Legal Documentation Archives - Page 11 of 11

3 mistakes to avoid while buying a plot

April 24, 2020February 17, 2021 admin Leave a comment

Buying a plot is one of the most important decisions that we make in our lifetime, as it involves careful consideration of a wide range of factors. Investing in land has several benefits which can be experienced in the short-term and the long-term as well. As Hyderabad grows and expands its boundaries, the city’s outskirts promise numerous opportunities for procuring your very own residential plot. But one has to ensure that they avoid these 3 very critical mistakes while buying a plot to avoid disappointment and regret in the future.

Choosing the wrong location to save money:

Doing adequate research while looking for a residential plot to buy is extremely important. After all, investing in land is an endeavour towards securing a prosperous future. Plotting projects can be situated across the state in a variety of locations. Some locations may feature plotting projects that cost much less than other location that popular and highly desirable. You need to zero down on a location keeping in mind factors like excellent civic infrastructure, proximity to local transport alternatives such as trains or buses, and scope for development in the future. It’s factors like these that decide the appreciation of your plot and the returns that you get in the future.

Buying a plot from an unreliable source:

Once you have decided upon a location that is the most suitable for you, the next important task is to look for a reliable and trusted developer that has clear title residential open plots for sale. This is very important because with a trusted developer of plots, you can rest assured that you will not become the target of fraudulent land selling practices. Another major reason why you should only prefer a trusted plotting property developer is the documentation. Without transparent and clear documentation, your plot may be vulnerable to a deceitful sale that may further result in tedious legal hassles.

Choosing a plot without the government approved layout:

The recent amendments made by the Telangana government are a boon to prospective plot buyers as they effectively streamline the process and reduce the possibility of a spurious land sale. Additionally, the new reforms are much stricter on the aspect of government approved layout. That’s why its essential to choose a plotting project that offers a HDMA approved or DTCP approved layout, depending on the area and locality. This ensures that your plot will be properly demarcated and will have the necessary infrastructure for facilities like water, electricity and so on.

TMR Group has a rich legacy of land development in Hyderabad, with 16 years of core expertise in plotting projects. A trusted plots developer with a long history of customer satisfaction, TMR only offers clear title gated community open residential plots for sale. The plotting projects are built on thoughtfully chosen locations across Hyderabad and Telangana to increase the potential for high returns on affordable investment. Furthermore, TMR Group is among the few leading developers that always offer plots with transparent documentation and government approved layouts. Choose TMR Group to secure your future with the right investment in land!

Amendments made by Telangana government on illegal plot layout are a boon to plot buyers

April 18, 2020February 17, 2021 admin Leave a comment

Hyderabad has been an important city of India, historically, culturally and commercially as well. The wide range of opportunities that one can experience in the cyber-capital of the country are limitless. As such, the city attracts individuals from not just the state but also the entire country who come here to work as well as settle down. While the main areas of the city are now getting congested due to widespread development, the outskirts are showing great promise in terms of land availability, prices and long-term value.

We all harbour hopes of owning piece of land that we can call home and retreat into during our twilight years. Owning land brings with itself numerous advantages as an asset. Land ownership promises great returns in the future, but investing in land also comes with its own set of challenges. Merely owning any piece of land is not enough. For better returns and complete satisfaction, it is essential that you own 100% clear title gated community open plots created by reputed and trusted developers.

While fraudulent practices had by and large given a bad name to the practice of buying plots, the amendments done by Telangana government are a ray of sunshine for buyers that are looking forward to investing in plots. Look out for these two important factors that will protect your interests as a plot buyer and owner:

Government approved layout:

The thing to note is that in case of municipalities and municipal corporations in HMDA limits, the HMDA will regularise the plots and in case of other municipalities and corporations in other areas, the Director of Town and Country Planning (DTCP) will regularise but the applications have to be submitted to the respective civic bodies. Under the 2019 Municipalities Act, the authorities are entitled to ask the registration department to not register open plots in illegal layouts. That is why you, as a buyer must always opt for clear title open plots from developers who only build according to the government approved layout. Trusted developers such as TMR Group provide complete transparency and develop only according the HDMA approved layout.

Clear documentation

The Telangana Government has recently taken a major step towards stopping the sale of properties without necessary approvals. This means that before purchasing a residential plot, you must take into consideration the background and history of the builder, verify all the documents and find out if the land is under any litigation issues or not. As discussed earlier, Layout Compliance is extremely important as well so transparent documentation and a legacy of customer satisfaction is necessary while choosing the right plotting developer. You need to ensure that you have the right 7/12 extract. The 7/12 extract is important because it serves as a proof of the land title. It can be used to check any previous conflicts associated with the property. This is another reason why buying a plot from a reliable plotting project developer instead of an individual is more advisable as it simplifies the process and smoothens out the hassles in documentation.

If you are looking forward to invest in land in Hyderabad & Telangana, TMR Group can help you achieve your goals of prosperity with the best plotting projects. Rooted in 16 years of trust, transparency and ultimate customer satisfaction, our projects have helped our ever-growing customer base enjoy amazing returns on affordable investment. With RERA & HDMA Approved projects featuring DTCP Approved Layout, our fully clear title plots at prime locations in Hyderabad & Telangana are your opportunity to rise with your land, your prosperity.

THE IMPORTANCE OF LEGAL DOCUMENTATION WHILE BUYING PLOTS

March 6, 2020February 19, 2021 admin Leave a comment

Imagine waking up to the sounds of birds chirping as gentle rays of the sun brighten your cozy little garden. You sit with your family enjoying a morning breakfast in your very own sit-out. All of this is possible only when you own a plot, and that’s why it is often considered a dream investment. Buying a plot is also an emotional investment. Owning a piece of land has several long term benefits from a returns perspective. But at the same time, buying a plot of land calls for a higher degree of precaution as the legal documentation is a little different from that of buying a residential property. This increases the risk of duplicity and in some cases, even fraud. The best way to safeguard oneself against such unfortunate occurrences is the ‘7/12 extract’. It is document that provides complete information about a land property including details like:

Name of the owner
Survey number of the land
Size of the land
Type of the land – N/A or not
Location of the land with respect to infrastructure facilities like water bodies and roads
Loan extended to the land owner

The 7/12 extract is important because it serves as a proof of the land title. It can be used to check any previous conflicts associated with the property. Buying a plot from a reliable plotting project developer instead of an individual is more advisable as it simplifies the process and smoothens out the hassles. In case you are buying a plot from an individual, it is important to check if the property is free from any litigation or not. Even in such cases, the ‘7/12 extract’ comes handy as the Court may require the land record proofs in case of any civil litigation and the document is also useful for sale transaction at Sub-registrar’s office. The document can be availed from the revenue department of the government against a nominal fee. In case of mutation (transfer of ownership) the document is to be submitted with the name of the new owner. Transfer of property title is done through sale deed.

In addition, if the owner wants to raise a loan from the bank, 7/12 extract is essential. Thus from a buyer’s perspective, it is imperative to scrutinize the documentation with a fine-toothed comb to avoid any hassles at later stages. Another factor is the availability of good infrastructure and easy accessibility. Buying a plot within a plotting project gives you the benefit of well planned basic infrastructure such as paved roads, electricity and recreational amenities as well. Even a large plot bought cheap would be difficult to develop and live in if these basic requirements are not fulfilled. Buying a plot that is RERA Approved or HDMA Approved where applicable, usually solves your basic governmental clearance issues. When it comes to certain parts of Hyderabad, having a DTCP approved layout is always preferred as it comes with a host of infrastructural advantages. That’s why you should always go for a plotting project that offers both RERA Approved plots and a DTCP Approved Layout.