You have already googled it several times. You have been checking all social platforms. You have been asking around among your friends and family, to find out if they know of any good projects for villa plots. You have taken the tours of your preferred area. And here you are, with a short or maybe a slightly long list of villa plot projects that suit your liking and budget.
Now the next step –
How do you make the choice? You are perhaps wondering if you are considering all the important factors. Or is there anything that you are missing out on?
Allow us to offer a helping hand, just to make things slightly easier. We have jotted down a few factors that you should consider while buying a villa plot.
Location
Villa plots are usually purchased as a future investment, as you also need to consider the time for the construction of the house. This allows you to be a little more flexible in terms of location, as compared to those buying ready-to-use property for immediate residence.
Despite this flexibility, there are certain aspects that you should definitely consider. These aspects affect the ease of your life in the future and also ensure that you get good returns on your investment. Do consider the factors like connectivity, proximity to business hubs, the steady growth of real estate in the area, and a neighborhood that is suitable for the lifestyle of your preference.
Specifications of the property
Do make it a point to visit the plot in person. The actual site visit offers a lot more clarity than you can ever get through online searches. If it is absolutely impossible to do so, check if someone close to you can visit the property on your behalf and give you the lowdown.
You need to check that the project and your villa plot are easily accessible. Verify the amenities and specifications provided by the developer. Is the plot measurement accurate? You may want to seek help from a recognized surveyor for the measurements. What is the FSI that you would get? What are the amenities in the project? Is the pricing right as compared to the current market? What are the additional costs like GST, registration fee, stamp duty, and others? What are the available financing options?
Many of these factors become less of a hassle if you check the credibility of the developer. Well-established and trusted brands ensure that they provide you with accurate information and go the extra mile to deliver on their promises.
Documentation
Does your preferred villa plots project have all the necessary documents in place? We have already compiled a list of the documents that you need to consider. Check it here.
Once you have chosen a villa plot after taking into account all the above factors, it’s time to make a purchase. You would require a few other documents to complete the purchase process.
Sale Agreement & Sale Deed
A sale agreement is a document that provides written evidence that the seller and the buyer have agreed to transfer the ownership of the said property, based on the fulfillment of certain conditions. By its very nature, a sale agreement is a promise that the transaction will happen in the future. This is a mandatory document if you are applying for a bank loan.
A sale deed, sometimes also referred to as a conveyance deed, is a document that proves that the seller has transferred the ownership rights to the buyer. The buyer is required to pay any applicable taxes, stamp duty, and registration fee at the time of execution of the sale deed.
After you buy your dream plot
Once you have completed the purchase process and own your dream plot, the next phase begins. You can move on to building your house. Check this blog to find out what you should do to build the house of your dreams.