When deciding on a home in a desirable location around a suburb then investing in a plot is the foremost decision that has to be taken by all investors. Life outside the metropolitan cities is shaped out of the notion of ready-to-move-in homes and this drives the settler especially in the suburbs to choose the perfect option to build their dream home in a plot. It is well known that investing in plots brings more returns and offers better options. Investing in a plot property is highly capital oriented and such should not have any room for error. The approach of check and balance should be employed by every buyer to avoid any legal complications. As per some reports, many top cities are introducing the concept of plot and it is making tremendous inroads in the real estate market. Henceforth, the trends of investing in plot development should be undertaken with calculative measures such as the following pointers. Pardos Okas Enclave best plotted development project in Lucknow.
Solving the Location Paradox
Finding the most perfect and fine strategic location is crucial when buying or investing in a new plot. The first step should be mapping out all key areas of the city that are in close proximity to the plot project. Accessibility is a pivotal criterion when investing for several reasons since it will in later times give higher returns. Considering a lucrative plot location will contribute to the resale of the plot so having complete prior knowledge of the locality, social infrastructure, and civil amenities is highly required. The social amenities such as water, sewer, and drainage systems are to be thoroughly inspected. Putting the area under the microscope for connectivity using the main road via connecting arterial roads is mandated. The ideal location should bring a package of premium amenities of green landscape, scenic space, and a neighborhood that is predominantly known for property valuations. Also, close proximity to upscale markets, closeness to markets, vicinity to warehouses, transport points, and freeways will play a pivotal role in the plot value in later years. Another key feature is the availability of transport facilities, health care, premium educational institutions, colleges, and all essential top-of-the-line facilities. In Sushant Golf City, Lucknow Pardos Okas Enclave is best plotted project for property investors.
Determining the Plot type and Sizes
Another initial scanning of the plot before investing in it should be determining the category of plot such as residential, commercial, or agricultural. Checking for the plot size is also essential and setting your exact size requirement will help in budget planning and others in the long run. Consulting the real estate consultant for the desired plot size is a smart move in getting what is needed. Understanding the topography and soil condition so the transaction of investment is conducted in a safer medium ensuring any difficulties ahead. Also, all the plots need to be checked for encroachment and squatters which will map out the clear dimension and size of the unit and also bring out any legal implications if they existed.
Choosing RERA Approved Plot Project:
In 2016 under the umbrella of the Real Estate Regulatory Authority Act a sitting committee known as RERA was formulated so that in every dealing there is uniformity and transparency acting as a regulatory body. What the statutory body encircled is that its function is not applicable just to an independent seller but to a recognized housing society or a real estate developer. So what it means is any buyer can get access to the plot information from the RERA website. Such facilities are integrated seamlessly with RERA regulation seeking all states and Union Territories to register online. Such an option makes all processes smooth and the documentation even easier.
Transparency and Clarity on Documents:
Make sure that all the documents of the land are in place to avoid any unwanted encounters in legal disputes. The following documents are to be found when any land is sold. All the required documents are the 7/12 document which specifies the Title and proof of right, the 6/12 document for any past arrangement such as details in a change of land ownership, the 8/A booklet highlighting the details on tax and land revenue tax, and DC certificate showcasing the plot land is not applicable to agricultural land and it is a residential investment. A legality-free plot is the ideal one hence property Tax receipts and other documents should be in hand. It will ensure that you don’t have to go through any tax problems with the seller.
No Voice is raised from the Local Community:
Clear approval from the local authority is required since they are also in the ecosystem. After the procedures are met with maximum satisfaction make you check in with the society that all-clear titles of any deeds on the purchase of land are cleared. Double check everything with a professional lawyer and everything is verified and updated. For instance, if the developer is making any plans for the future to redevelop the plot in this case proper permission and approval concerning authority have been received. The neighborhood is a critical aspect when it comes to choosing the best plot available in the market. In this note make sure some of the views of the neighbor are taken into account. After all, you would not be living alone in the society that you are constructing, you also live in the society. With you being peace and harmony in the community.
Long-term prospect of the Area: Prospect of development
Put the region under the lenses of the development prospect. Starting from everything that surrounds the plot property to what it is connected to if you want to make long-term income revenue out of the plot. Note down what the housing community around the property will shape into like in five, ten, or even fifteen years to see the development trajectory. If you manage to seize a patch of land in an area that is about to be connected with an airport, a new school, or a metro station, the value of the area will reach above the roof.
New Launch Property in India 