Thinking of buying a vacant plot in Bangalore? With the rising demand for open plots, there couldn’t be a better time to invest in them.
Investing in villa plots in South Bangalore can be a good choice. Apart from that, you could also look out for gated community plots for sale in Bangalore. Keep reading to find out ten quick tips for first-time plot buyers: –<
Top 10 Tips for First-time Plot Buyers
Be Ready with your Finances
Many first-time plot buyers tend to make an offer even before organising their finances. Yet, it’s not a good practice in the real estate industry as it shows that you’re not serious about the investment.
When you’re buying a plot, agents and sellers expect you to be ready with all your finances before offering to buy. Doing so also helps you avoid cash hassles once you’ve made an offer.
Take a Look Around
Your quality of life is determined by the type of environment you live in. So, look into the plot’s setting by asking questions like:
1. Is the location subjected to traffic pollution or noise?
2. Or is it located near a stinking water body?
3. Or is it located close to industrial and commercial zones?
If yes, you might want to look for alternatives.
Understand the Zoning Restrictions
Many plot buyers fail to know about the zoning regulations of the plots. Let’s consider an example:
Are you planning to construct a home on your plot? In that case, don’t invest in the non-residential zone. By doing so, you would be violating the law. Similarly, there might be other violations you should avoid.
Look out for Other Laws and Regulations Too
Apart from zoning regulations, numerous other rules apply to your plot. So, consult an expert to check if it abides by all the rules and regulations.
Ensure Proximity to Necessary Facilities
The value of your plot increases if it is close to the essential amenities. So, try to invest in plots near prominent universities, schools, colleges, malls, supermarkets, and stadiums. If it is close to these critical facilities, you might not want to give it a miss.
Check its Connectivity
The value of your plot is determined by how accessible it is. As a result, it’s preferable if your plot is easily accessible.
If you decide to invest in a rural or semi-urban area, be sure you have easy access to it via roads, railways, airports, and other modes of transportation.
Check the Availability of General Utilities
Conduct a general survey or ask around to check if the plot’s location has important modern utilities. Primarily, understand if you have a working electricity connection, water connection, drainage pipeline, and internet access.
Check the Legal History of the Plot
Before signing a deal, inquire about the legal history of the plot. You may do so by visiting the relevant government authorities. Check for pending tax dues and understand if it was the subject of any dispute.
In the agreement, make sure that the seller informs you about this, in detail. After all, it’s an important step to step into a hassle-free future.
Verify the Measurements
Land encroachment can be a common problem for plot buyers. To avoid such issues, get your plot inspected by an experienced surveyor to understand if any building surrounds it. In such cases, verify the land’s measurements and check if you’re likely to face any encroachment issues.
Make Sure to Invest in Reputed Sellers
Investing in smaller projects might seem affordable. Yet, it comes at a cost: compromise on your investment’s security. Smaller projects carry a higher risk of scams and frauds. So, invest in well-known projects led by reputed builders with a trustworthy track record.
Plus, if you’re planning to sell your plot, the builder’s goodwill will work in your favour. It’s a win-win situation.
Final Words
Purchasing a plot of land might be a wise investment. However, you must be aware of all the potential stumbling blocks. As a result, strive to get your questions answered right away. Check out Address Maker for some of Bangalore’s most prestigious real estate projects.
