If you're looking for assistance in buying the right land, here are some key considerations and steps to keep in mind:
Define Your Purpose
Clarify the purpose of buying the land. Are you planning to build a first / second home, start a project or make an investment? Knowing your 5-year outlook would help in narrowing down your search.
Location: Consider the location marked in the city’s masterplan carefully. Factors such as proximity to proposed Infrastructure, amenities, schools, hospitals, and potential for future development can significantly impact the value of the land.
Zoning and Land Use Regulations: Check the zoning regulations and land use restrictions in the area. This information will help you understand what kind of structures or activities are allowed on the land.
Accessibility and Infrastructure - Assess the current and future accessibility of the land. Check if there are master plan roads leading to the property and if it has access to utilities like water, electricity, and sewage systems, under the proposed master plan OR developer’s project plan.
Topography and Soil Quality - Examine the topography of the land. The type of soil and its quality are essential even if you don’t plan to engage in agricultural activities.
Environmental Considerations - Be aware of any environmental factors that may affect the land, such as flood zones, soil contamination, or any kind of restrictions on the land under the various urban plans.
Land records: Obtain the Khatauni / Shijra / other relevant records from the revenue office to confirm the legality, size, boundaries and shape of the land. This helps avoid potential boundary disputes with neighboring properties.
Market Research: Research the real estate market in the area to understand the current property values and trends. This knowledge will assist you in making an informed decision.
Financing: Determine your budget and engage with your trusted consultant on the modus, timelines and transaction details including discussions with the seller. If financing is an option, always consider it since the banks also do their own due-diligence.
Legal Considerations:
Get a formal due diligence / Title search done including obtaining certified true copies of the revenue records from the tehsil. Make sure you have a trusted consultant who’s well versed with the land laws. Ensure that there are no family disputes, liens or any encumbrance on the land.
Visit the Land: Visit the land in person to get a firsthand feel for the surroundings, neighboring properties, and any potential challenges or advantages.
Remember, buying land is a significant investment, so take your time, do your research, and seek professional advice when needed. Working with a qualified real estate agent or land specialist can also be beneficial in finding the right piece of land for your specific needs.
