5 Things to check before you buy plots for sale in Bangalore and other cities
Most people buy plot land for investment purpose. Some may go on to build a farmhouse on it too. However, no matter what you decide to do with it, it is important that you make sure few things are checked before making the deal. With government policies about agricultural and non-agricultural land, you would not want to get stuck with a property that is of no use to in the future. If you’re sure about the purpose of your purchase, you can start looking for plots accordingly.
Here’re a few things you should check first:
You may want to purchase a plot as an investment so that you can build a small house and rent it out to tourists or maybe for your retirement home. Whatever your reason, you could look for Plots for sale in Bangalore, Mumbai or other cities or even rural areas. How much investment is required on your part will be determined by where you wish to buy the plot. Apparently buying a plot in rural area will cost you lesser than a place close to the city.
- Reserved Land
When you’re buying a plot, this becomes one of the most important factors. You may like a location and fall in love with the place. However, it is important that you check if the land is reserved as a part of an irrigation project or for archaeological purposes by the government. The government will then offer a subsidised rate for the land and buy it, which only accounts for a huge loss on your part.
- Size and Quality of the land
Before you buy the plot, you could invest some money and have the land measured. The documents may claim a certain size, however, due to some reasons it could be lesser than the promised area. It is always best to get it measured from a trusted source. Also consider examining the quality of the land soil, especially if there are not too many houses around. There could be a water issue, or the land may have high salt content, all of which will have an impact on your constructed home.
- The Deed title
Check if the property is registered in the seller’s name. Make sure that the person selling you the property owns it and has the full right to do so. Most agents or builders would provide you with a photocopy; make sure you ask for the original documents before finalising on the property.
- Tax and Bill Receipts
Make sure the previous owner has paid all the necessary tax and bills for the property. If not, you may have to pay for it as the new owner or there could be a legal issue with transferring the property in your name. In case the plot was acquired against a loan then make sure the same has been repaid, and the current owner has a release certificate from the bank.
Remember these little things, and you are all set to buy the plot you had fallen in love with!