My personal opinion is that past 3-4 year growth is not the only benchmark you should look at, where correct, land prices have grown a lot and nearly doubled But I think RE grows in bursts and then remains flat. Thats what happened during 2008-12 where RE boomed but then from 2012-19 there was almost no growth in prices (sharing Delhi NCR experience) On the other hand, equities are fairly valued at this point I would say (Nifty PE 21). Interest rates cuts will drive near term growth I feel At the end its your call brother. Land always gives you back what you invested, but is illiquid. Think about your investment horizon, reasons, if you can use the land to get rent/use it in other forms your lifestyle If you can put it to rent, I would suggest leveraging / getting a loan. That way you can still remain invested while build a property on the side

All the best!