Investment is a crucial decision to make; the decision possesses not only a big amount of hard-earned capital, but the value of forthcoming life, which could be used in various collaterals. Real estate industry is the most sought after investment opportunity and one which eventually produces desirable returns. Investing in land is always the safest option to convert your capital into the landscape of appreciation. The land is considered as gold these days because it is a scarce commodity, and again no one is producing land so the value always appreciates after investment. With the growing development lot of people are engaged in investing in lands. When it comes to deals of real estate, plots are among the best investment options.
A plot does not mean a piece of land surrounded by brick barriers. Plots are the investment made with a vision of building a home on that place, so unplanned and un-equipped plot lands are capable enough to ruin our house building dreams. Real estate sector investment is widely considered as a risky affair, due to the encountered cases of disputed lands, pitfalls, residing structure, and lack of facilities.
Indian economy is at the crossroads of tapering inflation down, and it is being observed that a high population is migrating to the metropolitan cities for employment and educational opportunities. The shift in the dynamics of economic results is opening the doors for various sectors and real estate is one of them. An increase in population will eventually lead to the growth of property buying, so while buying one should take certain measures about the authentication of their investment, which is made with the aim of a secure future.
Is the land on the name of the builder?
The case of fraud in land investments is not unknown to us, many builders either buy the entire land from the previous owner or enter into a joint agreement with the owners to sell or develop the land and sell the plot scheme. With the help of legal advisors (ignore all the recommendations), make sure that your part is clear and never rely on anyone, only self-analysis of land and its papers could be of major help to protect your property.
Look for “NA – Residential” Plot
As a buyer, you should have the clear idea about the usage of the property, undoubtedly plot is quiet flexible assets in these terms, but ensure that the selection of land should be on your terms of livability and preferences. Check whether the plot of land you are planning to buy is “NA-Residential” or not. Ask them for a copy of that. Conversion of land is a lengthy process, try to keep yourself out of it.
FSI for the plot?
There are certain rules on every piece of land which make up the Floor space index. FSI simply means how much construction can be done on a piece of land and significantly depends on the location of the plot.
Make a proper check on Sale Agreement
You will often hear about the “agreement to sell” which is executed when reserving the plot and clearing your initial payments. Having pre-approved and well-checked documentation can let go of half of your problems. So never hesitate to check again and again, because transparency is the key! Search the RERA numbers and whether your plot is DTCP approved or not.
Always ask certain questions about basic amenities like:
1. What about Electricity?
2. Are they going to arrange for an individual electricity meter?
3. How much are they charging for it?
4. If the plot/land is too much away from the main road, then what about the access road?
5. What about the fencing of plots?
6. What about security?
Here are some steps which everyone must follow while investing in Land.
> Make more than two visits to the plot
> Check the nearby development yourself
> Talk to people nearby the properties
> Search online about the plot scheme or the area of land
It is advisable to buy land from a renowned plot developer, as the master of this industry, they can always help you grab the best real estate deal. TMR Group offers the best residential plots with extraordinary infrastructural facilities and transparent documentation within budget. Buy RERA approved plots for sale at the serene locations of Hyderabad with TMR!