Clients want to buy plots in Hyderabad but they need to be cautious about rules and regulations about land deals. There are the best plots for sale in Hyderabad.
The land is no doubt a preferred investment but as of now land prices have soared high across the city and are at their highest peak. In case a client is planning to purchase a plot then it is better to be aware of the pitfalls of purchasing process to avoid a bad deal and over expenditure.
Clients do want to buy plots in Hyderabad and naturally, they need to be aware of all rules about land.
What to keep in mind or rather not to do?
It is important to note that contrary to popular beliefs, every primary sale whether it they are plots, residential, commercial, retail, etc. In case, the deal happens to be beyond the basic prescribed limits/set timelines given in the act, that are covered by RERA and any person selling the plot otherwise it is good to report the matter to the TS RERA.
Prices are being hiked indiscriminately without any commensurate development and it is not uncommon to see land prices fluctuating every weekend.
It is fact that no other real estate transaction has the potential to become as complicated as buying land. Some of the land transactions tend to look rather simple. To begin with, the buyers are shown a simple-looking land parcel, and pitch ideas of a rosy future that lies had for them and also, imaginary connectivity from ORR or any other landmark/s are shown, clients do fall for it and also buy it.
Then the clients are exposed to unending stories of problems. Either title is not all that clear or it is a panchayat layout on which land regularization might now be required or somebody else also tends to claim ownership or the government starts an acquisition process, which the buyer was not all that aware of or land use is not what was promised.
Some do’s and don’ts for land deals:
- First, as well as foremost buyers, do require taking their time when dealing with land transactions and also be diligent enough to know the nuances of land deals. If time constraints are being put up as well as pressure is being built to complete a deal then it is better to be cautious.
- Avoid handing over money unless issues are clear.
- Buyers need not get perturbed seeing a lot of title papers. Apart from taking opinions from lawyers, it is necessary to read these papers. In the first reading issue itself, a person will become aware of many pitfalls.
- A wall or partition is desirable. A wall or partitions if and when built does have the best potential to get all possible problematic issues concerning the land;
- Ideally a liability clause should be included.
- One standard thing that few buyers make use of is to release a newspaper advertisement that does invite objections if any;
- Checking out the banks that are offering loans on the project
- Checking out the valuation that the standard banks are offering for the land. If the gap between the developer’s offer price and the bank’s valuation is indeed too high then it is a cause for further investigation;
- Whatever landmarks, as well as future potential projects, etc. being shown in the brochure, need to be checked physically just to be doubly sure.
- Panchayat layouts are indeed best avoidable. Prefer only HMDA approved layouts;
- Land within a gated community wherein the amenities need to be built by the builder is ideal. Amenities such as electricity, water, drainage, clubhouse, pool, etc. which need to be developed by the builder;
- It is important to check out the current rules and check if all rules are being followed or not.
Conclusion
Keeping these rules in mind a client can invest in the best plots for sale in Hyderabad.
