7 Must-Do's Before Investing In A Residential Plot
Investing in a residential plot to build a house is a dream for many. And you're about to embark on that dream. But such an investment can prove extremely expensive, and thus requires you to lay the important groundwork before taking leap. The Green Avenue Shamshabad offer this ready to construction plots at an affordable prices, with all necessary amenities, are available to the customers, for example Black Top Road 40ft,30ft and 25 ft, Water supply,Three (3) phase Electricity Supply, Avenue Green Plantation, Transportation Facility (Bus, Cabs & other Services), 24 hours security.Please call us to arrange a visit for you and your family to this wonderful site. Genuine interested buyers are welcomed.
Read on to know the 7 things you must do before making the investment.
1. Check The Seller's Right To That Land
After zeroing in on a plot of land, you should confirm the seller's right to that land by asking him for the original title deed, and getting it verified by a lawyer. If the land has multiple owners, make sure that all of them are accounted for and that they are all on board with making the sale.
2. Verify All Relevant Land Documents
There are several land-related documents that you'll need to collect and authenticate before deciding to invest in the land. Request for a certificate clearing the land of all legal dues and disputes. In fact, ask the seller for the parent document, as well.
In addition, collect other important paperwork, like the sale deed, land revenue receipts, the stamp duty document, and a release certificate from the bank. The best thing you could do is ask your legal counsel to list out all the documents that you must obtain before investing.
3. Check The Land Zone As Per The Master Plan
Make sure that the plot of land that you've selected doesn't fall under the agricultural zone. Also make sure that the plot doesn't fall in a reserved land area, because in that case the responsible authorities will ask you to evacuate the land later.
4. Inquire About The Land Approvals
Find out everything about the approvals the land has received in the past, be it from financial institutions or local body corporations. However, you shouldn't solely rely on bank approvals for the land. Check for sufficient approvals by the relevant city development corporation.
5. Find Out About The Connecting Roads
Look into the general accessibility of the land via the connecting roads. Ideally, there should be a deeded right-of-way, which gives you the authority to build a connector road later, if you wish to. Also, make sure that these roads are officially under the local body, so it can manage the plot's maintenance.
6. Carry Out An Elaborate Site Visit
Visiting the plot site in question is the best way to find out about the general condition of the land. You need to check if the soil is strong enough to support construction in the future. In addition, find out the condition of the plot and the nearby areas during the rainy season.
7. Apply For A Bank Loan
After you are satisfied with your cross-examination of the land in question, you can apply for a land loan with your bank. Land loans have the same interest rates as home loans, but require a larger down payment to be made for it.
Related Link:
Real Estate
Read on to know the 7 things you must do before making the investment.
1. Check The Seller's Right To That Land
After zeroing in on a plot of land, you should confirm the seller's right to that land by asking him for the original title deed, and getting it verified by a lawyer. If the land has multiple owners, make sure that all of them are accounted for and that they are all on board with making the sale.
2. Verify All Relevant Land Documents
There are several land-related documents that you'll need to collect and authenticate before deciding to invest in the land. Request for a certificate clearing the land of all legal dues and disputes. In fact, ask the seller for the parent document, as well.
In addition, collect other important paperwork, like the sale deed, land revenue receipts, the stamp duty document, and a release certificate from the bank. The best thing you could do is ask your legal counsel to list out all the documents that you must obtain before investing.
3. Check The Land Zone As Per The Master Plan
Make sure that the plot of land that you've selected doesn't fall under the agricultural zone. Also make sure that the plot doesn't fall in a reserved land area, because in that case the responsible authorities will ask you to evacuate the land later.
4. Inquire About The Land Approvals
Find out everything about the approvals the land has received in the past, be it from financial institutions or local body corporations. However, you shouldn't solely rely on bank approvals for the land. Check for sufficient approvals by the relevant city development corporation.
5. Find Out About The Connecting Roads
Look into the general accessibility of the land via the connecting roads. Ideally, there should be a deeded right-of-way, which gives you the authority to build a connector road later, if you wish to. Also, make sure that these roads are officially under the local body, so it can manage the plot's maintenance.
6. Carry Out An Elaborate Site Visit
Visiting the plot site in question is the best way to find out about the general condition of the land. You need to check if the soil is strong enough to support construction in the future. In addition, find out the condition of the plot and the nearby areas during the rainy season.
7. Apply For A Bank Loan
After you are satisfied with your cross-examination of the land in question, you can apply for a land loan with your bank. Land loans have the same interest rates as home loans, but require a larger down payment to be made for it.
Related Link:
Real Estate
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