Buying real estate in India requires a ton of intrinsic thinking. It’s not just a big financial decision but also a future predictor of property returns. The benefit of owning an additional property in this sector are numerous in addition to owning one’s personal space it can also act as a separate income-generating asset other than capital gains. Although there are several financial asset classes that can grow and generate income and profit nothing beats the realty segment in Ahmedabad.
Not investing in real estate assets can also be considered a huge financial mistake as the returns promised on these assets are unmatched.
There are many different ways to make money Off of vacant land.
It’s advisable to thoroughly research the demand and suitability of the property before choosing a method to generate income.
Rentals
This is another popular method that ensures a side income from a residential properties. One can easily find a rental market availed for each and every configuration, ranging from 2 BHK, 3 BHK to 4 BHK, villas, and bungalows. One important factor to consider is the location with respect to the configuration and then it’s safe to invest. For instance, an area near CBD will obviously see an influx of working professionals choosing between a 2 BHK and a 3 BHK configuration, and vice e versa an area near educational institutions will see more students looking for a 2 BHK apartment. The rental return across several incoming locations in Gujarat like GIFT City, Ahmedabad, and Gandhinagar popular amongst working professionals while Vadodara is popular amongst students. It is favorable to invest in a residential realty segment as it will be lucrative in the future. Renting is one of the most common ways of monetizing a vacant second home, but that involves a long-term commitment. Alternatively, there are several short-term options.
Holiday homes
Listing a property for holiday rental is a short-term commitment for a few days and requires top-notch hygiene and year-round maintenance. Other essential features that need to be present include a working WiFi connection and a working water and electricity connection. Bungalows, Villas, and 3 BHK Flats in Ahmedabad and Gandhinagar’s outskirts, or near holiday destinations like Vapi accommodating several individuals at the same time are often great income generators. The classic architecture and interiors add the charm of increasing daily tariffs. The money can help in maintaining the property and adding to the existing features.
Shoots and advertisements
The property can also be listed for photo/video shoots to make a handsome amount of money in a short span of time. It’s advisable to check in with the local municipal authorities whether it is permissible to use a residential property for commercial purposes. The property also needs to be suitable for shoot purposes like unique architectural features, a desirable location near bustling cities like Vadodara, and spacious rooms. It must also be easily accessible and big enough to accommodate shooting equipment, along with having adequate parking space. Advertising the property to production companies by creating a listing on a location database or a directory of filming locations in the area. Alternatively, the home can be promoted on social media platforms.
