Plot is a Better Investment Option in Bhiwandi, Maharashtra, India by Ajmeria Property

Plot is a Better Investment Option in Bhiwandi, Maharashtra, India by Ajmeria Property
Buying a plot in any part of India can be challenging unless you have sound financial backing for initial investment. Banks do offer a loan for the purchase of a plot and even for construction such as SBI Realty, HDFC Plot Loans, Indian Bank Plot Loan etc. However, the associated tax benefits are subjective to whether you complete constructing a house on the plot or not, and even if you do, the benefits are offered only for the first year.
Documents to Be Checked Before Buying a Land
Document What to Check?
Title Deeds ·        If it is in the seller’s name alone and no other person is involved
·        If the seller has permitted access to others through this land
Tax Receipt and Bills ·        Property taxes paid to the Government is up-to-date with latest receipts
·        If there are any notices of requisition relating to the property which are outstanding
·        Water and electricity bills have been paid up-to-date
Encumbrance Certificate ·        Ensure that the land does not have any legal dues attached.
·        It is issued by the sub-register office where the deed has been registered.
Pledged land ·        All loans for which the land has been given as pledge have been repaid
·        Release Certificate issued by the bank
Land Measurement ·        Land Measure before registering the property by a recognised surveyor
It is advisable to get all the documents to be checked by a lawyer to ensure they are original and other requisite authorities too.
Apart from the paperwork, it is also essential to check for the connectivity of the house, its proximity to key places such as market, hospitals, schools, transportation etc. Also, one must ensure that the property is not isolated as many instances of robbery are being reported.