Types of Plots and Various Types of Housing Plots in India
Introduction
We are all aware that buildings are built on plots of land that have been allotted by the government to various industries, including the housing, commercial, and agricultural sectors. Plots can vary greatly. Depending on the composition and type of plot, they have been modified to meet various needs. Each type of plot has subcategories based on the purpose for which it was designed. This is true, especially for housing plots, which are one of the most in-demand types of plots. Residential plots are unquestionably the most in-demand in the current environment, with an increasing number of people actively looking for a new home.
We will go over the various plot types and provide more information on the various housing plot types.
What is a plot of land?
A plot of land is a significant area of land that you or your family have been given or have inherited. If you have legal ownership of your home or place of business, you are free to build there.
Types of plots:
Plots come in a wide variety of types, and there are subdivisions for each type of plot.
Industrial Plots
In addition to housing, industrial plots are extremely important. Economic growth has been driven by industries. Compared to residential or agricultural properties, industrial properties are less common, but they are used for the industries that support the economy.
When several industries are brought together in one place, using the same resources, and operating under the same property rules, an industrial plot serves as a good amalgamating ground. These types of plots are situated far from populated urban areas.
Commercial Plots
Commercial plots are similar to residential plots in form and are also located in urban areas; it is only their use that distinguishes them from the housing market. These plots are similar to complexes in size and are typically purchased by businesses. Many multipurpose commercial complexes and buildings, such as offices, restaurants, shopping malls, shops, hospitals, movie theaters, etc., are located on these kinds of plots.
Agricultural Plots
One of the most prevalent types of plots in India is agricultural land. Rural areas are where agricultural properties are most in demand because India is an agrarian nation with fertile land that is fed by rivers. Almost 70% of rural households rely on agriculture for their primary source of income. These plots are unquestionably the largest in India. India’s economy is heavily reliant on agriculture, which occupies more than half of the nation’s total land area. There are plenty of open agricultural land spaces in less developed areas, but as they get closer to industrial hubs or cities, their prices soar.
Residential Plots
This is a vacant lot that will be used for housing. These plot types are the most sought-after of all plot types because they are used for one of the most important aspects of human life—shelter. These plots will unavoidably be close to any type of habitation, whether urban or rural. There must be a location for nearby basic amenities. Within housing plots, there are numerous subdivisions.
The following is a discussion of the various kinds of housing plots in India:
- Apartment or Flat Complex
These kinds of plots can accommodate a large number of people while taking up less space because they are dispersed over a sizable area. Each individual would live in a different-sized flat that could accommodate a different number of people.
The large, nuclear apartment complexes constructed on these types of plots might not be the best choice for the traditional Indian joint family. However, given the increasing demand for apartment buildings and flats, they are among the most well-known plot demands and purchases by the government.
The apartment complexes built on these plots are constructed with consideration for all income groups, including the EWS (Economically Weaker Section), LIG (Low Income Group), MIG (Middle Income Group), and HIG (High Income Group). The apartments for the various income groups are typically divided up into different blocks. Apartments, also referred to as flats, are dwelling units found in multi-family housing developments. India’s most popular housing option is residential apartments and flats, which are typically enclosed in high-rise or low-rise towers and blocks. According to the layout and available space, there are apartments for sale in India that range in size from one to five bedrooms.
- Individual Plots
These plots are designed for single-family homes. These plot configurations are suitable for a single family of various sizes. To build similarly proportioned homes, these plots are typically divided into sections of like-sized allotments. LIG (Low Income Groups) and MIG are the general income demographics that plot sellers target under these plots (Middle Income Groups). Other socioeconomic groups, however, can occasionally choose to purchase individual residential plots.
- Villas, Bungalow or Raw Houses
These plots are typically not too close to any other residential plots. They may not typically be as large as apartment buildings or societies, but they are lavishly dispersed over a sizable area. The residences built on these plots are similarly ostentatious. These kinds of lots are appropriate for high-end housing. These apartments have all the modern conveniences but require a lot of maintenance. This standard of independent living is the ideal for many would-be homeowners.
Additional examples of independent living include villas, bungalows, and row houses, all of which were built from the ground up on residential lots. While some work tirelessly to build luxury developments with comparable units, the majority of these are sold for resale or are constructed by people who own residential lots.
- Builder Floor Apartments
Apartments on builder floors are a common housing option for people who want to live independently without having to spend a lot of money. They allow you to purchase a floor (or a portion of a floor) in a low-rise apartment building. These floors are more expensive than cluster apartments, but less expensive than plots or bungalows.
The option to construct builder floor apartments has dramatically increased in popularity with mid-sized square plot types. A builder floor apartment gives you more freedom than shared, complex housing and requires less upkeep than individual housing. It allows you to own an entire floor of a low-rise building. The plot size is larger than separate housing, but it cannot be compared to the types of plots found in apartment complexes.
Builder floor apartments do have some drawbacks, though. The lack of a dedicated maintenance staff and access to amenities like personal gardens and swimming pools is a major drawback of builder floor apartments. These plots are bought in order to build housing specifically for the MIG and HIG groups. Sadly, those with lower incomes would not be able to support this way of life. They require individual plots in order to live independently.
Conclusion
Plot investments in the real estate industry can be among the most profitable ones if done properly. The value of any plot will increase as a result of the rapid increase in urbanisation and connectivity. The most important plot in India is still the agricultural plot, which makes up nearly 50% of the country’s total landmass and contributes 17–18% of the real GDP, despite the fact that housing plots are steadily growing into a lucrative industry.
