Friday, April 24, 2015

Things to consider if you are buying land

No matter what your bank balance or your salary is or how many fixed deposits you have opted for, owning a property has always been an assured investment for most of the Indians. People who have money and people who don’t or with a tight budget buy properties. No wonder every one of us want to buy properties and that is considered as a kind of social security at old age. People consider your wealth by the property you have bought in your earning life. In search of a fruitful investment people are even seen to go to the outskirts of the cities or the urban areas. Many hunt for properties in search for a home to shelter and many search land plots for investment purposes. Whatever it is there is always a debate whether the investment in land or home or apartment ensures more returns. The debate probably will continue as there will always be fluctuations according to the micro-market conditions and the overall economic conditions.

Especially in India, not only is the investment considered as a security measure or the measure of asset one accumulated in the lifetime but the success quotient is also measured by the fact whether you could afford a land plot with your income. The investors for many reasons like starting small with a tight budget or even with a dream of building a dream home start with buying a land. The expert realtors discuss the benefits of buying a land.
  • Firstly a land plot gives you the choice of constructing anything that you feel like or a dream home of your liking.
  • Plots assure high returns in the long run.
  • The prices of land are lower as it’s hard to find land in the central parts of the city and hence people go to buy land in the outskirts.
What should one be careful about?
  • Plots should not be counted for quicker returns as mostly the plots are in outskirts or developing areas and it takes time for the prices to escalate.
  • One should know the plan of the local authorities and then select a plot with infrastructure advantages and one should not compromise on prices.
  • Lands should not be bought from unstructured seller or aggregators and many a times the additional discounts being offered are to lure customers to increase their profits.
  • Reputed developers are always advisable if one wants to buy land from as that can minimize the hassles of legal disputes later on.
  • The documents should be scrutinized by lawyers and there should be clear titles and sole sellable rights of the seller. Check with the sub-registrar’s office.
  • Check for the job generation aspects of the area or infrastructure facilities like whether there is a probability of upcoming famous educational institution, IT Park or even roads or metro railway projects being planned.
  • Every city or its municipal areas have their own respective laws and bylaws and it’s always better to check for those before buying the land property.

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    1. Kalpesh UpadhyaMay 4, 2015 at 4:45 AM

      Very good points to be noted before going to visit any sites or planning to buy any plots in Bangalore. Today most of the investors and residential buyers only search for affordability where as future prospects are equally important to measure before making any deal.

    2. Every investment has its risk, this blog remind me one incident when I was working for a financial institution. I had a client who regularly invests on stock market and usually gets good returns on his investments, I don’t know whether he has some statistics to choose unique stocks or it is just his luck that fevers him all the time. In some cases he used get double as his investment returns. Inside the story there is one more truth which I discover later when I had a discussion with him on his investments. He explained that there is equal chance of losing all money which he had faced and gave a brief on the relation between risk and returns.

      For a safer site people who want a good return on their investment with a security of no loos than investing on land property is the only best way. It won’t take much calculation or studies before investments plus it will give you a social stability.

      1. I am sure that investment on land property don't make any future loos even in exceptional cases you will never loose your money regardless if you bought it in the exact market offering price. It supports you as a back bone of your financial structure. But as every investment has some risk so buying land is also associated with some risk, As discussed in the article that you should by it from a reputed builder to sure about the deal. There is a lot of land scamers and developers with differnt names are activated in real estate market of Bangalore, that you should aware of. So don't just pray for property to any developer, my advise here will be leave if you find anything messy within the deal.

    3. Dwarikanath SharmaMay 6, 2015 at 3:01 AM

      Today every 2nd builder in Bangalore is thinking to construct affordable houses and apartments. The reason may be various but the aim is to acquire the biggest segment of the market. So most of the lands and layouts developments are targeted in out skirts of the city because of the availability and low price. Today people also getting tilted when they are finding plots and lands are selling at such affordable price in Bangalore. But here the catch is “are these land and plots are genuine and approved for residential purpose?” Haphazardly buying plots only because it is discounted and seems very low priced comparing to neighbor could be dangerous.

      1. It might be hard enough to find whether the papers of the land and layouts are geniune or not for a common man. But In case of TGS Layouts I think they would not be doing such activity which can be seen from there promotional activities. They are sponsoring themself as a brand and they came to play a long run.

    4. Manjunath GowdaMay 8, 2015 at 2:19 AM

      Before investing on anything investor always calculate what would be its projected returns and how risky it is. Here in this article I think the writer has focused on all the possible threats that an investor might face. I appreciate your work and hope you will come more on this type of article in near future most probably looking for article on land documents and about the agreements with developers.

    5. Everyone needs a home to leave and this is a universal truth. The foots stepping in Bangalore for career search, one day when they are established they are also searching places to settle down here. Unaware of the market situation and they have been trapped by the real estate developers. This kind of article will certainly give them a close idea to prepare themselves before visiting any real estate developers for property.

    6. Hi, These are very helpful points to explore the property search and the common mistakes that a normal person does during his deal. I believe more than half of the people lives in Bangalore are living in rented house and these people also get trapped by the owners. Sometime they get deducted from there security money and sometime they have been thrown without any prior notice. So I request in future if it is possible then come up with some guidelines for renting a property or taking lease a flat.

    7. I think everyone who is buying property must be careful during his deal with the realtor because builders can make anything possible. There are several examples that a real estate agent sold one property to several people. Also victims are there who bought same sized plots in same area with huge difference in their price. So people who are buying property should be aware of such activities.

      1. Here are there valued points before investing your hard earned money in real estate. and here they explained about how the builders lure the customers.