In India, people have always been keen on buying land as it is considered a fixed asset of the highest value. The land is one asset that always gives excellent returns and people owning large chunks of land are always respected. This is perhaps the reason why even today people try their best to buy land parcels whenever they can save some money. Since there is an increasing gap between the demand and availability of land, there is always a year on year rise in the prices which ensures excellent ROI for the owner. However, be it a land parcel or any other commodity, buying it can only be fruitful if it has all the papers in place and is located in a good place in the city. Here we shall look into all the aspects that one must look into before buying residential plots in the city so it can be fruitful.
Location: When you start looking for a plot or for that matter any property, the first thing that you must look into is the location. A strategically located property, even if it costs a little on the higher side is always the best buy as it can fetch better returns in the long run. Such a property, with the right permissions in place, can always be used to build a residential or commercial use building as per the need and intention of the owner.
Paperwork: Before buying any property, carrying out due diligence to ensure that all the paperwork is in place is also an essential step. Whether you are looking at residential plots in Amritsar or commercial use plots in Rohtak, having the right paperwork in place is a mandate. The paperwork must include the NOCs, the khata extract, the title deed, details of the owner up until 30 years ago, the registration details with the local municipal body, etc.
Neighbourhood: Whether you are evaluating residential plots in Amritsar or those in Haryana, you must be mindful of the neighbourhood that the property is in. This is extremely important from a security point of view as the neighbourhood needs to be safe and have educated people too.
Ensuring all of the above things can always ensure a good buy but if you want to buy a property that comes with all these assurances, opting for one within a gated community would be the best option.
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