Understand the value of plots near Pune

Investing in plots is a much better option than investing in constructed property.

This is true because the land appreciates more than a constructed property which gives you a better return on the money you have invested. However, purchasing a plot is more difficult and complicated than purchasing already constructed apartments.

Consider these points if you are thinking to buy the Residential NA plots near Pune.

The first and foremost thing you need to consider is to check if the property has clear title and ownership also need to check if there are any pending liabilities or outstanding, taxes, mortgage, claims, no pending cases, the status of land etc.

If there is more than one owner make sure that all the owners sign the sale deed or agreement. You should verify the ownership details and liability details of the past few decades. For these things, you can hire the lawyer and get the details verified.

While buying plots even if you have the full amount try to borrow some amount from a bank because banks verify legal title and other legal aspects before sanctioning the loan. Banks take time to verify these details but it is worth waiting for the banks sanction and then proceeds further.

You might come across the land of any diseased person and the names of the legal heir is not updated on the documents then avoid buying such lands because later it can lead to lawsuits.

You should also check the status of the land. If the land is NA status plot, it does not mean it is legally approved for construction. There are few NA plots near Purandar Airport which are not allowed for residential construction they are given for warehouses or commercial purpose. An experienced lawyer can help you find out legally what is allowed to construct in that land.

In Maharashtra state, the land is classified into three types. Agriculture land or green zone, Non-agriculture land, and forest land. In forest land, no construction is allowed.

Agriculture and non-agriculture land have a different set of rules. Most of the time NA lands do not qualify loan from the nationalized or leading private banks sometimes the plots are approved by banks and sold at higher rates.

When you decide to buy the land find out if the seller is willing to register the sale deed in the office of sub-registrar immediately after the sale. If he is not ready for that then there are some issues with the status of the land. Many times the seller asks months to register as they do not have some necessary clearances from the collector’s office. Avoid such plots where the sellers take time to register the plot.

It is very important to check that the plot is not part of a land that is acquired by the government or pending to be acquired by the government for any civil projects.