Everyone considers owning a property at some point. Whether it is for your dream home, starting a business, or making a wise investment, the real estate market offers diverse options. Let us explore the different types of properties you can find in India, making it easier for you to make informed decisions.
10 types of property in India
- Residential property
Residential properties are the most common and sought-after type of real estate in India. They include apartments, villas, independent houses, and flats. Residential properties cater to people looking for a place to call home and offer various amenities, such as security, recreational spaces, and convenience to nearby facilities. - Commercial property
Commercial properties are designed for business purposes. They encompass office spaces, retail stores, shopping complexes, warehouses, and industrial spaces. Investing in commercial properties can yield high returns, especially in thriving business districts. - Land
Land is the fundamental asset upon which all other types of properties are built. Agricultural land is primarily used for farming activities, while non-agricultural land can be utilised for residential, commercial, or industrial purposes. Investing in land can be lucrative, as its value tends to appreciate over time. - Industrial property
Industrial properties are specific to manufacturing and production activities. They include factories, industrial sheds, and manufacturing units. Investors often seek industrial properties due to their potential for rental income and long-term appreciation. - Farmhouses
Farmhouses offer a perfect escape from the city's hustle and bustle, providing a tranquil living experience. They are often located on the outskirts of cities and offer extensive land for agricultural or recreational activities. - Builder floor apartments
Builder floor apartments are standalone units constructed by builders on separate floors within a single building. These apartments offer more privacy and independence compared to regular apartments in large residential complexes. - Holiday homes
Holiday homes, also known as second homes, are properties bought for vacation and leisure purposes. They are typically located in scenic locations, hill stations, or near the coastline, providing a peaceful retreat from the daily routine. - Co-operative housing societies
Co-operative housing societies are residential complexes managed and maintained collectively by the residents. The property's ownership is divided among society members, each having a share in the society. - Bungalows
Bungalows are large, standalone houses, usually with a single level, though some may have multiple floors. They often come with expansive gardens and are preferred by those seeking a luxurious and spacious living space. - Heritage properties
Heritage properties hold historical and cultural significance and are protected by the government's conservation laws. Owning a heritage property can be a matter of pride and can also offer unique opportunities, such as converting it into a boutique hotel or museum.
Different types of property based on various criteria
1. Movable property and immovable property:
- Movable property refers to assets that can be physically moved or transferred, such as vehicles, equipment, and inventory.
- Immovable property, also known as real estate, includes land and anything permanently attached to it, like buildings and fixtures.
2. Private property and public property:
- Private property is owned by individuals or entities and is not owned or controlled by the government or the public.
- Public property belongs to the government or community as a whole and is intended for public use or benefit, such as parks, roads, and government buildings.
3. Corporeal property and incorporeal property:
- Corporeal property consists of tangible assets that have physical substance, such as land, buildings, and vehicles.
- Incorporeal property refers to intangible rights or interests that cannot be physically possessed, like patents, copyrights, and trademarks. These rights are often represented by legal documents or certificates rather than physical objects.
The Indian real estate market is a diverse landscape with a wide array of property types to cater to various needs and preferences. Whether one seeks a comfortable abode, a thriving business space, or a wise investment opportunity, the options are plenty.
If you are looking to leverage the value of your property for financial needs, Bajaj Finserv Loan Against Property is an ideal solution. It allows you to unlock the equity in your property without the need to sell it. Whether you require funds for business expansion, higher education, or any other purpose, Bajaj Finserv Loan Against Property offers competitive interest rates, flexible repayment options, and quick processing to meet your financial requirements.
