New Delhi. Buying a plot in India has long been considered a safe and profitable real estate investment. Land prices increase with time and maintenance costs are also negligible. But on the other hand, due to cases like fake documents, multiple buyers of the same land and selling of land by giving wrong information, it has become very important to be cautious before investing. While purchasing a plot, thoroughly checking the location, identity of the seller and legal documents is essential to make the investment safe.
City center or outskirts: where to buy a plot?
A general rule in real estate is that where prices are lower, the potential for future returns is higher. Land prices in city centers are already quite high, which limits profits in the long run. In contrast, land on the outskirts or peripheral areas of the city can be found cheaper by 30-40 percent. As roads, metro, schools, hospitals and other infrastructure develop in these areas, land prices also increase.
Yamuna Expressway of Delhi-NCR is an example of this, where land prices have increased rapidly in the last few years and are expected to increase further in the coming time with the operationalization of Jewar Airport.
What things are important to check while buying a plot?
Zoning and construction rules
Zoning rules dictate what kind of construction is possible there and how tall buildings can be.
Physical Verification and Connectivity
Don't rely solely on brochures or advertisements. Visit the plot yourself and check the surrounding development, roads, electricity, water and transport facilities. Better connectivity plays an important role in increasing the price of the plot in future.
Benefits of investing in a plot
Better returns in the long runFlexibility of useLow taxes and minimal maintenance expensesPotential for future income from construction or rental
Question 1: What is the process of buying a plot in India? Answer- To buy a plot, first decide the budget and location. After this, check the identity of the seller and all the legal documents related to the land. Finally, get registered at the sub-registrar office by paying the registration and stamp duty.
Question 2: What is the title deed of land? Answer- Title deed is a legal document, which shows who is the real and legal owner of the land and there is no dispute over it.
Question 3: Is NA certificate necessary before purchasing a plot? Answer- Yes, if you are buying the land for residential or commercial use, then it is necessary to convert it from agricultural to non-agricultural (NA).
Question 4: Why is encumbrance certificate necessary? Answer- This certificate states that there is no debt, loan or legal dispute on the land. Please check this before purchasing the plot.
Question 5: Can anyone buy agricultural land? Answer- No, the rules for buying agricultural land vary according to the states.
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