● All the specifications must be seen properly to identify the right type of property to buy.
● Everybody prefers healthy-wealthy investments for tomorrow’s benefits.
● And all of us want the investment to be safe for tomorrow’s generation with maximum o defects.
1.LURING LESS PRICED ADVERTISEMENTS
● Advertisements of less priced plots, large plot areas for low value are luring innocent people.
● Such low-cost deals look very attractive.
● But the authenticity is very very limited.
● The innocent people and the people in hurry without checking properly all the details get lured by the advertisements and fall prey to them.
● At last, they are losing their hard-earned money.
2.WRONG INVESTMENT IN AGRICULTURAL LAND
● It is illegal to use agricultural land without a proper conversion certificate from the concerned authorities.
● Sometimes the buyers get into this type of purchase without their knowledge.
● Getting the conversion certificate is a tough job with a lot of formalities.
● It is time-consuming and a tedious job.
3.MISSING THE NOC FROM THE BANK
● Sometimes the buyers forget the importance to collect NOC.
● The bank will retain ownership documents if the property purchase carries any existing loan.
● They will release the owner doc after the payment is over.
● We have to ask the owner to get a “ No Due Certificate” issued by the bank if the loan is closed already.
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4.THE ADDITIONAL EXPENSE FOR LAND TAX
● Verify whether vacant land tax for the land has been paid without dues.
● Otherwise we face the extra burden of paying a hefty amount of vacant land tax for years together.
5.NO PROPER EB CONNECTIONS
● Proper EB line facilities may not be available at some places.
● We have to approach the EB office with a requisition for the proper connection.
● It is an extra expenditure and time-consuming.
6.NO PROPER DRAINAGE CONNECTIONS
● At some places, there won’t be proper drainage connections.
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● In those places, we have to spend an extra amount of Rs.1.5 lakes for the construction of the septic tank.
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7.PROBLEM OF JOINT AGREEMENT
● The NOC from the partners is a must in the case of Joint Agreement
● Sometimes it is not provided at the time of registration.
8.CHANCES OF DOCUMENTS WITHOUT PROPER APPROVALS
● The proper approvals with approved layout must be checked at the time of property purpose.
● Otherwise, we need to spend an additional amount for getting the proper approvals.
IMPROPER PLOT CONNECTINTG ROAD
● There must be proper road access to the property. 30 feet and 40 feet roads are highly considered for easy commutation.
UNNOTICED NATURAL DEFECTS
● The nearby lakes and ponds have an effect on the strength of the soil. Because of the poor strength of the soil, deep pillars pile foundation must be done with an extra cost of nearly 2 lakhs to get a strong foundation.
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● In the case of plots at low-lying areas, there is a need to raise the land height above the road level.
● For this purpose, proper quantities of sand are to be filled. It leads to extra expenditure.
CONCLUSION
● The property purchases are long-term commitments.
● Proper care has to be taken to minimize the risks and defects.
● Namma family builder and developer pvt ltd., is the best builder in Chennai in recommending good properties with zero defects.
● Kindly visit our website for further information.