Plot Vs. Flat: Which is a better investment option?

Ans:  Flats often require less maintenance compared to independent houses because building maintenance and common area upkeep are managed by the housing society or management. They also usually offer amenities like security, parking, and sometimes recreational facilities, which might be costlier to maintain in an independent house.

Ans: A plot suitable for building a house should have good access to roads, utilities (like water, electricity, sewage), and be in a location that meets your needs (such as proximity to schools, workplaces, and shopping areas). The plot's soil quality and slope should also be considered for construction feasibility.

Ans: Yes, GST (Goods and Services Tax) applies to the purchase of flats from developers or builders. The rate of GST on under-construction properties is typically 5% without Input Tax Credit (ITC), while ready-to-move-in flats are generally exempt from GST.

Ans: People often prefer plots because they offer more freedom for customization and construction according to personal preferences. Plots also tend to appreciate faster in value, and there is usually more privacy and space compared to flats in high-rise buildings. Additionally, owning a plot can sometimes offer more flexibility in terms of usage, such as building a home, office, or both on the same property.

Ans: Commercial real estate is subject to a 12% general sales tax. GST will not be charged for the sale of owned land. Neither the landlord nor the tenant must pay GST if the tenant is a resident and does not operate a business from the property.