Plot vs Flat

Builders have always wanted to squeeze out maximum profit from the piece of land that they have to convert it into a residential project.  it makes all the mathematical sense to construct a project with multi-story apartments.  This way they end up making more residences, and more residences mean higher earnings.

Consequently, for more than a decade now, Tricity (Chandigarh, Panchkula, Mohali) has seen the apartment culture taking over.  For various reasons more and more people are buying flats rather than a piece of land and construct their home themselves.

Having said that, there is a certain section of people which believes that there is nothing like having your own piece of land.  They want to build their dream homes their own sweet way.  Such home buyers do not find themselves settling to the idea of flats at all.

Tricity Property Searches digs a little deeper into this debate and weighs the pros and cons of buying a flat versus a plot.

Freedom of choice

There is nothing like buying a piece of land and constructing your own dream house. You can design your house the way you want to. You can take independent decisions about it before, during, and even after the construction of your house. While with apartments, you do not have that freedom of making those little picky choices.

You have to settle with the choice of either buying or not buying the product that the builder is offering you even if you find the location very attractive. As a flat owner, you do not have complete freedom of making your own decision if you want to make changes in the design, shape, or size of the residence.

Hassle with obtaining regulatory clearances

While there is nothing like designing your dream home yourself, it requires plenty of effort to get all the regulatory clearances yourself, and then the time and hard work you have to put in place to get it constructed. On the other hand in the case of apartments, the builder does it all for you. You just need to pay the price of the flat and move in.

Appreciation of property

As they say, “Buy a piece of land because they are not making it anymore.” Yes indeed! a house constructed on a piece of land will always have quicker buyers as compared to flats. We have seen that flats do not have as good a monetary appreciation in the future as enjoyed by the plots. Plots will always pay you a handsome return on investment in the longer run. The value of plots increases exponentially with time.

Thus if you want to buy a new house by selling your old one, as a flat owner, you may find it difficult to find a buyer at a price you want to sell your apartment at.

Scope of future expansion

You can go on to add additional floors on a house built on a plot, which means extra rental income or one can also sell the other floors independently to other home buyers. While flats never give you this flexibility and independence.


Since most apartments in Tricity are planned in a gated and secured society, they offer more security to you while that is not the case with plots all the time.

Tax regulations

Tax regulations and rules are also different for both cases. Securing a home loan for a builder’s flat saves you the tax based on the monthly loan repayment that you do. On the other hand, the tax deduction on interest is valid only after the construction has been completed.


While this is a never-ending debate, but a lot depends on how you want to live, what are your financial obligations, why do you want to buy a home, do you want to earn a rental income on that, or are you looking at selling your home in the future at an appreciated price. Flat or a plot, the choice is yours.

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