Oct 21, 2007 10:24 PM
13316 Views
Investment in Real Estate is a really good thing especially in a place like Bangalore, but you need to be lucky for it to fetch you good profits. I have with my friends bought a piece of land in Bangalore and it was our FIRST investment. There are a LOTS of things to look for while buying a property, below are points you should keep in mind, Me and my friends have learned them HARD way.
Survey the area and talk to LOCAL people, to ask about the land prices.
Go through ALL the papers, especially a) Mother Deed - it gives you the details of the holdings of the land for the past 30 years, available at the registrars office. b) Sale Deed c) Conversion Documents - this is required in a place like Bangalore, where land in the central part is not available, and most of the land outside will be agriculture land, so it needs to be converted. d) NOC(No Objection Certificate) - if the land is Converted, them make sure you have a NOC from BDA or the required authority.
Layout Plan - Although not required, but if you have a APPROVED layout plan then you will be able to sell your land without any problems.
buying and selling land is not a piece of cake, there are LOTS of charges involved and also the income is TAXABLE. Be very very careful while investing your hard earned money in it.
