It has been a well-known fact that plots score better than other property types in terms of returns. Thus, if you manage to strike a decent or rather ‘safe’ deal, buying Plots in Chennai is often a rewarding purchase considering rising property prices.
When it involves investing in land, the land is the most preferred form of property. However, when buying land it is important to keep certain important factors in mind, without which your purchase might not be that sound investment as you wanted it to be.
Local approvals: Check and make sure that local authorities have given the all-clear on the plot of land.
The key to large capital gains through land purchase is to get a plot for sale that’s free of encumbrances. That usually means land that has just the correct papers for your peace of mind.
Look at the biggest investment picture
When you are investing in a DTCP Approved plot in Chennai, it’s important to know its financial landscape and have a glance at the bigger picture. You are looking at capital gains, after all. Do your research and appearance at plots that provide good value immediately and significant appreciation within the years to return. In the stock market, this can be called value investing – picking undervalued stocks and expecting their appreciation.
So, while properties located inside the town limits have higher escalation value compared to properties located far away from the town or on the outskirts, this might not remain the same. As cities expand, outlying areas start to appreciate.
This is a significant reason when you decide to buy CMDA Approved plots in Chennai. First and foremost, it must be easily accessible to the prominent areas of the town. Make sure you are not lured by cheap deals at faraway locations. Location may be a big factor when it involves getting great returns on your investment too!
Value of the plot
Do not rush and buy Plots in Chennai hastily, even if the deal seems great. It is advised to spend some time researching the value of land and other advantages, before buying it. You can also consult a real estate agent to help you with this task so that you make an informed decision.
Verify the builder
One may often hear that ‘the piece of land is under litigation’ or other issues. Hence, it’s recommended that you simply do a cross-verification of the vendor (in many cases it’s the builder). You could verify the past or current projects (Plots in Chennai) of the concerned builder or even post your queries on the online real estate forums. This will offer you some ideas about the builder’s credibility and reliability.
Land Use Certificate of Plots in Chennai
Most of you’d already been knowing that constructing a property for residential purposes in a commercial zone is against the law. You need to use the event authorities of your respective city to verify if the residential property that you simply are getting to buy is within the residential zone and not in the commercial, agricultural or industrial zones. Residential properties shouldn’t be bought for commercial purposes without the approval of the urban development authorities. Thanks to “Zoning” you won’t be surprised if one fine day you get to understand that you simply bought a plot for residential purposes in a commercial zone and that too without the approval of the authorities concerned and your plot is being demolished by them.