Real Estate has proven to be the safest investments even in this economic downturn period. This sector holds the capability to invite more investments towards its emerging projects which guarantee increased returns when invested timely and with proper investment strategies. This post is going to dig deep into the types of properties and houses where you can invest and make hefty profits with proper knowledge and information based on their categories, structures and scope. Understanding the different terminologies used in real estate sector and their possible scoped will help you to get enough insights to maximize your returns by strategizing your investment policy.
Types of Properties
The classification of properties is basically done on the purpose for which they have been developed. Anything related to land is a property and not only land but its developments and surroundings are also included under a property which gives you a right to enjoy their benefits. Here are some most common types of properties under which they are categorized:
Any piece of land, developed and used to build structures on it with an intent to do a business on it is known as commercial properties. It may be factories, commercial shop in Gurgaon, office buildings or even a large piece of land used for mining and extraction activities, all these fall under commercial real estate properties. The construction, purchase and selling of these properties are subject to government rules and regulations which are to be abided by both the parties involved in selling and purchasing. Office space in Gurgaon/Sohna road is much in demand for people looking for commercial properties.
As its name suggests, residential means, a place worth living. So, a residential property is something which is utilized to dwell in it. It can be an apartment, a bungalow, a row house or even a townhouse. All such buildings are covered under a residential property which are bought for dwelling purposes. The demand for residential properties has always been a boon companion for real estate sector as it attracts enough demand throughout a year irrespective of market situations and fluctuations. This also makes them a fit choice for investors to confirm their revenues by investing in such properties.
As told above that any piece of land along with its development is covered under real estate property. There are certain disciplines where land itself is a source for making money out of its use. For instance all types of mining and extraction processes for different minerals and ores are carried out on pieces of land which are allotted by the government. This baseline property typically refers to undeveloped and vacant lands where developers make their different use depending on its location, size and usability. Shops in Gurgaon have made efficient use of available land to offer open spaces along with different shops.
Types of Homes
When we talk about residential properties, homes are something which offer best opportunity for developers to gain returns on their investments as a large amount of population today, requires a home for themselves. We have diligently categorized homes based on their different purposes and structures which caters different preferences. Here are some most common types of homes which people like to buy for their dwelling purpose:
This is a type of home among many homes where each owner has its separate unit of home surrounded by other homes. The entire building is maintained and governed by an elected representative who makes decisions on behalf of all unit owners. Duplexes and triplexes are some of its examples.
Almost everyone is well aware of such types of residences where a group of housing units is developed in a single building where different units are owned by different people. The basic difference between a condominium and an apartment is that in condominiums, each unit has its separate owner whereas in apartments the entire building is owned by a single entity.
The concept of co-operative societies was developed with an objective to serve people by providing them a collaborative space for dwelling. These are rather developed voluntarily with a motive to offer residence to poor and weaker sections of the society. The motive is service rather than making profits in such case.
A bungalow is a large-sized, single-story building with a porch front ahead. The concept emerged right after initial stage of nineteenth century but is quite common now and can be seen over different countries including India. A bungalow is meant for a single family use where all amenities for dwelling purpose are created and developed.
The term originated from Britain where farmers used to develop a small residence generally made of wood and straws in earlier times. But as the time flew, there were several modifications made to this version and these traditional cottages are now turned into beautiful residences. However, the trend has not been followed now on a larger basis.