To own a land has been a dream for many! It gives us the ability and flexibility to build and design our dream house. Buying a land is considered a wishful commodity. It has become a matter of pride these days to own a piece of land. Additionally, it gives immense value in return and is considered a feasible investment for the future generation.
But to invest in any kind of property, it is important to follow some things to be on a safe end of the deal.
Ensure that the person selling you the property should have their name on the property. And that they also have the right to sell that property without the consent of any other person. The original deeds should be legally confirmed by the lawyers. You can even get the previous deeds for land verification. Before registering make sure that you get the release certificate
It is essential to receive a sales deed from the seller. This helps you know that the property that you are purchasing doesn’t belong to any builder, development authority or any society.
Tax receipts & Bills:
Before proceeding with the final payment, make sure that the previous owner has no existing dues like electricity bill, water bill, property taxes or any other outstanding payment. Ensure that you get it confirmed in the government and municipal offices for ensuring that all the receipts and bills are paid.
If there was any loan on the project make sure that you get a releasing certificate from that bank as it will aid with releasing the land against all the bad debts.
Measure the Land:
It would be a great deal if you can get your land measured with the help of authorized experts. The accuracy of the land can also be measured with the help of a sketch. That can be done by reaching out to the survey department.
The agreement should be signed after ensuring that legal and financial matters are taken care of. This is ensure that the owner doesn’t sell off the property to anyone else, or even change the cost of the property. It is important that there are two witnesses from both the parties when the agreement takes place, to avoid any troubles in the future.
The registration of land has to take place four months prior to the agreement. All the previous records with the witnesses are required at the time of registration. Remember, the registration acts as a proof that the transaction has been taken place.
Ensure the basic amenities:
Purchasing a property is a huge acquisition, and having basic amenities makes a huge difference for ideal property investments. Hence, it is important to know if the property around has basic amenities like power, water supply, proper roads and good connectivity to the city.
Buying a land can be a dicey affair, but now that you have this list. we known your worries are taken care of. And if you are looking for the best land investments in Hyderabad, TMR Group has got you covered. From Medchal to Shamirpet, or Yadagirigutta to Chegunta, we have thriving communities of plots at the city’s prime locations. You would not want to miss out on your opportunity in investing here. To know more about our group, visit https://tmrinfra.com/ today!