Hope you all are doing good and with the year coming to an end and the new year just approaching, many of us would love to make a new beginning by purchasing a new plot or a piece of land so that their future gets secured and also adding more value in terms of investment. Let us see how this all goes.
Don’t just get carried aways blindly
A vacant area of land or plot is no less than a jewel which seems to be lucrative. You just cannot hastily talk to the owner of that land/plot and come to a settlement just in one day. You as a prospective owner of that plot must do a good amount of homework, take some time before coming to any conclusion.
Did you ever wonder why the land lay unoccupied for years even when there is development taking place around that land or plot? Now, this can be either due to ongoing litigation or simply the owner of that plot isn’t interested to move ahead. This scenario can arise in any part of India. As far as Hyderabad is concerned, there are important bodies that play a vital role in your purchase of land or a plot. They are ;
-   HMDA (Hyderabad Metropolitan Development Authority)
-   RERA (Real Estate Regulatory Authority)
-   DTCP (Directorate of Town and Country Planning)
Are you aware of the different steps involved in the purchase?
Never ignore these important checks, when you have made up your mind to purchase the land :
-   The first and foremost is that if it’s a layout, then it must be approved by RERA. This will ensure that your plot/land can be sold easily to others in the future.
-   For the construction of a building or complexes in towns and cities, a technical approval from the DTCP is a must.
-   Again, the plots can also have an approval from the Gram Panchayat with good titles that are a must.
-   “Title deed” is a crucial document that depicts the ownership of the land.
-   An “Encumbrance Certificate” is mandatory to obtain a home loan approval from the bank.
-   One must ensure that all the appropriate taxes and bills have been already paid by the previous owner and there are no pending bills.
-   Next in the list is “N.A. Order”.(Non-Agricultural). Since most of the land in India falls under agriculture category, an appropriate category of this N.A order needs to be obtained and for plots it is often N.A- Residential subcategory.
-   Next you have to check the “Power of Attorney” (POA). When the owner of the plot or land is an NRI, then he/she can appoint an individual who has the command to look after this ownership and this newly appointed person is known as the grantor or the principal.
-   Ensure that the plot is not under litigation before buying. Consult residents in and around.
-   Now that 98 % of your job is already done, all that is left now is the “Sale deed”. This final sale deed is done on a stamp paper which has the name of the seller and the buyer with a seal and stamp from the relevant authorities, along with the amount. This document proves that the land has been sold successfully according to the norms to the seller. This document might contain anywhere between 4 to 7 pages, that also has special pages of its previous owners along with the map of the land, fingerprints and aadhar card details.
All you need is relevant information to build your confidence
Did you notice how simple it was to understand the documentation part involved in a land or plot purchase? The real estate sector is booming in Hyderabad and purchasing a good plot or piece of land can be challenging. All you need is some extra time, patience & confidence. Srihi Infra provides you with excellent open plots near Ibrahimpatnam and as the best real estate service provider in Hyderabad, their team is always ready to assist you in terms of documentation, general queries and bank loans. With HMDA approved plots & RERA approved layouts bringing you the much needed relief and joy, so why run from pillar to post when the golden opportunity is already knocking at your door? You can reach Srihi Infra on +919000688888 or srihiinfra.com