Friday, November 16, 2018

Look Out For These While Buying a Land

Planning to buy a residential plot?

The land is the most preferred form of investment. Land always fetches you high returns than investing in flats or individual homes. The land is always an asset if invested in the best location with a good developer. Real estate has emerged as one of the frightening area where one needs to be more careful since people face more fraud dealings and transactions in the property buying.

Land mafia has occupied all corner of the city making and is a nightmare for the investors/buyers to invest their hard earned money. Encroachers and illegal possessions of the land have scared the whole system of real-estate. Prominent players in the market are aware of the do’s and don’ts of the market hence, properties developed by the trusted builders are the first choice of investment.

To not get into the trap of Land mafia and fraud property dealings it is advised to approach a trusted builder in the market for many years. Do a complete encounter with the legal side of the property before even making the decision to invest. Approach the legal advisor/lawyer and get the opinion on the documents provided by the builder. Registered property with all licenses from the branded and trusted developer like Godrej Properties shall be your first preference always.

Examine these approvals and licenses

See whether the developer/seller has a right over the property by checking the Sale Deed / Title Deed. It lets you judge if the builder is genuine or not. It is a record that gives clear picture of the actual transfer of the ownership of the land. Sale Deed / Title Deed should be registered at the sub registrar’s office under the jurisdiction to which the property belongs.

Release certificate: This document is valid when buying a resale property. Make sure that the bank has given a release certificate which makes sure that the loan on the property have been paid/cleared.

Khata Certificate (as referred by Karnataka Government) gives the proof that the land is registered in the limits of local municipal records. Various Grade certificates like A Khata and B Khata will be issued depending upon the rules and regulation of the government.

Property Tax Receipt gives a clear idea of the tax paid by the previous land owner in the past years. It gives you an idea to know if any tax dues on the land.

Encumbrance Certificate issued by the government lets you know whether the land is free from all legal dues or the legal debts.

To make sure if any loan is outstanding on the property, look the Statement from the bank if loan was taken on the property.

No Objection Certificate (NOC) from Sewage Board, Environment Department and Pollution Board.

To be on the clear side that land developed by the builder has not deviated from the sanctioned plan, check the  Sanctioned building plan issued by the statutory authority.

Finally, Power of Attorney (if any) gives you the clear picture of the original owner and the transaction made on the land. It specifies the present owner of the land.

Finally while taking the call, Check the potential of the plot and its growth prospects. Make a logical income-earning land investment by buying a plot on Godrej Reserve project developed in the best locations of Bangalore.

Make the perfect land investment in Godrej Reserve

Godrejreserve plots are excellently designed project located in the pristine location of Devanahalli in Bangalore which includes 950 plots in the project. The property is spread over 93 acres of land to accommodate the all the plots as per the plan with enormous open space between plots. This project is a RERA ACK/KA/RERA/1250/303/PR/181023/002738 approved housing venture that fetches you high returns for your investments made. Godrej group have planned to launch 450 plots in phase 1 with various configurations. The Launch of the massive township project will be taking place soon.

Godrej Reserve is a new property in Devanahalli Bangalore.
Godrej Reserve

Godrej Reserve plots are well-planned and designed to include lands in the configuration of 1200 sq.ft, 1500 sq.ft, 1800 sq.ft, 2400 sq.ft and 3200 sq.ft and to choose as per your needs. Sites are ideally designed in a forest theme premises amidst 60,000 various species of trees for the amazing fresh breeze and healthy living.

Make a practical investment that fetches you return.

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