For many families, buying a piece of land is perhaps the most important and biggest financial decision. Be it the start of a search or some two options are in your comparison, careful assessment can keep costly mistakes at bay. For example, if you are in search of land for sale in Chengalpet, then using this checklist will allow you to make an informed choice.
Approvals are more important than other things. Verify if DTCP or CMDA has approved each layout and whether it’s registered under RERA if required. An unapproved plot can lead to serious issues with approval for construction, getting loans from banks, and selling it. In case the two plots differ with respect to the approvals, the choice is made in favor of the approved one.
Ask for sales deed, patta, chitta, encumbrance certificate (EC) for at least 30 years and parent documents. It is very important to make sure the seller has clear, transferable title. A lawyer should look at these documents; the cost will be negligible compared to the risk.
Where you live will impact not only daily convenience but also long-term value. Consider all of the following for each plot:
Close to main roads, highways and train stations
Access to schools, hospitals and markets
How close is it to work centers?
Whether there are any planned projects such as road widening or metro construction
Every area has its advantages. For example, plots in Karanodai are most likely to attract buyers who want to live close to the growth corridor in the west. That's why see how fast and convenient it is to get to work and the main roads from each location.
Visit both sites in person. Look at road width, internal roads, drainage, street lights, and compound walls. Check the plot shape and facing, since regular, well-proportioned plots are easier to build on and resell. Make sure the plot is not in a low-lying area that floods during the monsoon.
It is important to remember not to just compare the total cost. You must compare the price being paid for each square foot before adding the costs of registration, stamp duty, development charges, as well as maintenance fees and any corpus fees.
Check whether there is water and electricity (including a 3-phase line if necessary) and find out if there is any sewage system in place. Lack of utilities may bring high expenses in the future.
Are you planning to construct a house soon or make an investment? If it’s the former, the plots for construction should offer convenience and facilities in plenty, while investment plots should keep in mind the growth potential and ease of resale. For instance, many investors are interested in plots in Oragadam due to the proximity to industrial belts and job opportunities; however, one could choose a plot based on personal needs and budget.
Create a comparison chart with the two plots and rate them from 1 to 5 on the following criteria: degree of approval, paperwork, place and premises, cost, services, and future potential. The winner is clear as soon as you count the points.
The prime plot of land is not necessarily the cheapest or closest to the city, but the one with all the necessary documentation and approvals, in a location that is convenient for you and at a reasonable price. Don’t make this decision in a hurry. Go see both properties, ask all the important questions, and get a lawyer to look at it before you give any money.
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