Guidelines to Purchase Plots in Bangalore
Rahul had been in Bangalore for the last seven years. The year was 2010. He arrived at the Silicon Valley of India as a bachelor with a head full of dreams and hopes, bags full of belongings, and an empty wallet. He had very little to spare so he had to get a job first. Rahul attended off-campus interviews and job fairs, applied in every Naukri job posting he could get his eyes on, called every consultancy in the city, and even applied on every Instagram job post he came across.
After landing his first job, time seemed to zoom by. From a PG room he stayed in, Rahul soon moved into a 2 BHK with his girlfriend. They adopted a dog and lived happily for about 4-5 years. The girlfriend evolved into a wife that he now loved with all his heart. He loved his new high-rise apartment in North Bangalore and the perfect job at Manyata that allowed him to pay for it.
He had everything he dreamt of. Almost everything. Ever since Rahul was a kid, he wanted to buy land. After falling in love with the city, Rahul decided he’d live in Bangalore for the rest of his life. Soon after, he started his plot chase. From builders throughout Bangalore to brokers and relatives, he tried it all.
There was so much to look into. Does the property have the right approvals? Does the seller have the required deed agreements? Is it a good investment to purchase land in Bangalore right now? Rahul needed someone to answer his questions and you might too if you’re looking for the right plot to fit all your needs.
Purchasing a plot might seem like a simple financial transaction between the buyer and seller. However, in reality, it is a little more complicated than that Corruption, multiple buyers, and people selling the wrong land with forged documents are some of the factors to weigh in before you go ahead with your decision. Buying a plot in Bangalore can be a complex affair but with due diligence and proper vetting of documents, the process gets simplified. Your perfect plot chase ends here.
With properties in and around Bangalore, please get in touch with the developers/sellers about the sale deeds, property evaluation, and the scope the land has to offer. Establishing the identity of the seller is the foremost step that needs to be taken before purchasing the plot. If the seller is a company, verify its ability to own and sell a property. Ensure the documentation process is complete, concise, and has every detail about the plot, the seller, and the buyer. The following documents need to be inspected clearly and keenly to avoid future confusion:
- Title Deed: The Title Deed has information about the change in ownership of the land as it is transferred. Trace the ownership of the land and check for any discrepancies. If you find gaps in ownership of the land, contact the seller and address your concerns. Always check the original Title Deed of the land. The Title Deed of the plot must be unambiguous.
- NOC and NA order: Ensure you’ve got the right authority (BDA, BBMP, BMRDA, BIAAPA) approvals for the layout plans and buildings. BBMP provides the Khata and is also responsible for tax collection. The different authorities issue the NOC (No Objection Certificate) for various zones around Bangalore. By default, all land in Bangalore is classified as agricultural land. If the plot purchase is for non-agricultural practice, please secure the “NA-Residential” order.
- Encumbrance certificate: Please check if the plot has a valid Encumbrance certificate to verify that the land is free of legalities. It is essential as it is proof that there are no pending dues or litigation against the property.
- Conversion and Land Approvals
- Release Certificate and Receipts of Property Tax: Make sure you have originals for all the documents, tax receipts of past months, sale deeds, and resale documents in order. Keep photocopies of these documents as well.
Society projects are worth looking into when you think about good investments which are safe and reliable. Projects that are part of Housing Boards provide amenities; mark distinct boundaries, provide multiple entry and exit gates, and ensure effective and efficient water, electricity and gas supply.
One must also ensure that the construction approvals are in place for future requirements and to avoid the hassle of getting appropriate approvals later on. Check for the present and proposed connectivity options in terms of roads, nearby landmarks, metros, bus stops, and so on.
Please visit the site before rushing into anything and ensure you collect relevant details about the property after possession as well including the annual maintenance fee. Other than the multiple verification steps discussed above, background checks, and due diligence there are real estate developers who are experts in the domain of real estate. These expert Developers in Bangalore are here to ensure you invest in the right property with your merited income.