When buying a plot, you should check the following: 

Location:

  • The location of a plot is important because it affects the price, development rate, and appreciation value. 
  • Sometimes the layout in the brochure could be different from the reality. So, do a thorough site visit before booking the property. 
  • Verify the land measurement. Invite a local surveyor for the proper measurement of the land. Check whether the road area and park area have been handed over to the local body and also the nature and status of nearby projects of the areas. 
  • Interact with people in the neighborhood as they may know about any illegal occupation or other legal disputes related to the property.

Land use zone: 

Different plots have different zoning classifications that determine how you can use the land. Make sure your intended use is in line with the zoning regulations. 

  • Approvals: The plot should have all the necessary approvals from the relevant government and real estate authorities. 
  • No-encumbrance certificate: This certificate warns you about any legal issues or complaints that the land may have.  

Property tax receipts:

  • These receipts show the right ownership and help you find any dues. 
  • In this way, we can ensure that there are no pending bills.

Bank NOC:

In case, if we are buying a property in resale, remember that it may have been pledged to get a bank loan.

In such a case, we have to get a release certificate from the bank, which will prove that the loan on the land has been repaid. 

  • Utilities: Check if the plot has access to water, electricity, and road. 
  • Seller’s identity: Make sure you are dealing with the right person by inspecting and making copies of the seller’s identity card The PAN Card, Voter’s ID, Driving License, and Passport.

Title deed: Verify the title deed. 

  •  Check whether the seller has a proper title with the help of a very good Advocate.
  • The seller should have a clear title of the land.
  • Hire a property lawyer to check this. Check for sale deeds and if the seller has the same agreement or power of attorney, check these legal documents for buying a plot as the risk of fraud is higher.

 

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