With buying homes becoming out of reach for many and home loan rates shooting the sky there is another feasible solution coming up. Buying of land. Land purchase is another option where people are opting to purchase land on the outskirts or in their native place and as their budget permits they build their own bungalow, ground plus one floor, duplex or even some get the approval and build tall buildings on this land.
There are few very important points to consider when you go in for purchasing plots for sale.
1)First see the documents whether the land has clear title. The owner has to have clear title of the land they are selling. The land must be on name of the owner, or seller, and if there are a group of owners they must all be mentioned in the deeds and approval for selling by all of them.
2) The land must be NA plot, non-agricultural.The land must have the permission from the Government to build houses and must be clear of the title of agricultural land. All land is agricultural on the outskirts and approval is required to allow construction to come up. If not you will have to get the approval by submitting all the documents and get the approval before you can begin construction on such agricultural land.
3) Selecting a plot consider the environment, surroundings and facilities provided by the seller. The local village is near or far off. All daily necessities can be taken care of like electricity, water and in fact there have been cases where many plots are sold when there is no road or access to the plot!
4) Loan facility for purchasing NA plots is also available with many housing agencies. Many sellers have tie up with housing finance companies and you get loan to purchase land or plot. If you wish to give the total payment do ask for a reduction in the cost of plot, you can avail great offers and concessions when you are willing to make total payment at one time for purchasing a plot.
5) Get receipts of payment after your deal. You have to be careful if the plot has not get the approval of NA from Government and whether this is in progress you get a memorandum of understanding by the seller which states that the land has been transferred into your name, the buyer of the land.
There are few very important points to consider when you go in for purchasing plots for sale.
1)First see the documents whether the land has clear title. The owner has to have clear title of the land they are selling. The land must be on name of the owner, or seller, and if there are a group of owners they must all be mentioned in the deeds and approval for selling by all of them.
2) The land must be NA plot, non-agricultural.The land must have the permission from the Government to build houses and must be clear of the title of agricultural land. All land is agricultural on the outskirts and approval is required to allow construction to come up. If not you will have to get the approval by submitting all the documents and get the approval before you can begin construction on such agricultural land.
3) Selecting a plot consider the environment, surroundings and facilities provided by the seller. The local village is near or far off. All daily necessities can be taken care of like electricity, water and in fact there have been cases where many plots are sold when there is no road or access to the plot!
4) Loan facility for purchasing NA plots is also available with many housing agencies. Many sellers have tie up with housing finance companies and you get loan to purchase land or plot. If you wish to give the total payment do ask for a reduction in the cost of plot, you can avail great offers and concessions when you are willing to make total payment at one time for purchasing a plot.
5) Get receipts of payment after your deal. You have to be careful if the plot has not get the approval of NA from Government and whether this is in progress you get a memorandum of understanding by the seller which states that the land has been transferred into your name, the buyer of the land.
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