Major Points To Consider Before Buying Plots In India

It’s easy to feel overwhelmed when you’re considering buying a plot of land in India. There are so many things to think about, and if you don’t have experience with buying land, it can be enough to make your head spin.

Price:

Buying land can be costly depending on its size and location. Before investing in properties make sure you have enough cash reserves to support the purchase. Some banks offer loans for buying land so you can also look into that option as well.

Taxes:

When buying plots in lucknow it is important to know about taxes and other expenses that come with purchasing real estate such as maintenance costs or monthly utilities bills (if applicable). Get all this information from your agent or broker so you know exactly what you’re getting yourself into before making an offer on any plot!

Location:

The location of your plot is the most important consideration. It should be easily accessible and close to all the basic amenities like schools, colleges, hospitals, markets and shopping malls.

Budget:

Your budget is the second thing you should consider before buying a plot. Decide how much money you want to invest in land and then explore the options that fall within your budget. If you want to apply for a home loan then understand the loan process as well as the eligibility criteria in detail before applying.

Verify ownership documents:

Make sure that the seller of your desired plot has a valid title deed and proper legal documents to prove his ownership on that piece of land. You can also conduct a thorough search on the history of the property by visiting the local sub-registrar office or by taking help from a lawyer.

Legal compliance:

Before signing any document or agreement make sure that it complies with all laws and regulations mentioned under RERA (Real Estate Regulation Authority). You can also take help from your lawyer to make this process smoother.

Due Diligence:

The title deed should be clear so make sure all documents are in place and there are no encumbrances on this land like legal disputes or tax dues. It is important to check that the seller has enough rights or authority to sell the property

Government Approvals:

Before buying a plot, ensure that all government approvals are received by the seller. For example, a plot located near an airport will require clearance from the airport authority to build on it. Verify these documents before making a payment.

Clearance From Local Authorities:

LDA plots in lucknow located within municipal limits will require clearance from local authorities like town planning departments or development authorities before any construction can take place. You should get all clearances verified by checking with your local ward office or municipal corporation office to avoid problems later on.

Title Deed:

Before buying any plot, make sure that the land belongs to the person from whom you are buying it. Just check the title deed of the property, which will prove its ownership beyond doubt. The title deed also mentions all details about the property including who owns it and what encumbrances have been attached to it. Also check for any legal issues or disputes pertaining to the property and ensure that there are no chowkidar or government claims on it.