Things to know if you are buying plots in Bangalore:
In India, jewelry and land are assets that improve the life financially, and the status improves in the society. Investing the major share of the savings in the land or any property has to be done with care, for you cannot expect to lose everything. Most of the people do know that they need to check if the land belongs to the owner, who sells the land to him or her. It has to be taken into note that people who sell plots in Bangalore, are not always reliable, as in every other domain there are bad apples here too. So, ensure that the property has been undergone a legal check through a reliable lawyer. If you think that you can go ahead and pay for the land, better get the verification done through a lawyer of your choice. There are things to be checked like, if the third parties hold any rights on these lands, and take a look at the papers. One fine morning, if you are woke up with someone coming knocking the doors, calling the property is a piece of the reserved land, then you would be devastated, for you would actually get no compensation and can face charges in addition.
What should you be aware of?
When you invest in the real estate properties, always do not think that you will get the profit in a couple of years. The value does not get doubled immediately and it takes its own course of time. If you are getting the land for constructing the property, and you are looking forward to start the construction immediately, then the property must be closely located to the city, and hence you need to check for the proximity to the highways, roads, workplace, schools and other places.
If you are getting the land from a developer, you need to get to know about the operating history of the developer. Check if they have stuck to the promises, and if the facilities are great. Verify the following documents, so that you are on the safer side:
- Title deed, mother deed, sale deed, and conveyance deed
- RTC certificates
- Mutant certificates
- Copy of the possession document
- Sale agreement with the seller
- EC up to last 13 years
- NOC from the government, society and building
- Approved plan
- Deed of declaration
- Latest Electricity bill
If you have done this, then you are on the right track, and will certainly reap benefits from the property.