Things you should consider before buying a residential plot

Buying a home is a dream for most people, but there’s always a dilemma when it comes to choosing between a residential plot or a gated apartment. Taking all factors into consideration, buying a plot area is a better investment option with its high resale value.

There are certain factors you must keep in mind before buying a residential plot:

 

Location

This is a really significant reason when you decide to buy a residential plot. First and foremost, it must be easily accessible to the prominent areas of the city. Make sure you do not get lured by cheap deals at faraway locations. Location is a big factor when it comes to getting great returns on your investment too!

 

Value of the plot

Do not rush and buy a residential plot in haste, even if the deal seems great. It is advised to spend some time on researching the value of land and other advantages, before buying it. You can also consult a real estate agent to help you in this task, so that you make an informed decision.

 

Area of the plot

In case you decide to live here, the area/size of the residential plot is an important factor when it comes to making that decision about your dream home. Do check on the built-up area you need to build that home and also the topography and soil. After all, it is always better to be safe than sorry.

 

Builder verification

Sometimes, you hear that a piece of land is under litigation or is embroiled in certain issues. This is why it is suggested to cross-verify the seller. You must also verify their past and current projects or even post your queries on online forums. This is what will give you an idea of the builder’s credibility!

 

Title deed verification

It is important to check if the seller has a right over the property. The first step is to see the title deed of the land, which you are going to buy. Make sure you confirm if the name of the seller and that the full right to sell the land lies with him and no one else.

 

Necessary approvals by the local body

Make sure that the residential plot has been approved by the City Development Corporation and the local body. Check for the necessary approval documents and make sure it is verified by a lawyer. If it’s a large layout where builder plans to develop the plot, ensure that the planning permission and building approval has been obtained from the local authorities.

 

If you are planning to buy plots in Hyderabad, there are great options available especially in areas such as Mokila and Shankarpally. Both the areas are well-connected to Gachbowli, HITEC City and Outer Ring Road. Mokila is a 20-minute drive from the Financial District. Apart from enjoying good connectivity to major areas of Hyderbad, Mokila is also 4 kilometres from Raithu Bazar at Shankarpally. This area lies near the Old Mumbai Highway. It is reachable by the Outer Ring Road or Gandipet Road.

 

On the other hand, Shankarpally is a growing area near Hyderabad with solid infrastructure and connectivity to the city. It lies in close proximity to the IT corridor and is only five kilometres away from IIT Hyderabad. There is also limited availability of open plots for residential use in the surrounding areas, which ensures the area will not get over-crowded. Greenery, corporate schools and less traffic have played a significant role in attracting executives to purchase open plots in this suburb of Hyderabad.

 

These two locations are both beautiful suburbs near Hyderabad that provides you the opportunity of building your dream house on an open plot among lush green landscapes with a luxurious lifestyle experience. Make sure you do proper research before you buy a residential plot!

Last updated on January 11, 2019

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