Tips for buying a plot

Hello! Owning land is not an easy task as you think? There are certain rights, wrongs and implement procedures that need to be taken care of when owning a plot or home.

My Personal Experience on buying a plot

I have personally visited a few plots over the last few years. I have interacted with the sales peoples and have plenty of experience in this area. Thus, I would like to share whatever I know with you. Here, I have listed a few factors that you need to take care of before purchasing a plot or land. Let's have a look?

Factors to check before buying a plot or land area

Location

Well, this is an important step as you need to be considerate while choosing the location. Firstly, do not fall prey for less priced land in outskirts of the city. So, the preliminary step, I would suggest is sit with your family and determine the location you want. Size of the land You should have a clear concept in your mind like-how much land you would like to use as a built-up area. Also, think whether your dream house will fit in that land or not. Besides, this note that topography and soil are the two major factors you should consider before getting a plot.

Type of land

Generally, there exist two types of land area. One is developed and other is un-developed. Developed land area/plot includes all the facilities like water supply, power supply and proper sanitation. Similarly, if you choose an undeveloped land you will have to bring in all the basic facilities to it. So, its better you choose wise, rather than suffering afterwards.

Value of the land

This is another essential step, where you make sure to consult the real estate agents and know the exact value of the land instead of simply rushing blindly. If all these initial checks are done than you can negotiate the price of the land.

Spend time researching the market

There is a large variation in land values being achieved at present, ranging from 50,000 to 1 Lakh per cent depending on the location and quality. So, you need to spend time gathering the market value, in order, to pay a reasonable price for your land.

Check for Title deed of the property

Never ignore this step as title deed of the property includes all basic information like Name of the owner of the property,  location and other related details.

Encumbrance certificate

Look for this certificate which is available at the area sub-registrars office wherein the deed of the land is registered. This is really important as this certificate will reveal the prevalence of the legal disputes (if any). Besides, you will get the complete history of land transactions through verifying these certificates.

Prepare documents

For this, you may consult an advocate or you may get the land documents ready with the help of a document writer (the person one who has a government license). Also, make sure that all the details are accurately mentioned in the document.

Plot registration

Always make sure that fresh documents are written and never pave way for the duplicity of the documents. The land should be registered in your name at the sub-registrar office. Remember, the land rate and registration expenses bearded should be mentioned in the document.

Alas, always treat your purchase as a big investment. So, as initial steps do your homework until you reach a comfort zone.