Critical Points To Keep In Mind While Looking For A Residential Plot For Sale

Investment in property is an extremely capital-intensive decision and any mistake can cause you huge trouble in future. When it comes to making investments in the real estate sector, Plot is the most preferred form of property. It has been a popular fact that residential plots give healthy returns on investment in comparison to other property types.

Factors that make investment in residential plots a better choice-

Low Investment: Buying a residential plot is a budget-friendly option than a pre-constructed flat or independent floor.

Customisation: It gives you the freedom to build your home structure as per your need, budget, and preference. In the case of pre-designed structures, there is a limited scope of customisation.

Appreciation in value: Due to the limited availability of land, its value increases with time.

Additional return: A residential plot owner has a choice of building multiple floors which can be rented or sold in future.

There are a few categories of residential plots that are perfect for investment-

Park facing plots

4 side open plots

Corner plots

Plots on the wide road

Ahmednagar is an important city in Maharashtra which has become a major commercial hub for various industries. It also has good educational opportunities with the presence of several colleges, schools, and universities. The city also offers great connectivity with major other cities including Pune, Mumbai, Nasik, and Solapur. Ahmednagar also has numerous manufacturing units which has created huge employment opportunities. All these things collectively serve as a lucrative option for investing in a residential plot for sale in Ahmednagar.

There are different residential plots in Ahmednagar at different locations. Firstly you need to decide on your budget because usually, rates vary a lot depending on the location of the plot. A residential plot for sale in Ahmednagar with easy access to schools, hospitals, markets, and railway stations is more costly.

Apart from access to these places, there are some other factors that need to be considered while buying a plot. Some of these crucial factors are mentioned below in detail-

Location of the plot

It is important to verify the location of the residential plot by considering its proximity to the major areas of the city.

Don’t get captivated by low-cost or less-priced land deals in faraway locations with few chances of development.

Ensure the plot you choose should have access to all the major areas as it will influence your future returns.

Connectivity and transport

Transport plays an important role in the development of any area and influences the rates of the property. Always ensures that the residential plot is connected to other major areas of Ahmednagar through local bus services and rickshaws.

Approvals and licenses

For most people, legal and paperwork seems to be a nightmare but you must make sure to verify all documents. You can hire a lawyer to check and verify all the necessary approvals and documents.

Title Deed

If you want an undisputed legal possession towards a residential plot then verify if there are any unclear deeds.

If the transfer of the land is questionable then it should be well addressed to avoid any future problems.

Other documents

Always ask for the previous tax receipts to ensure there are no pending dues on the plot.

Verify the encumbrance and release certificate to ensure that there is pending litigation or dues.

Local approvals

A buyer must ensure that the residential plot has been approved by the municipal body of the city.

You must check for all the necessary approvals issued by the authority before buying the plot.

Check the Area of the Plot

Don’t rely on the image of the brochure or online pictures as it might not be in reality.

It is always a good practice to physically visit the plot and verify everything before making the purchase.

Checking and verifying the area or dimension of the plot is also important if you want to build your dream home.

The area of the plot determines the overall layout and cost of construction of your home.

Check the Value of the Plot

Even if the deal looks lucrative, do not make any decision in a rush and get a residential plot hurriedly.

It is always recommended to do a little research either yourself or with the help of experts. This allows you to evaluate the actual value of the plot, developments, and appreciation in the future.

Check the potential of the plot

In addition to the location of the plot and its growth prospects, it’s important to check its potential in the future. For instance, if you are planning to construct a villa on the plot then the land must be suitable for the construction. Also, check for amenities such as water, electricity supply, proper sewage, and other basic amenities.

Negotiate for the best deal

If you want to get the best deal while buying a property then prepare yourself for the best negotiation. Here are some tips that can be applied to the negotiation process-

Understand the current market trends

Do a basic research

Find the reason for the sale of land

Be confident and realistic

Take the help of the broker

Check the Registration for your Plot

After choosing the residential plot, it is best practice to register it with the authority involved. Once a property is registered, it signifies that you become the legal owner of the land. Therefore, always check whether the registration of the plot is lawful or not to own the absolute rights of the property.

So, if you are looking to invest your funds safely, it’s more important to consider these things throughout the process.

Final Thoughts

Therefore, proper evaluation and future growth consideration are prerequisites for buying a plot. Especially, people who are buying their first residential plot should not ignore any of these factors. Currently, there are various options for residential plots for sale in Ahmednagar. Hence, individuals with varying preferences and budgets can easily find their ideal property at affordable rates.