Hyderabad is undergoing rapid urbanization which has led to the emergence of new suburbs and peripheral areas around it. Now, areas like Patancheru, Shankarapalli, Nallagandla, etc. are gaining popularity among people who are looking forward to invest on plots in Hyderabad. However, the most important question is whether these plots in Hyderabad are safe enough for property investment or not.
Besides, buying a plot of land is also an important decision as it involves your hard earned money. So before you jump on to invest, here are 5 factors which are essential for plot investment checklist.
- Ensure to verify about the owner of the land
Before making a hasty decision over buying the piece of land, it is imperative to thoroughly check if the seller/builder actually owns it. If you don’t do a thorough verification, you may end up falling prey to a scam and to avoid that you need to be careful about every minute detail. Also, check if the seller has the legal rights to sell the plot and get legal help if needed.
- Don’t forget to check the Floor Space Index (FSI) of Your Plot
Before you get started with the construction of your house it is essential to have a clear idea on the total area of land you are investing on. And to be crystal clear on that, you need to enquire about the Floor Space Index (FSI) of the plot. It primarily depends on the location of the plot. And if the FSI of the plot is less then you won’t have a lot of space to construct and it would be an utter waste of the plot.
- Check History of the Land
In some states, it is essential that you check the ownership of the land in the past decade. The ownership should have been properly passed on and there should be no gaps in between. This will help ensure that there are no disputes over the land in future.
- Get the Sale Deed Document
Most of the people believe in the ‘agreement of sale’ document. But this document doesn’t prove that you are a valid buyer, it just signifies that both the buyer and seller have agreed on certain terms and conditions. That’s why it gets extremely important to get the sale deed, which is the legal proof of the sale. Therefore it is advisable to get the sale deed, which is a legal proof of the sale and once you have registered, it is officially yours.
- Is the Plot Well Located?
The first and foremost thing you should look for is the location of the plots in Hyderabad. This will ensure a good resale value. Also, don’t forget to check if the plot is located on a flat piece of land!
Buying a piece of land in India can be daunting, but if you know the basics right, you are settled. With this checklist you can get a hold on a good plot in Hyderabad. Now that you’re fully equipped, it’s time to take the first step towards your dream home!