Land vs Builder Project, Where to Invest

Random thought came to my mind about whether it makes more sense to buy a plot of land or just put money into some builder project. Honestly it is so confusing because both sides have so many issues right now.

Everywhere you drive around these days, you see these massive hoardings for new pre-launch projects. But then right next to these high-rise towers, there is just empty ground with bushes and water tankers constantly moving around because municipal water hasn't even reached yet.

Saw a video online last week where someone was saying land is always better because flat values deprecate over time, or maybe they meant apartment appreciation drops once the building gets old? Didn't understand it fully. But then with builder projects you at least get something concrete and maybe some rental income, though if you look at listings online the rents don't even cover half the EMI anyway. Plus possession always gets delayed by a year or two.

But then land also has security issues if you don't visit it regularly. Prices look completely crazy everywhere right now for both things, not sure if it's even worth it.

Has anyone else stuck trying to decide between these two? Just feels like a gamble either way.