A parcel of land that is owned by an individual and dedicated for a special purpose is called a "plot of land." Plots in Mumbai have been allotted for various purposes, like agriculture, single-family residences, builder projects, factories, and the logistics industry.
However, the main subheaders that plots are divided into are three: residential plots, commercial plots, and agricultural plots.
Residential plots, as the name suggests, are parcels of land sold for the purpose of constructing living quarters. These dwellings can range from single-family homes to residential societies.
Commercial plots are zoned for only commercial constructions. In case you wish to dedicate a part of your upcoming construction on a commercial plot to residential purposes, you can do so. However, you would be required to officially apply to the local municipal corporation and get the planning permission associated with the same.
Agriculture plots, as the name suggests, are plots that can be used solely for agricultural purposes. Agricultural purposes can be categorized as both the rearing of livestock and farming. If the government has planned some infrastructure projects, then the agricultural plot can guarantee a long-term return.
Institutional plots are those zoned to be used for the construction of schools, colleges, headquarters of organizations, and other institutional buildings.
An industrial plot is a land used for warehousing, factories, and other logistics infrastructure. Since the environmental impact of industrial infrastructure can be much higher than any other construction, and thus, industrial plots require a much longer process to be built in Mumbai.
Many people prefer plots since they are a much simpler investment as compared to constructed property. Plots are less expensive than fully built properties and also carry fewer risks. Buying a plot in Mumbai also comes with the same benefits as anywhere else in India.
Here are a few tips that’ll help you buy the best plot as per your needs.