Is there scope for the Solapur real estate market players? Let us find out!
Being in a two-tire city Solapur has the potential where it is growing rapidly in every sector. When it comes to Real Estate Market in Solapur, It is growing immensely like a fire. The real estate players are growing more and more in numbers like the population of Solapur is also rising day by day. Big residencies like Indradhanu, Sun City, Landmark which is getting huge responses and people are investing. There is a drastic twist in the scale of the investors of Solapur city where the graph is growing higher and higher. Solapur Real estate Market will soon stand out to compete for the other real estate markets in the state as well as the country.
As Solapur is being on the path of becoming smart and has the potential where it is on the development stage the people are getting handsome money on their month-end. These people who are staying back in Solapur and thinking of growing their future in the Solapur city are the obvious people who will eventually think to invest in the plots and flats that you have put up for sale.
Let me tell you a story
A LIC worker who was earning 30 thousand a month had already taken a loan and invested in an open plot on the outskirts of Solapur city. This happened in the year 2002 where he had invested in the Jule Solapur area which had no demand then. Now when you take a look in that area has developed like never before and has the most potential people to spend the money. The uncle who invested in the open plot than in 2002 sold the plot for some lakhs of rupees in the year 2017 and bought a flat of his own in employment chowk where he wanted to live near his office. So here the moral of the story is he invested there in 2002 which contributed to the Solapur Real estate market as well as he sold the plot where he earned the profit and then again he purchased a flat in 2017 where he also contributed once again to the market and now he is again looking for open plots in Solapur where he is willing to invest certain high amount where is he knows that there is some potential in Solapur and the cycle will go on. So this was the story of a single person in Solapur city can you imagine there will be so many such people in Solapur who wish to invest and are actually taking action? And you already know the answer which is positive and yes the Real estate here has a good and potential people who can jump into this market and have a healthy competition in Solapur Real Estate Market.
Investing In a Plot
One should only purchase a plot of land if he is ready for a long-term investment. Investing in a plot of land, in the initial stages, can bring huge benefits and profits. The buyer can expect to get the best return on an investment after five to seven years of investment. But investing in a plot of land also comes with some problems. The owner must start work from scratch. From building a plot of land to employing architects, contractors, workers, etc., everything needs to be done by the owner. But this also gives the owner the flexibility to build his house according to his requirements. Before investing in a plot of land, a person must search for the location of the plot. It is often seen that the price of a property usually depends on the local area, so the central sites ask for an allowance while the real estate sites on the outskirts cost much less. Although plots located a little further away from the city may take a longer time to give a return on investment, with the growth of the city these plots get much higher profits.
Investing in an Apartment
Owning an apartment is a life choice for many people. One should buy an apartment, after doing through local research. People should buy an apartment only after measuring the growth potential in the area. Apartments generally give a better return on investment if they have the advantage of location. However, the rate of return on apartments also depends on many other factors such as communication, potential rental revenue, security arrangements, unit size, etc.
Many people also consider buying an apartment because it is a hassle-free investment option. Buying an apartment ensures that common facilities like electricity, water supply, standby power, etc. are taken care of. People don’t mind paying an extra maintenance fee if it saves them time and trouble. Apartments are also easier to sell.
Therefore, Solapur is on the path to be the most popular IT hub in the coming 4 to 5 years where is the best chance for the public in Solapur and around Solapur to jump into the Solapur real estate market and invest right now. This is the right time to invest in the plots as well as the flats which will be building up soon or are ongoing. Do not think too much just go ahead and start saving for your investment in the Solapur real estate Market which is about to blossom and spread a mesmerizing fragrance.