Why You Should Be Willing To Buy a Villa?

From: Sulekha Properties
Published: Wed Oct 26 2016

Shahrukh Khan, Sachin Tendulkar, Mukesh Ambani, Amitabh Bachchan, and John Abraham- what do all these people have in common? Apart from the fact that all of them are famous celebrities, they all own a phenomenal villa!

Why buy a villa?
Well, it can be used for a lot of purposes. If a person is looking for retirement villas, s/he’s in good luck as Age Ventures India (AVI), an NGO has come up with architectural plans for building retirement villas all over the country. TATA Housing has also started a project with 12-13 retirement home projects branded as "Riva Residences" with a budget of rupees 1,300 crores. An independent house will also prove to be an excellent holiday home for a person investing in the outskirts of the city. Another reason to buy a villa in your city is for its investment returns as the plot along with the constructed villa will belong to the owner unlike a flat. Buying an individual villa and renting it out will not only prove to be an investment but also will be an asset you can rely on.

Why should you buy a villa and not rent it?
If you plan it as a long term investment, a villa can be passed on to the family or leased out to gain profit. The super-built up area with the presence of many useful amenities like swimming pool, outdoor play area, gyms and garden will help increase the price value at the time of resale. While Non-Residents of India (NRIs) and High Net Worth Individuals (HNIs) are the primary targets for villas, many banks also facilitate the middle class and the upper middle class to invest in villas. When we look at the statistics, almost 16 – 18% of people buy villas as a form of investment whereas 52 – 59% of people consider it for their own use and for recreational purposes. Prices of villas vary from place to place but the average price is around INR 60 to 70 lakhs across the country and rental yield will be around 2.7 to 3.8 percent of the total saleable price.

What are some of the things you should look for while buying a villa?
Location is one of the most important aspects to look at while searching for a villa. Depending on your preferences, you can either go for a villa near to or far from the bustling city. Next, consider the built-up area. Villas are usually above a thousand square feet with promising amenities built to last. Don’t get carried away with these amenities as the price comes in handy. Check if the structure, materials used for construction, and the age of the villa are all worth the price. At last, make sure all the parent documents including the supporting documents are furnished along with the due-diligence certificate.

Sulekha Properties is one of India's foremost providers of realty services and a one-stop shop to buy, sell and rent property today. It is a premier offering from Sulekha, one of India’s largest digital platforms, that serves 10 million users and 5 million businesses every month. With a rich history given its early foray into the property space, Sulekha Properties has come to be established as one of the most prominent portals for real estate needs and counts for upwards of 3 million visitors every month. With a significant presence in major Indian cities like Delhi, Mumbai, Bangalore, Chennai, Hyderabad, Pune and a steadily improving significance across the country, Sulekha Properties is set to grow faster and deliver better to the stringent Indian consumer. To know more, visit Property.Sulekha.com.
Company: Sulekha Properties
Contact Name: div23
Contact Email: divyajaina@sulekha.net

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