Published on February 28, 2014
Factors to Check Before Buying A Plot
Land is an asset for everyone
Make the RIGHT decision
#1 Which location do you want to buy?
#1 Determine the location by considering proximity to all areas Do not fall prey for less priced land in the out-skirts of the city
#2 What’s the size of the land?
#2 Ensure you check on how much land (built up area) would be needed to build your dream house Topography and soil are the two vital factors that you should consider before buying a plot
#3 What type of land is right for you?
#3 Choose between developed & undeveloped land options Developed land offers proper sanitation, water supply and power supply while undeveloped land doesn’t.
#4 Have you checked the property Title Deed?
#4 The Title deed of the property includes basic information like; name of the owner, location etc. Check the title deed papers to know complete information of the property
#5 Have you checked the Encumbrance certificate?
#5 The encumbrance certificate will reveal the prevalence of legal disputes and the history of land transactions This certificate is available at the area subregistrar’s office wherein the deed of the land is registered
#6 What is the Real Value of the land?
#6 Instead of blindly rushing, consult with real estate experts to know the exact value of land After all these initial checks, go ahead and negotiate on price of the land
#7 Have you got all the documents?
#7 Consult an advocate or a document writer (one who has a government licence) to can get the land documents ready Ensure all the details are accurately mentioned in the document
#8 What all to do while registering your plot?
#8 Ensure fresh documents along with Land rate & the registration expenses are written and do not pave way for duplicity of documents The land will be registered in your name at the sub-registrar office
SUMMARY Choose your Location Choose your Plot size Check the Encumbrance certificate Check the real value of The Plot Choose your Land type Check for all the documents Check the Title Deed Check for duplicity of documents
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