Checklist for Buying Plots in Chennai
If you are considering purchasing a plot in Chennai, you should carefully consider your options. It would be best to exercise caution when buying the plot because it involves a significant financial investment. When you decide on one of the Chennai properties for sale, you should go through a checklist to ensure that you have made an informed decision. Here we will present you with a checklist for buying plots in Chennai that is as follows:
- Check the property’s ownership, and ensure the Seller is entitled to the land.
- Ensure the property has received approval from the local authorities.
- Verify the land-use zone as per the plot’s master plan.
- Ensure the land use zone is as per the plot’s master plan
- Check for the completion certificate received by the building.
- Obtain CMDA approval for planning and building approval from the local body construction
- Avoid unauthorised or deviated development and remain free of CMDA/Local Body enforcement action.
Ensure to check for the property’s patta and encumbrance certificate.
- Check if the property plan is made following the development control guidelines.
- Don’t hesitate to get in touch with the CMDA counselling counter if you have any clarifications about the purchasing of the plot.
- If the plot is within city limits, see if it has been approved by the CMDA (Chennai Metro Development Authority) and is sanctioned by the local body. A copy of the CMDA-approved layout can be obtained for a small fee. Always consult a lawyer/architect/licensed surveyor to see if a plot is suitable for construction.
Let us explore the pointers to keep in mind and include them in a checklist for buying plots in Chennai:
- Check out the plot’s floor space index– Before you build your home on the land you purchased in Chennai, you should be aware of the FSI. Knowing the FSI will help determine how much space you can use for house construction. If the FSI for the land you’ve purchased is low, you won’t be able to build on a larger portion of the plot and will end up wasting a lot of money on land you won’t construct appropriately.
- Know the history of the land– Certain states would have legal formalities and procedures regarding land ownership. It is vital to check the ground in case of any land disputes or legal troubles. Check to see if the land has any legal issues, such as ownership through family or divorce settlement, and if so, the Seller must provide the Will or other legal documents to support their claims.
- Estimate the plot’s maintenance charges– Before buying a plot in Chennai, you should figure out how much you’ll have to pay for the building’s or plot’s upkeep. So, in addition to confirming the time when you will receive the sales deed, you should inquire about how much you will have to pay for maintaining various facilities such as the garden, security, water, and so on, to know how much you will be paying to keep your investment in Chennai. Check the completion certificate is received for the building.
- Document checklist before buying the plot in Chennai– Consult your legal advisor for the documents you would require while purchasing a plot in Chennai.
- Title deed – you need to obtain a clear title deed from the builder that proves they are the true owners.
- Commencement certificate – A commencement certificate is a document issued by the local municipal authority that allows the developer to start work on the project.
- No Encumbrance certificate – This certification assures that the property is free from mortgage loans or dues.
- No Objection Certificate – applicable NOCs from the Electricity Board, Water Board, Pollution Control Board, Airport Authority, Environment Board, Forest Department, Traffic Control, and Society Building is required for further procedure.
- Construction agreement or occupancy certificate
- Sales deed – After the Construction Agreement has been registered, the Sale Deed is registered alongside the UDS.
- Mother deed refers to the parental document required during resale property ownership—the most recent loan statement from the bank for any outstanding loans on the plot.
- Mutation documents will be required to purchase individual houses and plots. Check if the land conversion order is obtained if it was agricultural land.
- Check the plot’s location – One of the basic factors to be kept in mind while choosing a plot in Chennai would include the location factor and amenities. The plot should be well located, with all the amenities and facilities nearby. Ensure that amenities such as electricity, roads, water, fencing, and security are in good working order.
- Inquire about Power Of Attorney – Often, the land is sold through a person holding a power of attorney. This POA should be carefully examined to ensure that it corresponds to the sold property. Sometimes you must sign certain documents in a short period, and delaying will usually cost you.
Despite our best efforts to make this Checklist for Buying a plot in Chennai as comprehensive as possible, it is only a general guideline. Whether you’re looking to buy a resale or a new construction home, always hire a good property lawyer who will vet the correct property documents for you and your specific situation. Keep the above checklist in mind to avoid pitfalls, and make a smart investment. The checklist will offer valuable insights into the necessary documents and legal formalities to be complied with for the smooth execution of buying a plot in Chennai.
Here are the best places to buy land in Chennai. Read on!
If you want to buy a plot in Chennai, go to G Square. G Square Housing Pvt. Ltd. is South India’s largest real estate developer and Tamil Nadu’s largest. We offer the best residential and commercial plots in prime locations, with attractive returns on investment guaranteed. For more details, visit our website.