{"id":191,"date":"2021-04-16T05:30:55","date_gmt":"2021-04-16T05:30:55","guid":{"rendered":"https:\/\/sterlingheights.in\/blog\/?p=191"},"modified":"2021-04-16T05:30:57","modified_gmt":"2021-04-16T05:30:57","slug":"challenges-and-how-to-overcome-them-while-buying-a-plot","status":"publish","type":"post","link":"https:\/\/sterlingheights.in\/blog\/challenges-and-how-to-overcome-them-while-buying-a-plot\/","title":{"rendered":"Challenges and how to overcome them while buying a plot"},"content":{"rendered":"\n<figure class=\"wp-block-gallery columns-1 is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/sterlingheights.in\/blog\/wp-content\/uploads\/2021\/04\/challenges-and-how-to-overcome-them-while-buying-a-plot-1024x576.png\" alt=\"\" data-id=\"192\" data-full-url=\"https:\/\/sterlingheights.in\/blog\/wp-content\/uploads\/2021\/04\/challenges-and-how-to-overcome-them-while-buying-a-plot.png\" data-link=\"https:\/\/sterlingheights.in\/blog\/?attachment_id=192\" class=\"wp-image-192\" srcset=\"https:\/\/sterlingheights.in\/blog\/wp-content\/uploads\/2021\/04\/challenges-and-how-to-overcome-them-while-buying-a-plot-1024x576.png 1024w, https:\/\/sterlingheights.in\/blog\/wp-content\/uploads\/2021\/04\/challenges-and-how-to-overcome-them-while-buying-a-plot-300x169.png 300w, https:\/\/sterlingheights.in\/blog\/wp-content\/uploads\/2021\/04\/challenges-and-how-to-overcome-them-while-buying-a-plot-768x432.png 768w, https:\/\/sterlingheights.in\/blog\/wp-content\/uploads\/2021\/04\/challenges-and-how-to-overcome-them-while-buying-a-plot-1536x864.png 1536w, https:\/\/sterlingheights.in\/blog\/wp-content\/uploads\/2021\/04\/challenges-and-how-to-overcome-them-while-buying-a-plot-2048x1153.png 2048w, https:\/\/sterlingheights.in\/blog\/wp-content\/uploads\/2021\/04\/challenges-and-how-to-overcome-them-while-buying-a-plot-624x351.png 624w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure><\/li><\/ul><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Why buy plots?<\/strong><\/h2>\n\n\n\n<p>Buying a plot of land in a city is one of the best\ninvestment propositions in a country like India. It has become more pronounced\nfrom the 1980s and thereafter because real estate is now being viewed as an\nasset as much as gold is. Mutual funds and equity funds are the other\ninvestment options. While mutual funds have lock-in periods, equity markets are\nvery volatile and one must not hazard investing in them unless they follow\ncompany evaluations and movements of the stock market that depend on government\npolicies on various industries,&nbsp; economic factors like inflation, rains,\npandemic,\netc.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p>The demand for <strong>real estate in Hyderabad<\/strong> has reportedly surged following the occurrence of the Coronavirus. This phenomenon has been witnessed for independent homes, open plots, and villas across the city. Although on paper <strong>buying a plo<\/strong>t of land looks straightforward and simple, there are many complications involved when you get down to brass tacks. There are some simple but golden rules you need to follow when you get down to the actual process of plot buying.\u00a0\u00a0\u00a0\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Documentations needed for their purchase<\/strong><\/h2>\n\n\n\n<p>You have to adhere to certain regulations before you <strong>buy a plot of land in Hyderabad<\/strong> or any\nother town and city in India. Before you purchase a parcel of land ensure that\nyou are transacting with the appropriate person. In other words, the person\nselling you the land should have a property deed in his or her name. The deed,\na legal document, states that the rights of a plot are changing hands from its\ngenuine owner to a buyer who is entitled to buy land in the area within India\nwhere the transaction is taking place. The deed also contains a proper and\ncomprehensive explanation of the property.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p>Deeds are mandatory when buying lands of any type such as\nagricultural, commercial, or farming. It is recommended that when people\nundertake such transactions, they take the assistance of a legal expert who can\nperform due diligence of the property.<\/p>\n\n\n\n<p>An Encumbrance Certificate (EC), an assurance document, that the property being bought or sold does not have any monetary or illegal liabilities like debt or an unsettled loan. In Telangana state, computerized ECs are issued. It is suggested checking the EC for a minimum of 30 years.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Ensuring land purpose<\/strong><\/h2>\n\n\n\n<p>Buyers must ensure that they are buying land for the purpose\nthey intend to use it for. Agricultural lands close to cities are sometimes\npalmed off by devious sellers to buyers, who are assured by the former that\nthey can build residential properties on them. For more info, check the website\nof the Registration &amp; Stamps Department, Government of Telangana.<\/p>\n\n\n\n<p>Meanwhile, some people buy farmhouses that are far away from the cities they are living in. These are places of retreat for people who want to get away from the hustle and bustle of cities. It is better to mention that such places would be used only temporarily or to treat guests but not as places of accommodation.\u00a0\u00a0\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>When are tax benefits available?<\/strong><\/h2>\n\n\n\n<p>People can borrow loans for buying residential real estate properties in areas earmarked by the state governments. Certain banks and financial institutions issue home loans in the age group 18-65 and some in 21-65 as per their different criteria, the maximum tenure of repayment varies from 20 to 30 years. It is suggested that aspiring buyers of plots keep their credit profile as strong as possible to secure a loan with reasonable interest rates.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Most plots now in the suburbs<\/strong><\/h2>\n\n\n\n<p>Individuals who are buying plots offered by developers of\nindependent houses in gated communities in cities such as Bengaluru, Chennai,\nand Hyderabad should be prepared to move to suburban neighborhoods. It is not\nsuch a bad idea considering that these gated communities are like mini townships\nthat offer all basic facilities for a healthy lifestyle. What\u2019s more, most of\nthem are built very close to the ring roads that now most metropolitan cities\nhave.<\/p>\n\n\n\n<p>Moreover, with work from home (WFH) being offered to many\nemployees who work in industries in sunrise sectors including information\ntechnology, electronics, pharmaceuticals production, and solar panels, among\nothers, it should not be a cause of worry for them.<\/p>\n\n\n\n<p>Most people, these days, are paying bills for their\nhousehold amenities or booking air\/rail tickets, managing bank transactions\nfrom the comfort of their homes. These factors will also help a long way in\ndecongesting the city\u2019s central business districts from becoming overcrowded.\nIt is, in fact,&nbsp;a very healthy idea as it would decongest our cities and\ndecrease their pollution levels.<\/p>\n\n\n\n<p>If you are also looking to <strong>buy a plot<\/strong> in a developed area that is not too far away from Hyderabad\u2019s ring roads and airport, do check the website of <strong><a href=\"https:\/\/sterlingheights.in\/\">Sterling Heights<\/a><\/strong>. They have a project by the name \u2018<strong><a href=\"https:\/\/sterlingheights.in\/aster-meadows-open-plots-for-sale-in-hyderabad\">Aster Meadows<\/a>\u2019<\/strong> which is located in Bhanur, very close to Patancheru, one of the major industrial hubs of Hyderabad.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Why buy plots? Buying a plot of land in a city is one of the best investment propositions in a country like India. It has become more pronounced from the&#8230; <a href=\"https:\/\/sterlingheights.in\/blog\/challenges-and-how-to-overcome-them-while-buying-a-plot\/\">Read more &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":193,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-191","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment"],"_links":{"self":[{"href":"https:\/\/sterlingheights.in\/blog\/wp-json\/wp\/v2\/posts\/191","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sterlingheights.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sterlingheights.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sterlingheights.in\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sterlingheights.in\/blog\/wp-json\/wp\/v2\/comments?post=191"}],"version-history":[{"count":1,"href":"https:\/\/sterlingheights.in\/blog\/wp-json\/wp\/v2\/posts\/191\/revisions"}],"predecessor-version":[{"id":194,"href":"https:\/\/sterlingheights.in\/blog\/wp-json\/wp\/v2\/posts\/191\/revisions\/194"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sterlingheights.in\/blog\/wp-json\/wp\/v2\/media\/193"}],"wp:attachment":[{"href":"https:\/\/sterlingheights.in\/blog\/wp-json\/wp\/v2\/media?parent=191"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sterlingheights.in\/blog\/wp-json\/wp\/v2\/categories?post=191"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sterlingheights.in\/blog\/wp-json\/wp\/v2\/tags?post=191"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}