The plots of land are widely in demand in Bangalore owing to the changing mindset of the end users. The demand of land is seen more in the professionals of Bangalore from the IT/ITeS and other manufacturing or service industries with a view and desire to stay in a spacious home and it’s not because of other reasons like non availability of apartments.
In a plot the person has the choice of building his or her own home according to one’s own choice and can stay there luxuriously without any maintenance fees or any sort of encumbrance. The trend of demand for lands have increased owing to the increased job markets and enhanced physical, social and civic infrastructure. Owing to this diverse demand scenario the developers are also developing acres of land in plenty with all amenities like roads, club houses, swimming pools and others. The market watchers opine that with the city being over crowded the outskirts of the city are also getting increased attention from people desiring to dwell in such places and developers are also seen to develop such land and sell in plots.
Seeing such trends we thought it imperative to write an article enumerating few guidelines of buying a plot of land and make you aware about the market happenings.
Where does the opportunity lie?
The most ample supply of land in Bangalore is in Devanahalli and Sarjapur Road as per the data available. Electronic City and Mysore road also gives you land plots in plenty. The prices at Sarjapur Road start at Rs. 8 lakhs and go over a crore of Rupees. The sizes vary from 200 to 1804 sq. yards.
Devenahalli has the maximum supply of land plots available in a low budget of about Rs. 4 lakhs with an area of 200 sq. yards and goes over ten crores of rupees for land sizes of ten acres and above.
The industry experts suggest buying land in gated communities as it comes with the added benefits of water supply, common amenities and facilities, power supply, swimming pools, children’s parks and lot more.
The real estate veterans and mega players have noted that their clients have gained on their capital investment in land in areas near Outer Ring Road with the IT and ITeS hubs setting up and with enhanced infrastructural facilities being built at a faster rate. The experts think that land requires less investment as compared to buying an apartment or a villa. On the contrary if one chooses to buy a land on the outskirts of the city, the cost will be even lesser with the benefit and advantage of the escalation of the prices of the plot according to the development and preference of the area. If calculated in this way, the return on investment on land is much more at times with less of hassles, opine experts.
What steps are necessary to buy a land not located in a gated community?
One should check the original land deed as the photocopy is not enough for reasons like the land can be mortgaged for loan by the deposition of the original deed. Insist on the original land deed. Get it checked by a lawyer and ensure that the land owner is entitled to sell the land.
The Encumbrance Certificate should be checked by obtaining it from the sub-registrar’s office. One can understand the ownership details starting from the first purchase of the land and would provide information on pending legal dues on the land as well.
Another important check is the approval of the land for construction for residential purposes. Many a times, cases have been reported where land for commercial uses has been sold for residential purposes by way of fraud.
One should ensure that the transfer of property and title happens through the transaction and not any other modes like power of attorney for the reason of low registration charges or stamp duty.
If you are looking for Land Plots in Bangalore / Bengaluru then visit TGS Layouts and you will find many Plots / Lands in Bangalore & its surrounding areas. Visit on Weekends i.e Saturday & Sunday and get extra discounts.
TGS Layouts 