Buying a dream house, buying a plot of land, and then building your personal dream home on it.
All desires a home of their own. Buying a dream house, buying a plot of land, and then building your personal dream home on it. However, with rising real estate prices, finding a suitable residential plot is becoming increasingly difficult, and even if we do, it is usually unaffordable. Land is the most common form of the property when it comes to real estate investment. However, there are a few main thoughts to bear in mind when buying land, without which your purchase might not be as sound an investment as you hoped.
Ensure these things when you buy Residential Plots in ECR
LICENSES AND APPROVALS
At first, examine the paperwork. The owner’s name should appear on all paperwork. Do not be fooled by a seller’s assurance that the records are in the name of a previous owner. If you want to stop a splitting headache in the future, you’ll need the following papers.
If you want undisputed legal ownership of land for rent, you’ll need a valid title deed. If it’s an agricultural plot, a residential plot, or a commercial investment plot, look for unknown deeds often. Any ambiguous deeds concerning the transfer of land to you must be settled in advance. It would be helpful if you could discuss the title deed with a lawyer.
CHECK THE PROPERTY IS LOCATED WITHIN THE CITY LIMITS
Check to see whether the CMDA (Chennai Metro Development Authority), DTCP (Directorate of Town & Country Planning), and the local government have approved it. For a small charge, a copy of the CMDA & DTCP-approved layout can be obtained. To determine whether a plot is appropriate for construction, consult a lawyer, architect, or licensed surveyor.
As a result, determining the plot’s potential is critical before making a purchase decision. Use it to evaluate the property if you have a specific plot project in mind.
If you take care of the above-mentioned points, you’ll be ready to invest or buy residential plots in ECR!