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Property Buying Guidelines for Open Plots

  • Janmika Group
  • Feb 7, 2025

Property Buying Guidelines for Plots

Property Buying Guidelines for Open Plots

Investing in a plot is a major financial decision that requires careful planning and verification. Here are some key guidelines to ensure a safe and profitable purchase:

Verify Legal Documentation

  1. Title Deed :Ensure the seller has a clear and marketable title.

  2. Encumbrance Certificate (EC): Confirms the property is free from legal dues.

  3. Land Use Zone Approval: Check if the land is approved for residential, commercial, or agricultural purposes.

  4. HMDA/RERA/DTCP/Gram Panchayat Approvals: Depending on the location, ensure the plot is legally approved by the respective authority.

Location and Accessibility

  1. Check proximity to highways, main roads, schools, hospitals, and commercial areas.

  2. Ensure proper road connectivity and public transport availability.

  3. Analyze future development plans for better appreciation value.

Seller Verification

  1. Buy only from a trusted developer or individual with a clear track record.

  2. Cross-check land ownership history to avoid disputes.

  3. If buying from a developer, confirm if all necessary approvals and clearances are obtained.

Plot Measurement & Boundaries

  1. Conduct a physical site visit and measure the land to match the layout plan.

  2. Get the survey number verified by local revenue authorities.

  3. Check for boundary demarcations and avoid encroached or disputed properties.

Financial and Loan Considerations

  1. If taking a loan, check if the bank has approved the project.

  2. Consider additional costs like registration, stamp duty, and maintenance charges.

  3. Ensure financial planning for long-term investment benefits.

Amenities and Infrastructure

  1. Look for developments like drainage, water supply, and electricity..

  2. Consider gated community plots for better security and appreciation.

  3. Check the quality of roads and internal layouts.

Resale & Appreciation Value

  1. Analyze past price trends and growth prospects.

  2. Look for upcoming government projects or private developments nearby.

  3. Ensure that the plot has a good potential for future resale.

Registration & Handover

  1. Get the property registered at the Sub-Registrar office with proper documentation.

  2. Ensure mutation (name transfer) in revenue records after purchase.

  3. Collect all original documents after registration.