A ‘Good Plot’: The basic checklist
Things to remember while buying a plot.
Product research is one of the basic tenets every buyer should follow, no matter how big or small the purchase is. The bigger the investment, the more rigorous the research needs to be. And, when it comes to big buys, land is one of the most expensive and important investments in a person’s lifetime. However, there are many pitfalls to watch out for in real-estate investment. With plotted developments becoming increasingly popular in recent years, it’s important to know how to avoid them. Here are some of the most crucial aspects that people tend to overlook while buying land.
Location: The Paramount Factor
The ‘Where’ is the most important factor in buying land. Where is it located? Is it a crowded or congested area, or one that instils a sense of calm and peace, basking in the beauty of nature? Is the location you have chosen known to be a good residential area with a good record of safety and law and order? Are you buying a plot from a reputed developer like Purva Land, whose projects are gated communities with unbreachable security? These are the questions that one should consider before finalising the deal. Another absolutely important factor is connectivity. Whether for living, reselling or renting, the quality and the return on investment depend on how connected a location is with the rest of the town/city. So, check out if there are good roads. Connectivity to the suburban railway or Metro will be an added advantage. Check out every seemingly minor detail; they will become crucial eventually.
The Amenity Angle
When conducting research on the location of the land, do not overlook its proximity to amenities and the quality of social infrastructure. Top-notch healthcare facilities and educational institutions are two of the most crucial aspects of good living. In this day and age of hectic work schedules and travel, it’s equally important to have entertainment centres nearby. Restaurants, supermarkets, pet care…make sure to tick all the boxes.
Look Into The Lay Of The Land
This is as important as the location of the land you are buying. Make sure to check if the plot is located too high or too low. If your land is located too low, make sure there’s no risk of flooding during the rains. And, if it is on a slope, is there the possibility of soil erosion or landslides during heavy monsoon? Ensure otherwise. Another important factor is sunlight. Check if there is anything obstructing direct sunlight to the land. When zeroing in on land to build a house, it’s important to choose one that is connected with nature.
Right Developer: The Deciding Factor
Almost every day, we hear about minor/major scams in real estate, where people have been cheated out of their life savings. So, choose a developer whose name is respected and trusted in the market, someone who is known for delivering what they promise, someone for whom the buyer always comes first – a name like Purva Land. Every plotted development project by Purva Land is a dream buy where all your questions and concerns are already addressed. Be it the location, the lay of the land, connectivity or social infrastructure, Purva Land is known for exceeding expectations. We preempt every need and desire of our buyers, thus guaranteeing them a lifetime of exemplary experience.
Deciphering The Documents
How does one ensure that the land is absolutely legal and its ownership clear? Well, before finalising the buy, make sure to check the following documents thoroughly. It’s advisable to consult a lawyer to avoid mistakes.
- Title Deed: Check if you are being given the original title deed; do not settle for a copy. Make sure that the land you are buying is in the seller’s name and that there are no legal tangles involved. It’s also important to check if there are multiple owners. This information is easily available on any state government’s land registration website. In case there are multiple owners, each one’s consent becomes mandatory.
- Encumbrance certificate: The EC is issued by the sub-registrar’s office for a specific period of time. It is an extremely important document, as it provides evidence of ownership/free title. You need to show the EC to obtain a home loan.
- NA Order: In India, all land is considered agricultural land by default. So, if you are buying land for residential purposes, obtain a Non-Agricultural (NA) land certificate.
At Purva Land, paperwork is something that you need not worry about at all; every plot comes with a clear and vetted title, and the entire process – right from site visit to registration – is a transparent process that leaves no room for doubt. All the requisite government permissions are in place, being handled by a team that’s experienced and efficient.
Money Matters
The land is an expensive investment. So, before agreeing on the price, do thorough research on the realty rates in the area to avoid overpaying. We cannot emphasise enough the importance of a reputed developer in this regard either. At Purva Land, every deal is of utmost transparency; for us, creating matchless living experiences for you is as important as building your trust.
If you are seeking financial assistance, approach a trusted and reputed institution. Take time to analyse the micro market and its growth prospects before signing on the dotted line, especially if you are seeking to resell further down a period of time. Buy any land only if it assures a good return on investment.
The Key ‘W’s
Buying a plot is an excellent idea – as an investment or to give shape to your dream home. But, always remember the ‘W’ factor – Where (is the location)? What (is the ROI)? Who (are you buying it from)? At Purva Land, you will find happy answers to all these questions. Your trust and happiness are our biggest assets. Our plotted developments are much more than pieces of land – they are promises of trust and a glorious future.
Make sure that you are overpaying. Do thorough research on the realty rates in the area. Equally important is getting financial assistance from a trusted and reputed bank.
Conclusion
The popularity of plots has witnessed a boom over the past couple years. With a lot of people investing in land or building homes on plots, it’s easy to get carried away. Buying a plot is an excellent idea, but make sure you take your time to do it.