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Are you a senior citizen and looking to invest in property in or around Mumbai or Pune? If yes, then, New Lonavala could be the best location for you to make an investment. Now, the question is, what type of properties would be suitable for investment in the current market situation? Return on investment in apartments usually multiplies to a certain level at an excellent rate but after that, it stagnates. On the other hand, the return on investment in plots has no depreciation factor and it grows consistently over a period of time. So, in terms of return assurance, liquidity and investment cost, investing in a plot can be a better option than apartments. There is barely any space left in Mumbai and Pune for investing in plots, especially for small investors. However, this need not be a cause for concern, as you can still invest in plots at New Lonavala, which offers an opportunity for excellent return on investment. Investing in plots at New Lonavala offers many advantages to senior citizens. In terms of investment prospects, properties in New Lonavala have an edge over Lonavala. Let us compare both locations for more insights.
“New Lonavala and Lonavala are located close to each other. While Lonavala is now often crowded with tourists, New Lonavala is a pristine destination amid beautiful green hills. The climate of both, New Lonavala and Lonavala, are similar. In terms of connectivity, New Lonavala is situated within a 75-km driving distance from Navi Mumbai and is located between Talegaon and Lonavala. The Mumbai-Pune Expressway allows excellent connectivity via road to both locations. New Lonavala has additional attractiveness with a number of waterfalls and camping and trekking activities in the area. If someone wants to live in a peaceful area and prefers to live close to nature, then, New Lonavala should be the first choice”, says Raj Shah, director of Namrata Group.
Low investment and attractive return potential
Senior citizens looking to enjoy their retirement life, outside Mumbai or Pune, have many advantages of buying a plot in New Lonavala.
- Investing in a plot at New Lonavala does not require big-ticket investment.
- A plot at a good location offers better resale prospects.
- Senior citizens can use the plot to build their second home and enjoy a quality lifestyle, post-retirement.
- Plots allow greater flexibility in terms of designing, when constructing a home.
“Plots in New Lonavala offer great potential to build a property that one can use as a second home or as a weekend home that an investor can put out on rent. Many people in Mumbai and Pune regularly visit Lonavala, to spend their weekends away from the city’s hustle and bustle. They want to own a weekend property on a long-term lease. So, senior citizen investors can get great rental returns from such types of arrangements”, opines Shah.
Unlocking the rental return over the long-term, can allow the plot owners to wait longer for capital appreciation. Hence, a long-term investment in plots at New Lonavala can allow an investor to multiply the return manifold.
Great environment that suits senior citizens
Senior citizens would love a good climate and nature all around, for a healthy life and they cannot expect the same in cities like Mumbai or Pune. A pollution-free good environment is the hallmark of New Lonavala. Senior citizens can enjoy clean air and a traffic-free environs around their plot in New Lonavala. New Lonavala and Lonavala have common basic infrastructure facilities.
Things to keep in mind
While buying a plot, you must check all the papers carefully. It is always better to purchase a plot from an established developer with a good track record. Buying a bigger plot should be preferred, provided it fits in your budget. Bigger plots may cost you less in terms of value per sq ft. Depending on the demand, you can sell a part of the plot in future, if there is demand for smaller plots, or you can sell the entire plot at once.