Here’s all that you need to look into before buying a plotby Ashok Nandavanam Ashok Nandavanam
Investment is usually considered profitable if it promises great returns in future. And of all the different forms of investments buying land holdings is considered the best form of investment as the value of land always appreciates over time and the investor is sure to gain. However, to rest assured that the property bought was indeed worth the price and will give great returns in future you must keep a few things in mind while making the purchase. Here’s more on all that you need to look into before buying a plot.
Location: A land parcel that you may be planning to buy must be strategically located in a place that is well connected to all parts of the city via different modes of transport. Also, the land parcel should neither be too close to main roads nor be so deep inside that it becomes inaccessible. A good location not only increases the resale value of the land but also ensures that the buyer can use the property in future as per his/her liking, without having to worry about accessibility.
Connectivity: Whether you are buying plots in Manali in Chennai or Kolkata in West Bengal this is one factor that you must always be careful about as lack of proper connectivity will not only create troubles for you in future but will also retard the areas socio-economic development. As such, an area that is well connected by roads, railways and buses must always be preferred over one that may be posh but lacks good connectivity.
Legal Clearance: The legal
formalities involved in buying an apartment, especially those in a complex are
much simpler than those involved in buying a plot of land. As such, when you
plan to buy a plot you must perform due diligence and carefully scrutinize all
the documents. The title deed which should trace the ownerships up to about 30
years back, the NOCs from various government organizations, the permissions
related to water and electricity, the encumbrance certificate as well as the
sale deed are a few documents that must always be scrutinized very carefully.
Ideally, to avoid any kind of misrepresentation in these documents it is always
considered best to buy plots from reputed real estate developers.
Registrations: When buying a plot in any municipal area you must also verify whether the same is approved by the local municipal body of the area as otherwise the purchase or even any kind of construction erected on the property can be categorized as unauthorized. For instance, if you are buying plots in Manali in Chennai, you must find out whether the same is registered under the CMDA or DTCP which are the local planning and governing bodies in Chennai.
Vastu: Last but not least this is one very important aspect that must be taken into consideration when buying a plot of land. Vastu compliant lands ideally have the best positioning in terms of natural illumination, topography, the convenience of use and other such aspects and as such it is always best to buy such plots.
Created on Dec 28th 2021 03:42. Viewed 131 times.