Buying a plot of land? Here’s what you should know before you sign on the dotted line
– There’s no such thing as a fast profit.
– Let good judgement, common sense and reason be the guiding principles when investing in plots of land for sale in OMR. Trust only renowned flat promoters Chennai.
– When comparing apartments for sale in Ayapakkam versus land for sale in OMR, remember that first-home flat ownership provides a sense of emotional satisfaction. Clear-title plots in opportune locations can fetch enormous ROI & are great options when the purchaser wants to be totally in charge of his/her home layout and ownership. Think wisely, invest intelligently!
There’s a great deal of dynamic discussion among home purchasers about whether buying a plot of land for sale in OMR is viewed as a smart thought for a first-time homebuyer or is it maybe more fit for a second-home purchaser.
Contentions put forth a defence that a first-home buyer looking for apartments for sale in Ayapakkam is searching for a fixed-asset that enables financial stability as opposed to capital appreciation. Furthermore, this segment of home buyers is keener on fulfilling his/her need for owning a resource that they can call their own.
Concerning the second-home purchaser segment, their motives are more business-like – One, they are seeking attractive capital appreciation and two, they desire a utilitarian home that suitably fills the need of the family as a weekend getaway or serves as a retirement nest-egg in the future.
To buy or not to buy? Renowned flat promoters Chennai
In both cases, what’s straightforward is that both, the plot buyer’s considerations and the first or second home buyer’s objective are that both these segments are looking for a budgetary allocation that is deserving of their life’s savings. And, the investment must complement their ‘’lifestyle wants & needs’’ independent of the age/salary category they are in.
Considering both these schools of thought, we’ve put together a compelling tell-all guide specifically for plot buyers and the things to look out for before making a purchase.
A word of advice: The points mentioned below are predominantly aimed at plotting projects or gated projects, though you might find that many points might likewise apply for independent land parcels.
1. Scrutinise the land title with a fine-tooth comb – Land for sale in OMR
Any developer worth his salt will first want to hand over a duplicate copy of the land title to his customers. Why? This is crucial because handing over for scrutiny and the checking the title by the potential buyer is (and always ought to be) one of the most critical checks to make even before the remaining documents can be verified.
With this authentication, the plot buyer will know if the developer has legitimate rights to sell the land and also come to verify who the present proprietor of the land is.
As many fly-by-night developers tend to do, they tend to either purchase land from the past proprietor or go into a cooperative consensus with the proprietors to sell or build up the land. Regardless, ensure that the proprietorship of the land is crystal clear.
Request the records which show the developer has lawful rights on the plot before proceeding to the next step of verification.
2. Is there sufficient infrastructure & provisions for basic needs – Apartments for sale in Ayapakkam
As renowned flat promoters Chennai, we suggest that plot buyers must authenticate this crucial detail along with the one mentioned above.
As is known, water and other essential amenities are important factors that will decide the fate of the plot saleability in the future.
Ensure that you ask how the plot developer or the project with land for sale in OMR will make provisions for water and other essential infrastructural facilities. Is the provision for the essentials going to originate from the district authorities or the gram panchayat? Or does the plot developer have an independent plan for it?
Furthermore, pose different inquiries such as –
- Power supply: Shouldn’t something be said about power supply? Where will the supply come from? Will the project with land for sale in OMR provision for an individual power meter? To what amount would the expenses be for it?
- Road: On the off chance that the plot is far-flung and too far away from the main street, what is the provision for the frontage road? What is the provision for motorable road access and the construction of the internal roads within the project? Construction liability and answerability remain with which authority?
- Waste treatment & sewage facility: Ask if there is a waste treatment facility? Is the project with land for sale in OMR consisting of a clear cut facility for sewage treatment?
- Demarcated units and fencing: Enquire whether the developer plans to give demarcated units and individual fencing of plots?
e. Safety & Security: A two-layer of protection or a single-layer one, ask and check what provisions the developer is making for the security of the plotting project.
