You are ready to buy plots in Chennai, but do you know exactly what you need to look for before you actually go ahead and purchase the plot?
This post will give you an idea of what you need to look into before getting the plot of your dreams registered in Chennai!
1.Title Docs and Parent document :
The first and most important point in the checklist before you make up your mind is to check the original parent documents once the advance has been paid. Plots in Chennai typically
classified into 3 categories: plain land sale (where no approvals are required, this would include acreage or large pieces of land bought by buyers), this would be the first option but a lot of work is still left even after a person purchases land in Chennai.
the second option for buying Plots for sale in Chennai are unapproved or only approved by the local body such as panchayat which is still classified as unapproved and finally plots for sale in Chennai that are approved and have all the required approvals such as DTCP and RERA such as Kris Farms - Tranquility in the bustle.
Out of the above 3 options, the best way to purchase a plot in Chennai is undoubtedly the third option where all the necessary approvals have been given and you as an investor can look to enjoy the property with security and peace of mind.
2. Approvals - Check them once again
When you are checking the parent documents and title documents it is also imperative that you look to check if all the approvals are in order. double-check the approvals on the TNREGA website and insist to the developer that you need to see if the approvals have been uploaded onto the website. At Kris Farms we are both DTCP and RERA approved along with the certificates as well as the links to check if the approvals are confirmed. This is a very important point when you are doing your due diligence when you are ready to buy plots in Chennai
3. Hidden Charges - Get clarification on them
The next important thing is to get clarification on the hidden charges in your invoice when you are ready to buy plots in chennai or land in chennai. Many developers in real estate in chennai prefer to be quite closed about this fact and there is good reason to it as well. You see there are certain red tape charges that no one wants to talk about and you need to understand that any good developer will make sure you understand it with clarification. At Kris Farms we are quite open about it when we say that we don't have hidden charges, we quite clearly mention to the clients on what exactly are the charges they will get when they purchase a plot from us. It is an important point and we make sure our clients are not over charged on the same, we make sure our charges include everything for the clients benefit.
4. Encumbrance Certificate or EC
An encumbrance certificate is like a date of birth certificate for your land or plot in India. They give the owner the complete history of the dealings of the land from a start date to the present date. When purchasing land in Chennai or India Ec is like the birth certificate of piece of land in India or Chennai you should always have a look at the Encumbrance certificate before buying. It gives the buyer the entire history of the land and if there are any issues with the land then the buyer can look to clarify the same with the seller. Normally retail buyers who take loans for buying plots that are for sale in India do not have to worry as the bank does the same work for them. But
in the checklist when you are looking to buy plots in Chennai or plots in India then the
the general rule of thumb is to make sure the encumbrance certificate is free from all
types of issues such as mortgage etc.
5.Bank loans
Finally, the most important thing is to check if the plot you have chosen to buy
offers bank loans. Plots that are for sale would usually be tied up with a few banks
and this means that the said plots for sale have already been legally approved by the bank lawyers and all the hard work has already been done for you. In a plot such as Kris Farms, the said the property has already been scrutinized by 5 banks and who provide loans to you at the best possible rates. This step will ascertain that the documents for the plot for sale have already been looked over thoroughly by the bank's legal team.
Hope you enjoyed this article and if you did then please do subscribe to our newsletter as we will be publishing a lot of articles related to buying plots in India and Chennai. We are a passionate group of real estate developers who want to be transparent with all our clients. If you are looking to purchase a plot in Chennai then why not take a closer look at Kris Farms; just fill in the contact form from here and relax while our representatives will get in touch with you shortly, we are sure kris farms will be an ideal plot that can be your next big investment inland.