land Archives - Houseyog https://www.houseyog.com/blog/tag/land/ 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 land Archives - Houseyog https://www.houseyog.com/blog/tag/land/ 32 32 Land Buying Guide: 10 Things to Know and Check Before Buying Land https://www.houseyog.com/blog/land-buying-guide-10-things-to-know-check-before-buying-land/ Thu, 28 Dec 2023 12:55:27 +0000 https://www.houseyog.com/blog/?p=1283 Buying vacant residential or commercial land is a significant investment decision. Especially for those aspiring to build their dream home or make a lucrative investment. In India, where the real estate market is very dynamic and diverse, making an informed decision when buying a vacant land or plot is crucial. In this guide, we’ll explore… Continue reading Land Buying Guide: 10 Things to Know and Check Before Buying Land

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Buying vacant residential or commercial land is a significant investment decision. Especially for those aspiring to build their dream home or make a lucrative investment. In India, where the real estate market is very dynamic and diverse, making an informed decision when buying a vacant land or plot is crucial.

In this guide, we’ll explore the essential factors to know and consider before purchasing residential land, ensuring that you embark on this journey with confidence and a lot of clarity.

Land Buying Guide: Things to check before buying land for construction or as an investment

Whether you’re envisioning the construction of your dream home or contemplating a strategic investment, the choices you make before buying the vacant land can have a profound impact on your future.

From the location of the land to legal insights, there are so many things that must be considered before buying the land to build your dream home.

Here are some of the key things that you must check and understand when buying a plot of residential or commercial land.

Location, Location, Location

Undoubtedly, the location of your land is a critical factor that influences various aspects of your life. Beyond mere geography, delve into the specifics of the neighbourhood. Consider the proximity to schools, hospitals, markets, and public transportation.

Assess the safety, cleanliness, and community atmosphere to ensure a harmonious living experience.

Irrespective of whether you are purchasing the land to build your home in future or just as an investment to get handsome returns, the location of the land is a major factor that you should not ignore.

Future Development Prospects

A forward-looking approach involves researching the future development plans in the area where you hunting the land. Infrastructure projects, commercial hubs, and upcoming transportation networks can significantly impact land and property values in future.

However, it’s crucial to validate these plans with local authorities to avoid falling prey to exaggerated promises made by the sellers.

Ease of Living

The ease with which you navigate your surroundings plays a pivotal role in your overall satisfaction. And this is another important aspect that can’t be ignored when buying land. Evaluate the accessibility, quality of roads, and availability of public transportation.

Consider essential services such as water and electricity supply, waste management, and other civic amenities contributing to a comfortable lifestyle.

Return on Investment (ROI)

While the primary motive for purchasing land may be personal use, assessing the investment potential is a prudent practice. Research historical appreciation rates and analyze market trends to get a fair idea of current and future price trends.

A well-located plot not only fulfils your housing needs but can also serve as a lucrative long-term investment and yield a higher return on your investment.

Legal Due Diligence

Navigating the legal landscape before buying the land is critical to a smooth land acquisition process. Make sure to verify the land title to ensure it’s clear of disputes or encumbrances.

Confirm compliance with zoning regulations and secure necessary approvals from local authorities.

When possible, you should engage a legal expert to guide you through the paperwork and guarantee a lawful land purchase.

Utilities and Infrastructure

The availability of essential utilities, such as water, electricity, and gas, is paramount. Understand the costs and procedures involved in connecting your land to these services.

A well-developed infrastructure enhances the livability of the area and positively influences property values.

Resale Potential

Even if immediate resale isn’t on the horizon, assessing the potential before buying the land is a wise decision. Consider factors like neighbourhood growth prospects, demand for real estate, and upcoming developments that could impact the resale value of the land you are planning to buy.

Community and Amenities

The character of the community and available amenities contribute to a wholesome living experience. Parks, recreational areas, and community centres enhance the overall quality of life. A thriving community fosters a sense of belonging and adds value to your property.

If you are buying land that has provisions for these amenities and that encourages community living, then the prospect of the plot is going to be much better.

Vastu Considerations

In a cultural context, many individuals place significant importance on Vastu, an ancient architectural practice from India. While not backed by scientific evidence, adhering to Vastu principles is believed to bring harmony and positive energy.

If you trust in Vastu and Vastu compliance is crucial to you, consider consulting a Vastu expert before buying the land to ensure your chosen plot aligns with the Vastu principles.

Soil Quality and Topography

Often overlooked, the physical characteristics of the land can significantly impact construction costs. Conduct a soil test to determine load-bearing capacity and suitability for construction. Evaluate the topography to ensure it aligns with your building plans and doesn’t pose challenges during construction.

Things to Check Before Buying Land

Conclusion

In conclusion, buying land is a significant step that requires thorough research and careful consideration. By evaluating the location, legal aspects, potential for return on investment, and other critical factors, you can make an informed decision while buying a residential plot that aligns with your goals.

Remember to seek professional advice, conduct site visits, and envision your future in the chosen location.

If you have already acquired the land to construct your dream home and you are looking for the best architect in town, then we have got you covered. At Houseyog, we offer end-to-end architectural and interior design consultation across India. From house floor plans to 3D house elevation designs, structural drawings and project supervision, we are committed to transforming your vision into reality.

For inquiries or to begin your architectural and interior design journey, contact us at 7596058808.

Happy land hunting!

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Things to Consider Before Buying a Plot for Home Construction https://www.houseyog.com/blog/things-to-consider-before-buying-a-plot-for-home-construction/ Thu, 16 Mar 2023 13:33:55 +0000 https://www.houseyog.com/blog/?p=884 Purchasing a plot and then constructing a house of your own on that plot is a different feeling altogether. Although, living in a ready-to-use flat is a very convenient and cost-effective option, constructing a house of your own is a different level thing. I always wanted to build a house of my own. Although I… Continue reading Things to Consider Before Buying a Plot for Home Construction

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Purchasing a plot and then constructing a house of your own on that plot is a different feeling altogether. Although, living in a ready-to-use flat is a very convenient and cost-effective option, constructing a house of your own is a different level thing.

I always wanted to build a house of my own. Although I live in a metro city, I managed to purchase around 2 Cottah of land for home construction.

But, a few years down the line, I realized the land was not at the right location and it will not suit my future needs. Finally, I ended up buying a flat and dropped the idea of constructing a house.

And that plot of land is still with me.

And I plan to use this as a good investment for my future.

The thing is, buying a perfect plot requires adequate planning. From the size of the plot to the neighbourhood, location, price, approach road and whatnot, there is so much to think about before purchasing.

After all, you don’t want to invest in land that has some existing litigation or a plot not located conveniently. Luckily, I have been there and done that and I can help you get it right.

Wondering how?

Continue reading.

Consider this when buying a plot for home construction

Below are a few imperative factors worth considering when buying a plot for home construction.

Verification of the Title Deed

Checking the title deed of the land is very important before you buy the plot of your dream. The key to doing this is by ensuring whether the seller is entitled to that property or not. After going through that document carefully make sure that the seller’s name is there in the deed for sure apart from anyone else’s including his or her entitlement to that plot as well.

Verification of the Seller                         

At times, we get to hear that a certain strip of land has been embroiled in a couple of issues or that it is totally under litigation. Therefore, it is very important that you cross-verify the seller as many times as possible.

Simultaneously, it is also necessary that you scrutinize the ongoing as well as the previous projects of the person from who you are buying the land. If need be, post a couple of queries online as well and see what reviews are coming instead.

This way you can attain a clear understanding of the builder, subsequently purchasing the plot from him or her.

Scrutinizing the Encumbrance Certificate

When buying a plot, make sure that it is free of any legal disputes or obligations because it’s always better to be safe than sorry. In this matter, it is pertinent to mention that land with an Encumbrance Certificate for more than 30 years is a viable option to go with. Conventionally, you can access this document in the Sub Registrar’s office which states that such a strip of land has not been affected by any unwanted legal hassles or complaints until recently. So, keep this aspect in mind.

Plot Area

Perhaps the most important factor to consider, pondering over the area of the land or plot is the stepping stone towards building your dream home successfully. While doing so, verify the dimension of the built-up area for sure including its pertinent topography and soil as well. Always remember, you are spending your hard-earned money on a plot and not buying chocolate or something. So, ensuring its nitty-gritty is absolutely necessary before you finalise a deal.

While choosing the plot size, consider the local building code carefully. You will have to leave some space on the sides, front and back and therefore the plot should be sized appropriately. Or else, you may not get enough build area and thus run out of space. You may like to consult a local architect for further guidance.

Inspection of the Release Certificate

As a matter of fact, the land that you are buying may be owing a particular bank loan. In such a situation, obtaining a Release Certificate from the bank is of paramount importance. And with this document, you can prove that the loan that applies to your plot has been repaid completely. However, if multiple people were involved at the time of purchase, make sure that you glean the release certificate from every one of the individuals who were a part of this activity.

Plot Value

Even if the plot seems really attractive to you, don’t make a decision in haste. Hence, doing intensive research on the value of the plot and its potential benefits is indispensable before you buy the land of your dream. If need be, you can also take the assistance of a professional real estate agent in this matter and he or she will guide you accordingly.

Property Tax Bills and Receipts

You never know if the plot you are buying is inflicted by any tax disputes or not. In case it is, then you need to free yourself from that predicament first. So, to go about it, you must ask the seller to provide you with all the tax receipts and other related bills he had paid for this property before. When you have these credentials handy with you, getting over any intrusive tax-related problems will be a matter of minutes.

Location of the Plot

Where you are going to stay after building your dream home plays a huge role in making or breaking the decision when it comes to buying the plot of your choice. As a matter of fact, the area of the plot you choose must be in close proximity to the convenient areas of your city. However, amidst this process, don’t get enticed by cheap offers that are situated at distant locations. So, first and foremost, factor in the location of your residential plot and then do everything else if investing in a lousy piece of land is the last thing you want.

Conduct research individually

Doing intensive research is very important if a clean and undisputed property is what you are looking for. To do this, you can join a couple of online real estate forums and scrutinize any unexpected future events that the plot might be susceptible to. Alongside, also ascertain that the area is integrated with all the facilities and infrastructure you need to build the home of your desire. On top of everything, your plot must certainly have a deed that shows complete access to the land as well as the authority to build a public road without facing any abrupt legal issues or worries.

Get information about ‘’Land-Use’’

As per the master plan of the city where you live, obtaining information about the ‘’land-use circumference’’ and its nitty-gritty is absolutely necessary. To get a bird’s eye view of your vicinity, ask the local body office to provide you with the ‘’city master plan’’ as you skim through the document with a great deal of care and attention. This way, you can devise a ‘’home-construction design’’ that lets you optimize your plot in the best way possible.

Essential approvals by the local body

Before buying a plot, make sure that it has been approved by the City Development Corporation and the associated local body (e.g. Municipal Corporation, Panchayat or Zilla parishad office in India). Alongside this, it is also necessary that you get the essential documents approved by a qualified lawyer. On top of everything, if the size of the plot is exceptionally large and the builder wishes to subsequently develop it, then both the planning and the building approval must be obtained from the local authorities in advance.

Buy a residential plot with confidence now

As easy as it may seem, buying a residential plot in India is not an easy task at all. However, by considering each of the factors mentioned above, you too can buy the strip of land of your desire, that too with full-on confidence and efficiency.

Happy Buying!

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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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