Things to Keep in Mind before Buying a Plot of Land

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Things to Keep in Mind before Buying a Plot of
Land
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Buying a Land Parcel

• In India, property investments have always been
  considered the safest form of investment and even
  today whenever people can spare some money, they
  invest it in buying property. While it is easier
  to buy apartments and commercial properties,
  buying land is a little more complicated as there
  are way too many things that need to be taken
  into consideration here.
• The following slides outline all the things that
  need to be kept in mind while buying land.

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The Location

• The location of the property determines its value
  to a great extent. And this is true for all kinds
  of properties, be it land holdings or
  ready-to-move-in apartments. A property in a good
  location like land in Tambaram near the
  Chennai-Trichy national highway or one in Manali
  near a commercial centre, a good location always
  adds value to the property.

4
The Buildable Area

• A fact lesser known to many, not all land
  holdings have a 100 floor area ratio (FAR).
  While some may have a FAR value of 90, there are
  many with FAR value as low as 15.

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• So, before buying a land holding, one needs to
  ensure that it has a good FAR ratio so the better
  part of the property can be used for
  construction. Not checking this aspect can lead
  to major losses on the part of the investor and
  as such it is always good to buy land from
  reputed real estate developers that can be
  trusted.

6
The Necessary Approvals and Permissions

• Before buying a land parcel, it is extremely
  important to know whether it has the necessary
  approvals from the municipal bodies for the
  construction of the residential or commercial
  property. For instance, if you are buying land in
  Tambaram in Chennai, you would first need to
  check whether the area is under the jurisdiction
  of CMDA or DTCP as that would greatly determine
  the kinds of approvals and permissions that one
  can expect.