Plotted projects have been a significant real estate trend in India in recent years due to their
rising popularity. These plots are large pieces of land that may be utilized to construct houses,
apartments, and other kinds of buildings.
Recently, planned communities have begun to be offered within walled complexes, especially in suburban locations that offer lots of space and territory without compromising connectedness. Due to the multiple benefits that planned developments offer, a growing number of people are starting to invest in them.
Do you intend to purchase a lot or a piece of land? Perhaps you dream of owning a parcel of land in the future, if not today.
Due to the scarcity of land and the pride associated with owning your own plot where you may construct the house whatever you choose, purchasing property or a plot has in some ways become a premium thing recently, especially in large cities.
I'll list the top things in this article that you should be aware of before buying any property in India.
If you chance to go to a real estate show, you will see dozens of projects for building plots in addition to residential apartment plans. These plots are typically 20–100 kilometers from the nearest metropolis and are frequently sold as second homes or holiday properties. Additionally, the cost is reasonable (typically between 5 and 20 lacs) and there is the option of paying in installments, which makes purchasing a plot of land much too simple. Deals sometimes include paying a little amount up front and the remaining sum over time (EMI).
The hazards and difficulties involved with purchasing land are sometimes unknown to the average person, though. In comparison to buying an apartment, which is considerably safer, purchasing a piece of land is an entirely different game altogether. Today, I'm trying to explain things clearly for you.
Here, we'll examine five essential details you should be aware of if you're thinking about investing in or purchasing a planned development area.
When buying residential land, this is an important issue to take into account. It needs to be easily accessible from the city's major thoroughfares in the first place, which is arguably of utmost importance. Make cautious not to get lured in by cheap offers in remote locations. In order to get a good return on investment, the plot's area is crucial.
The plot's perimeter
The size and area of the plot are important factors to take into account if you plan to construct a home on the property you are purchasing for planned development. Verify the topography and dirt, as well as the built-up and carpet areas needed for your property. The plot's worth
Do not rush into buying a residential plot in a planned development, even if the offer seems fantastic. It is advised that you spend some time researching the value and other advantages of land before making a purchase. To help you with this task and enable you to make an informed decision, you may also enlist the aid of a real estate broker.
Verifying title deeds
It is crucial to ascertain whether the vendor is also the legal owner of the property or just the plot. The evaluation of the land's ownership rights is the first stage in the buying process. Verify the seller's authority to sell the property and that his name is on the deed to check whether they match.
When it comes to land titles, it is common to find instances where a plot of land is in dispute or has been encroached upon after being purchased. Sometimes you read or hear that a piece of property is the subject of legal action or is connected to particular problems. For this reason, it is recommended to double-check the merchant. To assess the reliability of the builder, you should also look into their previous and ongoing projects and post your inquiries on online discussion boards.
The local authority's necessary authorization
Make that the municipal corporation or development corporation of the city has approved the residential plot of the planned development. Examine the required permission paperwork and confirm that a lawyer is present to confirm each one.
The ambitious new project by Prestige Group, called Prestige Marigold, is the best-planned development in Bangalore. Customers may purchase 99 acres of lush flora as part of this structured development project. Self-sustainability is a key component of the growth plan. A large clubhouse with all the essential amenities, including a swimming pool, multipurpose room, restaurant, spa, and gym, can be found there. The project is also equipped with cutting-edge infrastructure and has seamless access to Bettenahalli's administrative centre thanks to its well-designed road network, which links it to all necessary urban comforts.
The Prestige Marigold project is a futuristic project built by the Prestige group keeping in mind the shift of the industrial, government SEZ, and expanding IT industry along with the new kid on the block, the Startups. North Bangalore will be the new Destination. The international airport here means the first entry to Bangalore will be at this location only. The massive job infrastructure being built here with new Tech Parks, SEZ’s, financial hub means the existing Bangalore workforce is shifting to North Bangalore along with massive migrants from other parts of the country for job opportunities.