When it comes to real estate investment, land or open plots often score better over other property types. And if one manages to strike a safe deal, buying a plot can surely turn out to be sound investment option. However, given the blatant corrupt deals and practices involved in realty sector these days plot or land purchase has become tricky.
And therefore, land investment requires reasonable thinking, thorough research, careful analysis and even legal examination of certain factors before making the actual purchase.
Before taking that bold step, it is advisable for land buyers to check for the following factors to ensure that their investment turns out to be an income-earning decision. If you are looking for open plots in Hyderabad or land for sale in Hyderabad, this blog would help you in making the correct choice.
So WATCH OUT FOR:
Location: One significant aspect to take into consideration when deciding to buy a plot for investment. It is essential to look for the locations which are easily accessible. It is also important to determine the proximity of the locality from the city limits. Since location plays a significant role when it comes to getting RoI, never get lured by cheap deals or lesser priced land offers in far-off areas or locations with least development.
Plot Details: In case you are thinking to buy open plots in Hyderabad to build your home to stay there, the size or the area of the plot needs to be taken into consideration when deciding to buy the land. Ensure that you check on how much built-up area you will need to build your future abode. Along with plot size, the shape and direction of the plot also need to be determined. The two other factors to be considered while buying a plot are soil and topography.
Real potential of the land/plot: In addition to plot location, it is important to evaluate the potential of the plot in question before making a decision to purchase. Do your researches well, take legal expert advice if required or over even consult a real estate agent to evaluate the true value of the land/plot. Do not rush for buying the plot even if the deal seems great.
Verifying Title deed: Every one of us wants to buy an undisputed legal land. It is therefore becomes necessary to check for the clear title and that the seller has the right over the property. Verify the title deed of the seller of the property, that the land is in the name of the seller and that he has right to sell it. It is advisable to even consult a reputed lawyer over the title deed.
Builder Verification: It’s just not the price, location or the deal that determine your decision of buying a plot. It’s the credibility of the builder that also plays a significant role when it comes to making investment in land/plot. You get to hear that a particular project has got embroiled in legal issues or is under ‘litigation’. Therefore, it becomes very important to check for builder’s credentials. It is therefore advisable to verify the completed and on-going projects of the builders to ascertain the reputation of the builder.
Local body approvals: Often a nightmare, but an essential requirement nevertheless. One should ensure that the plots have got the all-clear and approval documents from the local authorities. If required, get the documents verified from the lawyer. When it comes to land for sale in Hyderabad, ensure that you go for HMDA approved plots in Hyderabad. If you are looking for plots in gated community, check that the layout has got that the layout has been approved by the required local body.
Encumbrance Certificates: This document declares that the land is free from legal and unpaid dues or any complaints. It is advisable to check for the encumbrance certificate for at least 30 years and you can procure the same from the sub-registrar’s office.
Property Tax Receipts: To keep yourself free from any taxation-related hassle, it is recommended to ask the seller for the original and previous tax receipts. Any unpaid tax due might land you in legal complication.
Along with the above mentioned factors, one should also ensure to research for any contingencies that may hamper the development of the property. Also, it is recommended to check if the loans on the land are repaid with a release certificate issued by the bank. Keeping the given factors in mind will ensure that buying a plot is a better investment option with high resale value.
If you are looking for open plots for sale in Hyderabad, you can find several great options in areas Yadgirigutta, Bhongir, Aleru and Gajwel.
Yadagirigutta holds growth potential for the real estate market especially for those willing to go for land for sale in Hyderabad as an investment option in the long term. The locality is connected with main city through Hyderabad – Warangal Highway. A suburb near Hyderabad, the location is best suited for land buyers looking to buy affordable and open plots for sale in future as the area offers large land parcels at affordable rates. You can easily get for YTCP approved plots or HMDA approved plots that fit into your budget.
Bhongir is yet another developing location near Hyderabad and offers a sought-after investment option for land for sale in Hyderabad following its proximity to Hyderabad. You can easily get plots for sale at affordable rates as the locality is still in the nascent stage of development. These two locations are buzzing with new and premium ventures.
Vishwadharini Developers have been serving the land buyers and land investors with the best properties in prime locations. Having successfully completed 6 ventures in Hyderabad – Bhongir, Yadagirigutta, Aleru and Gajwel, Vishwadharini Developers have emerged as one of the top real estate developers dealing in residential plots and open plots for sale in Hyderabad.