Top 5 Questions To Be Asked Before Buying Land At Raigad
Land is emerging as an important source of earning revenue. There is a huge
demand of land everywhere for multiple real-estate projects. Many individuals
are now searching lands to purchase at a cheap rate and resale it to the real
estate giants at a higher market price. It not only guarantees surplus profits but
also establishes position as a reliable dealer of land. Now there are certain
important issues that need to be addressed before any person seek to enter into
the land dealing business with the real estate giants. It is important to settle these
issues first to avoid any legal complication after the successful purchase of the
land. We shall now mention these issues in the below:
Pending taxes and duties associated with the land: Any individual planning to
purchase land for re-saling it to any real-estate company first need to satisfy this
first problem. He should ask for the documents of tax payment and other duty
receipts from the landowners. He must verify the contents of these documents
through cross checking it with the documents available in the office of the local
administration. If there is any tax or duty is pending then it is wise to avoid
purchasing such land. Otherwise the new owners will have to bear the burden of
paying such pending tax and duties.
Fixed boundary of the land: It is important to know the exact land boundary to
avoid allegation of forceful encroachment of other’s land. However, many
landowners are reluctant to provide the exact boundary of the land for the fear of
losing the clients. So the buyer must check the extent of land boundary through
browsing on the documents of the local administration. If there is a dispute
regarding the land border then it is appropriate to avoid purchasing such land.
Besides, if the land boundary does not match the required surface area for real-
estate projects then it is useless to purchase such lands.
Ownership verification: It is important to ascertain the legal ownership of a plot
of land that any individual is willing to purchase. It not only involves the actual
identity of the owner but also of the selling right or property transferring right of
such person. This can only be ascertained through browsing documents like sale
deed, mother deed and gift deed. Owner may avoid hand over such information
for the fear of losing the clients. If it is not verified then it can cause trouble for
the future owner of the land.
Accessibility: It is preferable to purchase land from an accessible area to easily
attract investment for real-estate projects. Builders usually prefer to construct
buildings and apartments in accessible regions to attract buyers and shareholders.
So while purchasing any land the accessibility of the area must be ascertained in
terms of communication and transportation. Without proper accessibility it is
useless for the builders to invest huge sums of money in a real-estate project. So
it is ideal to avoid such lands with poor accessibility.
Joint properties attached with land: Sometimes in a given plot of land is often
composed of a common well, temple and other shared properties. Therefore it is
first to ascertain the presence of any common property in the land. However,
many owners desist from revealing such fact to fear the loss of clients. In this
respect it is better to check the relevant documents of the local administration. If
it is so found on verification then it is better to avoid buying such land.