RESIDENTIAL

Residential

Any land, plot, parcel, lot, tract or area of land including any building used primarily or intended to be used for owner-occupied housing or tenant accommodation constitutes residential land. Single-family housing, as well as multifamily units, can be constructed on residential land to qualify as residential property. A piece of land is zoned for residential use by the local development authority or the department of town and country planning. But, you can use it for other investment purposes such as making rental income and, under certain special circumstances, for commercial or agricultural purposes. Investing in land is significantly different from purchasing a built property. ROI – residential land or non-residential land? Little do the buyers realise that there are various types of non-residential land, each having its own set of challenges and prospects of growth. If you are facing this dilemma of which type of land property to buy, it is essential to understand the types of land parcels and the kind of returns on investment you can get from that piece of land Residential land is primarily used for building a dwelling unit for a single-family or building a multifamily condominium or apartment building. The other use of the land is for investment as a rental property. "This time to invest in your dream".