Residential property is any building or unit zoned and intended for use as living space. It is one of two types of general estate, the other being commercial property. Residential property is typically owner-occupied, but it’s not always the same. According to industry standards, any property with less than five units not for commercial use is residential. Commercial properties are more expensive and have a mix of residential and commercial use. 

India has residential properties to suit a variety of lifestyles, preferences, and budgets. Understanding the various types of residential properties available is essential for making an informed decision, whether you are a first-time homebuyer and investor or looking for a second home. This blog will look at the various types of residential properties available in India and assist you in deciding which one is best for you. 

Types of Residential Properties 

Floors for Builders 

In low-rise buildings, builder floors are self-contained residential units. A different person or family owns each floor. Builder floors combine the convenience of shared infrastructure, such as water supply and security, with the benefit of independent living. 

Gated Communities 

Residential complexes with controlled access and shared amenities are known as gated communities. They provide a mix of apartments, villas, and row houses in a secure setting. Landscaped gardens, clubhouses, sports facilities, and 24-hour security are popular features of gated communities, which provide a holistic living experience. 

Plots 

Plots are parcels of land that are available for sale for residential use. Buying a plot allows you to design your own home. It also lets you choose the type of construction, layout, and materials you want. 

Apartments 

Apartments, also known as flats in India, are the most common type of residential property. They are usually part of multi-story buildings with individual units. Apartments come in different sizes, from small studio apartments to large penthouses. Furthermore, they frequently include shared amenities such as parking, security, and recreational facilities. 

Independent Houses 

Independent houses, bungalows, and standalone houses are single-family homes with no common walls. As a result, they provide increased privacy, freedom, and space. Independent houses are ideal for those seeking exclusivity and the ability to personalize their home. Individual homes are for those seeking exclusivity and the ability to personalize their home. 

Villas 

Villas are luxurious standalone properties that provide plenty of space, modern amenities, and a high level of customization. They frequently include private gardens, swimming pools, and exclusive amenities. Villas offer a luxurious living experience and are popular among wealthy homebuyers. 

Reasons to Invest in Residential Properties 

Real estate is an excellent investment option because it can generate passive income without triggering income tax provisions. Investing in residential properties ensures that your long-term returns are higher. A residential property’s value rises over time, making it an effective strategy for beginning to accumulate wealth. 

Here are some reasons to invest in residential properties 

Increased and consistent rental income

The vast majority of home investors’ per capita standard of living has risen due to the rise in rental income. Home buyers can earn substantial rental income, leading to a peaceful life. The housing rental market is increasing the country’s economic engine, and any economic development will result in higher rents. As a result, even if you raise the rent, there will always be a supply of tenants. 

Affordability 

Residential properties are known for their competitive pricing, which boosts interaction between potential buyers of flats and apartments. The absence of a business incentive is one of the major distinguishing features of residential housing. The lack of profit-driven behavior stabilizes the housing market because developers know that raising apartment prices will result in less demand. 

Additionally, it is essential to understand how to invest in residential properties, monitor upcoming real estate market trends, and watch for the growth of contemporary infrastructure and transportation options.  

Tax benefits 

Residential properties are exempt from taxes and GST. Furthermore, income from investments in residential property is not subject to self-employment tax. But to be cautious, ensure the appropriate consultations occur with tax professionals before investing your money in any property. 

Investors can reliably grow their savings without risking any risks by investing in residential real estate, which gives them a sense of security. More security during trying times and protection for your investments are home. 

Conclusion 

Your lifestyle, preferences, spending power, and long-term objectives will all play a role in helping you choose the ideal residential property in India. Independent homes and villas offer more privacy and customization options than apartments while providing convenience and shared amenities. Gated communities offer a safe and well-equipped living environment, whereas plots let you create a home that is uniquely yours. Builder floors strike a balance between individual freedom and communal facilities.