Investing in a residential plot can prove to be a lucrative proposition, provided you have evaluated the location of the plot and speculated the returns on your investment. In Economics and is known as the ‘fountainhead of wealth’. Hence, investing in property usually produces good returns under mitigating circumstances. Nevertheless, when you invest in a residential plot you must take into consideration numerous factors to ensure that the investment is a lucrative one.
Important Points to Consider while Investing in a Residential Plot
If you are looking for a plot for sale in Ghaziabad then consider purchasing one that is being developed by a reputed builder. An added advantage would be if the plot is located within an integrated or a hi-tech township. This will ascertain that the residential plot is strategically located in close proximity to shops, stores, retail centers, schools, colleges and other such places. Ease of travel should always be prioritized while investing in a residential property. The valuation of a property, which is conveniently located in close proximity to the highway, arterial roads or within a hi-tech city will appreciate at a faster rate in comparison to a residential property that is not as easily accessible. Some of the other points that you must take into consideration while purchasing a residential plot are as follows:
- Approvals: When you purchase a residential plot you must get all the property papers vetted by a renowned civil attorney. The real estate development firm from which you are purchasing the plot should furnish you with all documents, conclusively proving the company’s ownership of the plot and that it has been approved by the city’s corporation.
- Area: The area of the residential plot should be as per your requirements. In other words, you must discuss with the realtor the exact built up area, topography of the region and the quality of the soil.
Thus, while purchasing a residential plot you must evaluate all aspects of the property, like location, quality of the soil and ensure that the legal documents are in order. Once you are satisfied with all features of the plot, you should proceed with the transaction.