Published on Monday,
Investing in land, is an important decision, and a substantial amount of research must be undertaken so as to make an informed choice. Thankfully, there isn’t a shortage of options, when it comes to purchasing a plot of land today. There are a lot of viable plots worthy of investment and it is easy to get overwhelmed or lost in the multitude of choices. It is in situations like these that making a checklist, before investing in land, makes sense. Below are the points that one must consider, before buying a plot of land:-
Value:- The plot must be backed by a reputed builder, someone who has a good verified history and a solid market reputation. Accessibility, location, price and the potential return on investment are other factors that depend greatly on the builder. Reputed builders will have suitable plots that are ideally located, and with a good value, one that is unlikely to fall in the future.
Clear Title Deed:- The land should have a valid title deed, validated by a suitable legal authority. A title deed is a legal document proving the person’s right to property. It is prepared by an advocate after studying the property and confirming that everything is in order. As a buyer, it is imperative that you ask the owner of the land for the title deed, and scan it thoroughly. Do not accept a xerox. Demand the original, and check whether the land is in the name of the seller, he is the sole owner, and he has full rights to sell the land. Get the title deed evaluated by a lawyer, to make sure there are no loopholes.
No ongoing legal disputes:- Be sure to verify that the land has no ongoing legal dispute. This can be verified by an ‘Encumbrance Certificate’, which is obtained from the sub-registrars office where the land’s deed has been registered. Check the encumbrance certificate for the past 13 or 30 years, to clarify whether the land is not under any legal dispute.
Infrastructure:- Do ensure that the project that you are planning to invest in, has the required infrastructure to build your home. There should be no hiccups in terms of building a public road, accessibility to the land, planning permission and building approvals. There should be no restrictions with regards to zoning regulations either.
In addition to the above points, there are a few other points that one must consider, before investing in land. For those looking to buy plots in Bangalore, check for the Khata certificate and extract from the BBMP, and the RTC (Records of Rights and Tenancy Corps), or 7/12 extract. There are a range of options for residential plots for sale in Bangalore, so research wisely before investing.