I got a plot (1200sq ft,for 1450 per sqft) in 2009 at BDA employees layout, adjacent to Bank officers colony, Kanakapura road. My intention at the time of purchase was to construct house after 2-3 years and start living. Of late i realised that owners (90% of them are employees of BDA) of the plots in this layout are niether intrested to construct houses nor in selling. As of now 2-3 houses have been built (out of 300 plots).
Now I am thinking of buying an apartment near kanapura road, like pride spring fileds which is coming around 56 lakhs all inclusive for 3bhk flat.
My questions are:
1. Does it really make sense to sell my plot (running rate is around 3200 per sqft) and go for apartment?
2. In case if i decide to keep the plot for another 10 years , is it really worth?
Can it really fetch me profit after 10 years form it's current market value (3200 per sq ft) ?
Appreciate your advice on this.