Buying-a-plot Archives - Houseyog https://www.houseyog.com/blog/tag/buying-a-plot/ Beautiful Homes, Designed Your Way Wed, 10 Apr 2024 06:42:54 +0000 en-US hourly 1 https://wordpress.org/?v=6.2.6 https://www.houseyog.com/blog/wp-content/uploads/favicon.png Buying-a-plot Archives - Houseyog https://www.houseyog.com/blog/tag/buying-a-plot/ 32 32 Ultimate Guide to Buying a Residential Plot in India https://www.houseyog.com/blog/guide-to-buying-a-residential-plot-in-india/ Wed, 03 Mar 2021 12:19:49 +0000 https://www.houseyog.com/blog/?p=135 We live in a status-driven society where buying a property is directly associated with your status. Buying a property of your own is considered to be a great achievement, especially a residential property like a plot or an apartment in a gated residential complex. But, as a property buyer, you know that you are not… Continue reading Ultimate Guide to Buying a Residential Plot in India

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We live in a status-driven society where buying a property is directly associated with your status. Buying a property of your own is considered to be a great achievement, especially a residential property like a plot or an apartment in a gated residential complex. But, as a property buyer, you know that you are not buying a property just to impress society, but to live or use the property or to get a better appreciation of your investment in future.

But, whatever the case, no one can deny that buying a residential plot in India is not easy. Prices of residential plots in India are already touching sky-high. Moreover, before making such huge investments in buying a residential plot in India, you should evaluate everything well, and only when you are satisfied with all the papers, you should choose the plot. If you trust in Vastu, then consider these Vastu tips for choosing a plot or land to construct a house.

Buying a plot of your own to build your dream home can be exciting. But, you should not get carried away and buy a plot that first comes your way. In fact, you should do some research, verify certain things and then if you are satisfied, you should go ahead and book the plot.

If you are planning to buy a plot and you are wondering about what to know and how to verify everything before making an investment then continue reading. As today, in this guide to buying a residential plot in India, I am sharing everything worth knowing about buying a plot.

Best tips for buying a residential plot the right way

The process of buying a flat is much easier and straightforward, especially when you are buying a flat from a reputable builder and you are taking a house loan from a bank. Banks generally verify all the papers and documents and only when they are satisfied with everything, they sanction the loan.

But it’s not that straightforward in case you’re buying a residential plot. There are many things that have to be considered e.g. proper document verification, litigation, value of the property, location of the plot and so on.

If you are buying a residential plot, and you are wondering about how to do the due diligence the right way to avoid any hassles and future issues then here are the things you should consider.

Check the location of the plot

Among all other factors worth considering, the location of the plot you are planning to buy is of the highest importance.

Naturally, if the plot is located in the middle of the city or closer to the city then the prices are going to be high.

Similarly, if the plot you are buying is located on the outskirts of the city, the prices are going to be a little less compared to the plots available in the main city.

But as they say, you get what you pay for. If you have the budget, you can consider buying a residential plot in an already developed area and if you want it cheaper you have to find a plot a little away and in an upcoming area.

So when choosing a location, you have to consider your budget.

But that’s not all that matters when choosing a location for a residential plot.

You should look at a potential residential plot of land from a future point of view. If you are buying a residential plot for the future or as an investment option to get better returns in future then consider the number of years you are willing to wait.

Localities outside of the city may not look attractive today, but 5-10 years down the line, the same area may become people’s favourite and that’s the ideal plot one should look for.

Size of the plot

Th size of the plot is another vital factor that you should consider when buying a residential plot. Whether you are buying a plot to build your own house in future or you are making an investment to get better returns, it’s important to buy a good-sized plot.

If you are buying the plot for your own use then figure out the kind of house or villa you would build in future. What size of house do you want to build and what are the amenities and features you would like to have in your future house? Depending on whether you want to build a duplex house, a bungalow, a villa or a farmhouse, you may get an idea of the ideal plot size.

Moreover, when you are buying a plot to build your own house in future, consider the buildup area you will get. You can check the local building guide to get an exact idea of the open space that has to be left while constructing a house. Usually, 25%-30% of the plot area has to be left as open space at the time of construction otherwise you may not get the plan sanctioned for house construction.

However, if you are buying a residential plot for investment purposes, then think of the future appreciation and future buyer’s persona. Because what kind of building can be built on that size of the plot can directly affect the future value appreciation of your plot.

Think through well and consider buying a larger size of plot, especially if that’s available and if you can afford to invest. After all, you don’t buy a plot of land many times in your lifetime, unless you buy and sell it to make money.

Buying a litigation-free residential plot

You don’t want to end up buying a residential plot which is already disputed. Therefore, you have to check and ensure that the person or the builder you are buying from has the freehold of the property and that, there is no litigation or any dispute in the land.

There have been cases where the same plot of land has been sold to multiple buyers and that’s the last thing you would want. Checking the credibility of the person or the builder you are buying from can help you to some extent. However, you should also enquire and get information from the local people, and check all the required documents that I will be talking about in the next step.

Verify the title deed of the land

The title deed of the land is one of the most vital documents that you should check before buying a plot. Before booking the plot, you should check for the title deed and ensure that the title deed is in the name of the seller and that the seller has the right to sell the property to any interested buyer.

Dealing with lands and plots in India happens a little differently. Sometimes, you may not get access to the actual owner of the land, and you may have to deal with a broker. Usually, the broker makes an agreement with the actual owner at a certain price, and then they sell it to different individuals after keeping his profit.

In such cases, you don’t have a choice, but to deal with the broker, and ideally, you should avoid such land dealings.

However, if the broker is known to you and you know that you can trust the broker, even in that case you should check for the title deed of the land, and ensure that the person pretending to be the owner of the land has his name on the deed and that he is eligible to sell the land.

Secondly, if you are buying land through the dealer then make sure to check the agreement between the actual seller and the broker to know about the kind of agreement they have made.

Check mutation certificate and tax receipts

After checking and evaluating the main title deed of the land, the next important document to check is the mutation certificate and tax receipts. When you check the mutation certificate, you know for sure about the true ownership of the land.

Checking tax receipts of past years and quarters can help you determine if there is any tax due on the land. However, if you find that the mutation is done in the name of the person as per the title deed, but the taxes are not paid then get that paid.

Because, the tax liability can easily become huge, especially in megacities because the local bodies usually add interest and fines at times on due taxes. And there is no point taking that liability when buying a residential plot.

Verify encumbrance certificate

One of the best ways to verify that the current owner of the land is the same person as mentioned in the title deed is to obtain an encumbrance certificate. You can ask for a certificate which is obtained from the office of the sub-registrar where the property is registered.

You can ask for details of the past 20-30 years, that way you get to know who has been the owner of the land for many years. This is very important and you should not just rely on the title deed, because the title deed might have changed in case the land is already sold to someone. The best way to double-check and verify the current owner or the history is to obtain and verify the encumbrance certificate.

Moreover, you also require the encumbrance certificate for a home construction loan from a private or public sector bank. So, think of it as a very vital document that must be checked when buying a residential plot in India.

Approval by local body

This could be an important thing to check when buying a residential plot in India, especially in major cities where there are local development bodies like Kolkata, KMDA (Kolkata Metropolitan Development Authority) approves the layout of a site (of course when the land or the project falls in its jurisdiction). Check for necessary approvals from the local development body in your city before buying a plot in their jurisdiction.

Land use and conversion

Land use is an important aspect to look at when buying a residential plot to build your own house, now or in future. There may be a restricted zone that does not allow new construction and you should verify and ensure that the plot of land you are interested in does not fall into such a restricted zone.

Moreover, if the plot is farmland, then see to it that the land use can be converted and a residential building can be built on the land. This becomes even more important when you want to build a house immediately.

Check for a loan against the land

Sometimes, the property may be pledged with the bank and therefore it is important to check that there is no loan against the property. If the plot of land was pledged with the bank, then you should ask for the NOC from the bank or the financing institution to ensure that the property has been freed by the bank.

Registration and boundary

Once you have verified everything and you are ready to buy the plot, you should make payments and get the land or the plot registered in your name. Once the registration is done, the next step is to get the mutation done in your name.

After registration, the next and final step is to get the boundary wall done on the plot of land.

Conclusion

The process of buying a flat is way simpler than buying a residential plot of land. When you are buying a plot of land, there are so many things that have to be checked before buying e.g. location, plot vastu, plot size, price etc. We have already discussed the most important things you should consider when buying a residential plot of land in this post.

Basically, the idea is to ensure that the plot you are buying is a freehold plot that the person you are buying from is the true and rightful owner of the plot and that he has the full right to sell the plot. You also check all the documents related to the land and see to it that there are no pending taxes that there is no bank loan against the land and there is no litigation whatsoever.

Only after verifying all these aspects, you should book and buy a residential plot from a developer an individual owner or a group of landowners.

What else do you think one should check for when buying a residential plot of land? Feel free to share your land-buying tips and ideas by commenting below.

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Vastu Tips to Select Plot and Land for Home Construction https://www.houseyog.com/blog/vastu-tips-to-select-plot-and-land-for-home-construction/ Thu, 04 Feb 2021 12:38:00 +0000 https://www.houseyog.com/blog/?p=86 Vastu friendly plots, lands and homes are believed to bring peace, prosperity and good fortune for the owners and residents. You don’t buy a plot of land every now and then, especially to build a home. Buying a residential plot is a huge decision and it involves a lot of money. Therefore, it makes sense… Continue reading Vastu Tips to Select Plot and Land for Home Construction

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Vastu friendly plots, lands and homes are believed to bring peace, prosperity and good fortune for the owners and residents. You don’t buy a plot of land every now and then, especially to build a home. Buying a residential plot is a huge decision and it involves a lot of money. Therefore, it makes sense to evaluate and assess the plot correctly as per Vastu guidelines before you select and buy the plot.

If you are planning to buy a plot or piece of land to construct your dream home, and you are wondering about what to look for when selecting a Vastu friendly plot then I have got you covered. Today, in this post, I am sharing a few of the best Vastu tips to select a plot and land to construct your own dream home.

Vastu tips to select a plot or land

I personally interact with hundreds of land owners and homeowners every month as they reach out to us for house designing services. One of the most common requests we receive from them is to ensure that we follow home Vastu guidelines when planning and designing their homes.

Needless to say, a good percentage of people trust Vastu Shastra and they wish to tick off as many Vastu guidelines as they can while buying a property, be it a plot of land or a ready to move property.

Even if you are buying a plot or land as an investment, it will be easier for you to sell a Vastu friendly plot than a plot with a lot of Vastu defects. Hence, it’s better to consider Vastu guidelines for plot and land before making a huge investment in buying and registering the plot.

Here’re the best Vastu tips that you should keep in mind when selecting plot and land to construct your dream home.

Location and land history

I am sure you know that the location of the plot is one of the most important factors you should consider before buying a plot or land. And while evaluating the location, it is important to look at the history of the plot. Find out what existed there in the past? Was there a graveyard; was it a battlefield or a farm land? The history of the plot says a lot about it.

Surrounding

Location of the plot is crucial and so is the surrounding environment of the plot. A fertile land with plenty of greeneries and open sides are always great. If the plot or land you are considering to buy is very fertile, and has plenty of greeneries then that is a big positive and you can go for it.

However, there should not be a valley at the front side of the plot. Also, a plot with open east and north is considered to be the best because any type of blockage in the north or east will restrict sunlight, which is a great source of positivity and energy. But, blockage in the west or south side is okay as that restricts entry of negative energy.

According to Vastu a plot that has a hospital or graveyard adjacent to its boundary wall is not auspicious for residential use. Hospitals and graveyards can bring negative vibes and that’s the last thing you want for your home.

So, when selecting a plot to construct your dream home, just see to it that, there is no hospital or a graveyard close to it.

Also, the plot you are considering to buy should not be situated between two bigger plots.

Shape of the plot

According to Vastu, square and rectangular shape plots are considered to be the best for residential use. When sides of the plots are straight like in case of a rectangular or square shape, then that is the best plot to buy.  But, you should try and avoid plots with irregular shape, especially circular, oval and hexagonal plot.

However, you can consider plots of uneven shape, especially if the size of the plot is bigger. However make sure to create symmetry by drawing a Vastu fence (give it a rectangular or square shape) while constructing your home.

Direction and entrance

North facing plots are considered to be the best for home construction. Second best facing for the plot is east and west.

South facing plots are not so auspicious and can be avoided.

Main entrance of the plot in the north or east direction is considered to be the best. Second best position for the main entrance of the plot is the southern corner.

Roads

Roads are seriously important and it’s one of the vital things to consider when selecting plot or land for residential or commercial use. A plot with a road on all sides or at least two sides is the best, and this is why corner plots are priced a little higher than plots with a front side road.

However, you should avoid plots at the dead end of the road. However, if the width of the road is wider or equals the width of the plot then you may opt for it.

Land level and soil

The level of land is equally important and the best plot has a flat level of land. But this should not be an issue as land can be leveled on your own. However, when leveling see to it that the slope is from south west to north east i.e. the south west side should be slighter higher than the north east side. Plot with westward slopes can be avoided or must be leveled and sloped correctly.

According to Vastu, plots with rocky lands, black soil or clay soil are not considered to be the best. However depending on the geography you are buying in, you can consider plots with rocks or clay soil, but later on put in white, yellow or red soil to level the plot and correct its Vastu.

Natural extension

Natural extension in the northeast side of the plot is considered to be auspicious. However avoid adding extension in any other side of the plot.

Infographic – vastu tips to select a plot

Vastu Tips to Select a Plot
Infographic

Over to you

Vastu Shastra is huge and it has detailed guidelines for everything related to land and home construction. And it makes full sense to consider Vastu tips when selecting and buying a plot or land for residential use. I have already shared a few of the best Vastu tips to select plot and land for home construction.

However, at times it may be difficult to find a hundred percent Vastu compliant plot and land. But you should strive to tick off as many guidelines as you can. And if you feel the need, you can take professional help from a Vastu consultant near you.

And finally, if you like this post, then feel free to share and help us spread the word.

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