Five basic things that you need to check into before buying Land
by
Lekha
Five basic things that you need to check into before buying Land:
Buying a land and building a home for us is everyone’s dream. So, when buying a plot of land we have to notice some basic things in it. Buying flats and plots are different, Flats are easy to buy and lands are not so easy to buy because there are lot of issues may occur while buying lands.
Some of the basic things are there to look before buying a plot of land. In India, we are advisable for land buyers to check the following things
1.On identifying the land you interested to buy, check for the (Deed Title) parent copy document. If the seller refuse to provide this, proceed with caution or else check the Transfer of Title gives the seller rights over the property.
2.Ask Encumbrance Certificate It is a basic certificate can be given by the Sub-Register’s office (Deed register office). It is for the clearance of that the land is not under any sort of legal issues and unpaid dues.
3.Proper Approval check for the land has proper approval. Check for the Chennai Metropolitan Development Authority Approval (CMDA).
4.Check whether the documents are proper one with the help of one or more layers. Check whether the roads and park area have been handed over to the government.
5.Measure the Plot size measure the land and see the dimension, area, brooders are same as the documents.
At What Rate?
Circle Rate: Circle rate is the minimum rate for sale and transfer of the plot, House, commercial property and apartments. This rate is set by the government’s revenue department within the city there is different rates for different locations.
Market Rate: Market rate is the price that a buyer pays for a property. It is the final cost decided by the buyer and the seller. It is a price range arrived at by looking at actual transaction prices in a location, and is a better indicator of what sellers demand and what buyers are willing to pay
WHAT SHOULD YOU LOOK AT?
As a buyer, should you look at the circle rate or market rate before zeroing in on a property? Buyers should look at the market rate as it determines their buying capacity and it also indicates the extent of appreciation in a given area,”
To sum up, remember to check the difference between the circle rate and the market rate in the past and at current levels. A lower gap between the circle rate and market rate will be beneficial since loans are given on the basis of sales deed which is closer to the circle rates.
Smart people make smart choices by consulting DFPL:
Buying property and sale our property is undoubtedly a risk task, now a days. Making research and exploration of many details, comparing them and making a short list. Once you have the short list you now have the task of zeroing on the perfect property whether it is a land or villa. Even in today’s high tech world more research are done by internet, the property reviews are something that is hard to come by or there are not that much options to select. With Deepam Foundations Pvt Ltd you will find all the information’s that you need before you decide the right property for you in Chennai be it residential or commercial.
Article Source:
eArticlesOnline.com
}