ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Things to consider before buying a plot of land

Updated on February 15, 2013

Owning a sweet home is everyone’s dream but not all are lucky enough to get their dream home. Though, few people get the opportunity, not only to have their own house, but also to build it as per their choice. It is kind of a dream come true when you have a plot of land and you can build your house as per your instructions and desires. Obviously, it sounds great but owning a plot of land is not as easy as it may sound. It requires tedious paper work, and of course, lot of money to buy a decent plot in a good locality.

Is investing in land a good option?

Many people prefer to buy a plot and build a house of their choice, as it can give much better returns than an apartment flat. If you can get a plot of land in an upcoming residential area, its value may increase many times; it may even go up to 5 or 10 times. This is the reason people prefer to buy a piece of land rather than a built property.

Things to consider before buying land

If you are planning to buy a plot of land either for investment purpose or to build a house, be careful while doing paperwork as purchasing a plot can be problematic. You must need to cross check all documents because it might be possible that the plot on sale may not be approved to be used for residential purpose or it may be involved in any legal dispute. Unfortunately, most people are not aware of the paperwork involved and sellers exploit the buyer’s ignorance. It is always advisable to consult a lawyer to verify all the documents before you purchase a plot.

Documents to check before buying a plot

There are various documents and certificates that need to be verified before purchasing a plot of land. One also must find out if the land is not agricultural as a non-farmer can not buy such land without permission from the district collector. Find out the below listed documents that must be verified before buying a plot of land.

  • 7/12 Document: This document contains the most basic information including name of the owner, land area and other such information (title deed). This document should be in conjunction with 6/12 document which states how the land has changed hands.
  • Encumbrance Certificate: This certificate ensures that the land is not involved in any legal dispute. You can ask for an encumbrance certificate that goes back till 30 years to be 100% sure of any past legal disputes.
  • Release Certificate: The land may have been pledged to take a loan. So, you must ask for release certificate from the bank to ensure that no amount is due. If land is owned by more than one person, ask for a release certificate from each of the person involved.
  • Tax Receipt and Bills: You must check with the concerned municipality to verify all the taxes and bills have been paid till date and inspect the latest tax paid receipts.

Apart from the above documents, there are few more things that you need to check before signing the deal. You should get the land measured by a recognized surveyor and check for the accuracy. You must also check if the land has been reserved for a particular project or the land may have been acquired for some project by state or central government.

All the above checks are required before buying a land. When you are satisfied and all set to buy the plot, pay the stamp duty and get the land registered. The whole procedure of buying the land will be complete only if your name is added in the village office records. Due to all these paperwork involved for buying a plot of land, most people prefer to purchase a built property. To buy plots in townships, you have an easier option as developers have started selling plots in suburbs of towns and other remote areas at cheap and affordable rates. Plots in townships are generally much safer and do not require such tedious paper work.

So, think twice before you buy a plot of land for the sake of high returns and eventually fall in someone’s trap.

Invest Safely!

What do you think, is it safe to buy a plot of land?

See results

Comments

    0 of 8192 characters used
    Post Comment

    No comments yet.

    working

    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

    Show Details
    Necessary
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
    Features
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Marketing
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Statistics
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)