A plot or land has always been a priority among home buyers and property investors in India. However, you need to be careful while buying or investing in a property. It will ensure a better return on investment and prevent any loss-making deal. Read on to know more.

A plot is seen as a highly appreciating asset that gives buyers and investors a sense of ownership and financial security. And it is a major reason why land or plot is an important part of the investment portfolio for many investors in India. However, buying a plot or vacant land involves putting in a significant amount of money.

So, a mistake can lead to a huge financial loss for buyers. A strategic investment in plots can provide investors with higher returns and profits in the long term. Consider the following things while investing in plots for sale in Manali, Chennai, or any other city in India.

Check Floor Space Index (FSI)

FSI defines the dimension of the total area available to construct a building. Whether buying a plot to build a home later or investing in this specific property, make sure the FSI of the plot is perfect for a building. Remember, if your FSI is less in the project, you are just spending a huge amount of money on keeping a large portion of the plot vacant. So, choose your plot wisely.

Consider the Location 

Whether you are looking for a plot for building your dream house or for investment purposes, locality is the most important consideration point. Remember, the appreciation value of the property depends on its area and locality. So, it is wise to purchase a plot in the location with a scope for growth and expansion in the future. Also, you must check whether the locality is close to basic facilities, including major roads, public transportation, schools, market, and hospitals.

Check Legal Documents

Before you finalise a property deal, check and ensure that all the relevant documents and licenses are in the hand of the seller. Also, if you are buying a plot from a registered real estate company, you need to check whether this plot is RERA approved or not. The Real Estate (Regulation and Development) Act is intended to ensure transparency and consistency in the real estate sector. Make sure you get a plot from a company following all the laws.

Check Land Value

Another important point when buying land is to check its price and ensure that the cost matches the actual worth of the property. The cost of the land varies depending on several factors like location, amenities, etc. It is wise to research the market and compare the prices of the land offered by leading real estate builders.

You should avoid paying extra for a plot with less worth. If you find it difficult to research the market and decide on the right property for you, it is recommended to take the help of real estate experts.

Once all the initial checks are done, you can think about negotiating the price with the seller. With some research and above-mentioned checklist, you can find a perfect plot for sale in Kundrathur, Manali, Chennai, or any other city in India.