Avoid these mistakes when purchasing property.
Buying land in India is always considered like a big investment, but sometimes people suffer heavy losses due to lack of correct information and hasty decision. If you are also thinking of buying property, then it is very important to know and keep in mind these important things.
First of all, you have to understand what is the price of the plot today and how much its price can increase in the coming time. Do not trust just the vendor. Must check the ongoing rates and government circle rates (guidelines) in the surrounding areas. Apart from this, choose areas where there are going to be the future development projects like roads, malls or metro, because the price of land increases rapidly there.
Examination of ownership is very important
Before purchasing any land, please check who is the correct owner of that land. Many times a case is going on on the ground or that land is disputed, which can lead to the problem of court-court later. Check the papers like title deeds, cell deeds and encounters certificate thoroughly. If needed, also consult a good lawyer so that your money and rights will be protected.
Take information about the category and zoning of the land
There are different categories of land in India such as residential, agriculture, commercial or industrial. If you are buying land to build a house, then that land should be residential. If the land comes out agriculture and you would like to build a house on it, then you may have a lot of trouble in future. Therefore, do not forget to take information about the land zoning (use of land) from the municipality or panchayat.
Impact of location and facilities surrounding
The location is very important for both the price and living facility of the property. See whether the facility of schools, hospitals, markets, roads, metro or bus around the land is available. Also, find that there is no major government or private development project going on in the area. The price of good location land increases well over time.
Check the real land measures and boundaries
Many times the area of land is written in the documents, it does not match the real measurement of the land. So before purchasing the land, get the physical measurement tested and match the GPS or government records. If the plot does not come in the approved layout, then there may be a problem of stopping boundary dispute or construction in future. Therefore, it is very important to check papers from the Local Development Authority.