My story on investing in Land
I came from a middle class family and my strength was paurely the eduaction and values that my parents had imparted. It had been 7-8 years that I had been working in a private company and looking forward to some kind of investment.
It had been ages that I had been living in rental places and as the old wisdom suggested. I shhould have a property of my own for the obvious reasons. One is a roof that you own, investment the other and a sense of security for me and my family.
The purchase
A simple call from my brother asking if I was looking for buy land and getting it constructed. Became One of the best investment in my life. The call was short and crisp not too much information, just that its a barren land, if we bought now we would get the best two plots of the developer's plots. There would be an 80 feet road passing next to the two plots. The city was obviously growing at a decent pace.
The journey
The land was purchased in 2003 and the possession was given by 2004 October. To say that the develpoment was huge well no. It was initally around 20-30 duplexes made and the property was still under development. Years flew and the 80 feet road was still not made while being part of the city master plan. Anyway the valuation kept on gowing up for other reasons like more duplexes were being made.
The 80 feet road
Then one day I got the news that the road is being constructed and the valuation started multiplying. The road at that time was connected on one side to the highway with partly made roads. on the otherside there was a bridge to be made. As is in most of the Indian cities things take time to gather momentum. So again a few year passed and then finally the road was properly connected on both the sides
Water the last issue
Fresh water now is the challenge that is being resolved and it is being connected with a river flowing 100 kilometers away. The day there is regularity this in turn will impact growth further.
A great investment
I all this has been a great investment and while valuations have not been done. The information is that the valuation is probably 15 times of 2004 when the project was handed over to me.
You may buy from renowned property builders
You may also buy land from renowned property developers like The House of Abhinandan Lodha or others. As they not only buy land, they cut into plots, provide you basic amenities, provide security of land, so exposing yourself to land would be safer as also regulated by the government.
