Mark Twain once famously said- “Buy Land they don't make it anymore”, and his words ring true even today, with property values rising to new highs every year. Land is a tangible asset that retains value and has a limited supply, and buying land for sale in Maraimalai Nagar, Madhavaram, Avadi or some other region nearby would be a good idea for any investor.
Land is a finite resource, but its demand keeps increasing with time, especially in metros like Mumbai, Bangalore, Hyderabad and Chennai. Hence, by opting to buy a plot now, you can sell it off at a much higher price shortly. Owning a plot of land additionally provides a sense of security and stability as it is a physical asset that can be utilized or passed down to future generations.
The advantages associated with plot investments are many. However, this does not mean that you should buy just any plot you come across. It is prudent to take the following factors into account when trying to find the right plot:
- The arrangements for water and other basic amenities: Before buying a property, you need to be aware of the water supply and other basic amenities. It is vital to check if the water supply is going to be provided by the municipality or the gram panchayat. You also need to raise questions about the electricity, the arrangement of a private electricity meter, and so on, in order to prevent any chances of conflict down the land.
- The per annum maintenance after buying a plot: An annual maintenance fee has to be paid for maintaining basic amenities like security, water, gardens and more. This maintenance fee is ideally paid on an annual basis, and is proportional to the plot size.
- The NA order: All plots in India are by default “Agricultural land” until it is defined by the government for some other purpose. Hence, if you want to use a plot for something else other than agricultural purposes, it is important to check if it has been converted into a non-agricultural land (NA) or not.
- The FSI Order: FSI or Floor Space Index implies how much construction can be done on the land, and would also depend upon the location of the plot.
Checking the factors underlined above would be important, no matter whether you are buying plots for sale in Madhavaram, Thirumazhisai, Porur, Tambaram, or some other area. Plots are a huge investment, and hence proper research has to be done before making the purchase.
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