Things to Keep in Mind before Investing in Plots
Aug 05, 2016 Home Trading Steps
There are many buyers who want to and are interested in investing in plots. However, they detest from it due to the high uncertainty factor that tags along with the investment.
Buying of land is a highly risky thing but at the same it yields high returns and also offers flexibility in terms of construction. Buying a property is a good option and offers many benefits but buying a land is an expensive deal as well.
It is a better option for buyers to buy a land/plot directly from the owner of the land and government authorities. The only hindrance here is the factor of risk as when a buyer buys a ready apartment, the final authorities who are funding the project have already done the diligence however while a buyer is buying a land on his own it is his responsibility to do the diligence.
There are a certain number of things that buyers need to keep in mind while buying a property. Read through to know :-
PLACE TO INVEST IN
location is one main factor that one should keep in mind while choosing a land. If a buyer wants good return then they go for a location with economic future benefits. The government of India is also taking infrastructural and industrial initiatives. There are many growth areas like Shendra-Bidkin, Neemrana and so on which provide good benefits in future.
LOAN TO BE TAKEN
loan is another crucial factor that is of high significance while purchasing or investing. One can go for a home construction loan after he or she purchases the plot, as such a loan yields many tax benefits to a borrower.
And here are certain pointers that one needs to check and ensure before purchasing a plot and they are -
Buying of land is a highly risky thing but at the same it yields high returns and also offers flexibility in terms of construction. Buying a property is a good option and offers many benefits but buying a land is an expensive deal as well.
It is a better option for buyers to buy a land/plot directly from the owner of the land and government authorities. The only hindrance here is the factor of risk as when a buyer buys a ready apartment, the final authorities who are funding the project have already done the diligence however while a buyer is buying a land on his own it is his responsibility to do the diligence.
There are a certain number of things that buyers need to keep in mind while buying a property. Read through to know :-
PLACE TO INVEST IN
location is one main factor that one should keep in mind while choosing a land. If a buyer wants good return then they go for a location with economic future benefits. The government of India is also taking infrastructural and industrial initiatives. There are many growth areas like Shendra-Bidkin, Neemrana and so on which provide good benefits in future.
LOAN TO BE TAKEN
loan is another crucial factor that is of high significance while purchasing or investing. One can go for a home construction loan after he or she purchases the plot, as such a loan yields many tax benefits to a borrower.
And here are certain pointers that one needs to check and ensure before purchasing a plot and they are -
- The first and the foremost thing one should check is that the land belongs legally to the owner himself. To verify this ask the owner of the land for a Title deed. This will help in protecting yourself from fraud and hoax.
- After this, one needs to ensure that there are no legal disputes over the concerned land you plan on purchasing. To verify such a thing ask the owner for an Encumbrance certificate.
- Then a buyer needs to ensure that if the previous buyer bought the plot on a loan, that loan is paid off and the owner of the land has a Release certificate as a proof of that.
- One needs to make sure about the dimensions and area of the concerned plot, for that get a surveyor to check the same.
- Another major thing a buyer needs to check before finalising the plot is that the land is not on any agricultural zone. Go to civic authority to check the same. Along with this also ask for a planning permission as well as building approval from the seller of the land.
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