3 things to ensure when buying land

While buying land and plots, there are some important factors to keep in mind. Without these bare essentials, the purchase of a plot might wind up being a mistake rather than sound investment and logical income-earning decision. Regardless of where your plots may be – your own city or another city, these pointers will come in handy while you make the decision. Land is considered the most sought-after form of property there is –the appreciation in its value remains one of the biggest advantages that most other assets do not enjoy. In the long run, land and plots are always wise investment decisions to make since the pay-off is exceptionally high.

Insist on clear titles

To start with, you should ensure that your land or plot has an appropriately clear title that is not far from the city. Investments in plots should be a winning formula for large capital gains. When these lands are acquired, always make sure that the title deeds are clear – meaning, that there are no unclear deeds, or deeds where the ownership and the seller’s right to transfer the land to you are questionable. You should also typically get a title deed that is free of encumbrances – or if there are, you should be made aware of them. This is vital.

Make a practical decision

Investing in plots should also be practical. At one point in time, the interest was entirely pivoted towards hill station plots and lands in order to build holiday and vacation homes. This led to rising prices in the hills. Slowly, the focus shifted to beach houses and farm houses in the outskirts of urban and semi-urban settings. This has also slowly led to the escalation of rates in these areas. However, it is important to understand that investing in properties and plots of land in the outskirts of cities or locations that are not very far from the urban living space do not have the command to escalate to high prices as those within the city can and do. However, the matter is different if you see the possibility of the city expanding beyond the confines to include even the outskirts. For example, buying land in Navi Mumbai (Mumbai), Noida and Gurgaon (New Delhi), Sarjapur and Devanahalli (Bangalore), Salt Lake (Kolkata) and ECR and Taramani (Chennai) have paid off significantly.

Plot potential

While purchasing plots, the third factor to keep in mind is to remember the potential of the plot itself. For instance, lands along a beach side may be vulnerable to the incursion of the sea, or may be marshy lands that are unsustainable for construction. Farm houses, on the other hand, hold better promise. Hilly terrain should not be too contoured or constricting in its construction capacity. It is important, therefore, to focus on the long-term and the consequential implications in purchasing a given property.

If there are plots of lands that are not far from the city, that come with clear titles and have a lot of potential for the future, you are on the perfect investment route.