The coronavirus has disrupted the real estate sector, but property prices are not likely to fall in the future. In Land valuation, Pune has shown a 2% rise in prices from September 2019 to September 2020.
As a prudent buyer looking into plots for sale in Pune, understanding the land appraisal or land valuation process provides you with the best long-term returns. Consider these factors to determine the value of a property:
Land Features
The price of bungalow plots in Pune will depend on the location, water availability, topography, sewer lines, and more. You can expect greater investment returns by purchasing homes with a view and lots of outdoor space.
The better the quality of the land, the higher the price of land. A construction-friendly topography will involve lower construction and development costs, thus adding value to the property.
Proximity to Amenities
Easy access to facilities can affect a property’s overall value. Proximity to schools, hospitals, entertainment centres, and work hubs is basically a requirement for every homeowner. Thus, travelling too far for these amenities can hurt property value.
Access to Commercial Activities
Land prices in metropolitan cities will be higher compared to villa plots for sale in tier-2 cities. Moreover, the property will be worth a little more as you move to the centre of the city. All the major banks and companies have their head offices in the Central Business District, making it an expensive yet desirable area.
If you prefer more affordable land for investment in Pune, consider Hinjewadi, a rapidly growing IT hub that’s only 6 kilometres from Pune.
Land Usage
Land usage also plays into the appraisal of plot prices in Pune. Two pieces of land having the same area could be wildly different in value if one is used for a single purpose and the other for mixed-use.
In mixed-use development, commercial and residential property coexist. Mixed-use land commands a higher premium since you get higher long-term returns.
Land and Property Records
Land that has verifiable records of past ownership will be more expensive than land without a clear title. With proper records, the chances of future disputes are minimized, so it’s wise to do your own due diligence before purchasing villa properties for sale.
Regulations and By-LawsÂ
Regulations regarding land use, floor area ratio, etc. can influence the plot’s appraisal value. With these development restrictions in place, the land available for residential use is limited, driving the property’s price and demand.
Land the Best Deals
Why settle for an apartment when you can get a spacious villa plot for sale in Pune for the same price!
Banyan Tree Realty‘s upcoming project has high appreciation prospects and every amenity for peaceful living. The villa properties for sale are nestled amid a sprawling landscape close to Hinjewadi – one of the best locations in town for industrial growth.
Features like a jogging track spanning 3 km, a plot FSI of 1.5, a 10,000 sq ft. clubhouse, and a luxe business lounge give this gated community in Pune some weight in the market.
To know more about how you stand to enjoy great returns with Banyan Tree Realty, contact us today!