When purchasing a plot in Bangalore, it's essential to have a checklist to ensure a smooth and successful transaction. Build Healer has more than 10 years of experience.
Here are some key points to consider:
1. Legal Due Diligence: Verify the ownership and legitimacy of the property by examining the land records, title deeds, and other relevant documents.
2. Land Use and Conversion: Check if the land is approved for the intended use and if it has been converted for residential or commercial purposes per local regulations.
3. Encumbrance Certificate: Obtain an encumbrance certificate to confirm that the property is free from legal liabilities or third-party claims.
4. No Objection Certificates (NOCs): Ensure that the seller has obtained all necessary NOCs from authorities such as the local municipality, water supply, electricity board, and environmental clearance, if applicable.
5. Property Dimensions and Boundaries: Verify the exact dimensions of the plot and inspect the boundaries to avoid any disputes in the future.
6. Infrastructure and Amenities: Assess the availability of essential amenities such as water supply, sewage, road access, and proximity to schools, hospitals, and shopping centres.
7. Resale Potential: Evaluate the future resale potential of the plot by considering factors such as upcoming infrastructure projects, development plans, and appreciation potential.
8. Financing and Payment Terms: Understand the financing options available, payment schedule, applicable taxes, and any additional costs involved in the purchase. By paying attention to these crucial factors, you can make an informed decision when buying a plot in Bangalore.
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