In India, there are different types of Properties available. A question arises when someone wants to buy the property: what type of Property will fulfil their requirement. Should they buy a plot, an apartment or an individual home etc? Hence, it’s always good to have knowledge on all the types. So, people can decide which property suits their requirements and budget. Let’s know about different types of property in India.
- Housing property
- Commercial property
- Industrial property
- Agriculture property
Housing/Residential property -In the world of the real estate market, residential properties are the most invested properties. It is an empty land that might be divided into several sections with different sizes (area size). These kinds of properties fulfil basic human needs and are more comfortable obtaining financing than other properties. The categories that come under the residential properties are single-family houses, apartment/flats, villas, condos, townhouses, duplexes, multifamily, and cooperative residences. If we see from an investment point of view, each of these categories has different prospects. Like an individual house increases the value of land over time, but an apartment does not after the use of 10-15 years.
Commercial property – Commercial property is an immovable property. It refers to housing businesses like shopping centres, restaurants, schools, hospitals etc. Commercial properties are classified as primary, secondary, tertiary based on how far they are located from the city centre. It is a bit expensive as compared to a residential property. In commercial property, investors may rely on the income statement. The operation of commercial property includes sales transaction costs, brand-new building costs and tenancy costs. These are the performance measuring indexes based on the particular business interest.
Industrial property – The land which is used to construct a factory or manufacturing goods and building are considered industrial property. These are located on the outskirts of the urban areas to avoid pollutants from the citizens. In addition, there are specific areas designed for industrial properties to not disrupt businesses and residences. Industrial property can be a risky investment and costly for beginning investors. However, investors prevail to earn a high return on investment.
Investing in land – These are underdeveloped areas. Investing in land is one of the least expensive and safest investments. The land intended to make a profit as well as high residential rental properties. These kinds of properties are within the city. This is a passive long investment. Property taxes or maintenance aren’t too high in cost. But loans will be charged at higher interest rates as compared to home loans. However, investing in land is still good because it could pay generously in the future.
All the types of real estate properties have some advantages and some disadvantages when it comes to investment. So, we can’t come to a conclusion as to which property is best. But if you need a good investment, you’ll need to analyse your requirements before investing in a property, also for the prospect growth of the property.
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