plot or Apartment: Which is a Better Option?

By: Sumita Roy

Buying a house is a once in a lifetime act. Before investing we always make sure whether it matches our criteria of adequate space. Whether the place has good connectivity? And whether it lives up to our expectations of providing adequate features or not?  

Previously there were no builder groups who would take up a residential project and deliver it with all the essential amenities and specifications. With an abundance of vacant plots available, people planned and designed their own houses.

But with the emergence of builder groups, especially in the metro cities, the construction process has undergone a paradigmatic shift. Today, most of the people opt for readymade houses instead of personally designed spaces. But this does not mean that there are no individual house construction plots available. In fact, there are quite a number of builders who are providing plots for residential and commercial purposes.

Now, the question a buyer faces while buying a property is whether he should opt for apartment or buy a plot and personally design it? The simple answer to this is - check your bank accounts. With the growing rate of land prices no one usually buys a plot and constructs a private residence. He does not have ample money, time and access to adequate human resource to build a house. Nowadays, plots are mostly bought for investment purposes.

With a majority of the city population consisting of middle class working citizens, apartment seems the best option. The projects become all the more enticing when the builders offer inaugural discounts to buyers.

But building a house on a plot and fitting it with all its unique features is also a very tempting endeavor. 

Particularly, for any person who has the luxury of a big bank balance. He can hire his own architect, mention his requirements and even design the entire layout. He can recruit his own set of skilled labor and see that the house is constructed accordingly.

But this kind of an undertaking requires good amount of investment and ample time. Both of which cannot be afforded by the milieu of working class people. It is only an extravagance that can be borne by a very restricted population of affluent people.  

Therefore, residential apartments have become the new way of living and a city trend. All thanks to the builder groups who have undertaken such projects and have embellished them with amenities and specifications that suit the modern style of living.