How can I Buy plots in Chennai
Buying plots in Chennai becomes more predominant as it is a promising investment zone. Also, it complies a hub of the suburbs and the areas beyond.
The presence of many of the world’s leading IT companies, the presence of plenty of health care centers , Educational Institutions, Entertainment zones and all types of Industries increase the business growth and countries economy.
The Chennai city is one of the fastest growing Metropolitan cities. It inhales all kinds of modern day conveniences and the tremendous job opportunities. Huge increase in the amount of migrant population from other areas is seen in recent years for growth.
In addition, it stands as a supreme strong connectivity to other cities. Finally, the growth rate over the past few years enhances a great deal for many Builders in Chennai
Investment Plan and Site – Size Selection of plots in Chennai
- The investment plans differs from person to person. The return on investment is not the same with all types of investment. But the return on investment is highly appreciable in land.
- The investor invests his/her precious money and expects his current and future needs to be fulfilled. So that the best investment on earth is the investment on earth.
- The financial position, amount of savings and available bank loan facilities decide our site selection.
- The square feet rates will be high for the premium sites.[ areas ]. It is essential to have clarity about the sites to be visited for the selection of the best one according to our budget.
Credibility of Builder and Developer who sell plots in Chennai
- Verify their past and current projects for our queries and references.
- Builders are the best way to build our dream home according to our own taste and style.
- Builder brings out the innovation, sustainability and property to the real estate industry.
- Prefer the Best Builders in Chennai before buying a plot. There will be clear documentation, proper focus and forecast on location, current facilities as well as on upcoming facilities.
- Finally research and approach a reputed & reliable builder in the area and clearly explain your specific needs, location preferences and budget.
- The direct approach with the builder & developer is very important for your property selection and maximum avoid and don’t approach marketing persons separately.
CMDA and DTCP Approval on plots in Chennai
- Check whether they have proper CMDA and DTCP approval.
- Check the documents are legally perfect and have a proper sanction plan.
- Check whether registered with Tamilnadu Real Estate Regulation Authority according to Tamilnadu Real Estate Regulation and Development Act.
- Properly check Registration Survey No, Layout, EC, NOC, Link Documents – Mother documents , Power of Attorney, Bills, Taxes – Whether they paid all the taxes related to land, Sale deed/Mother deed certificate , Correct statement of EMI payments.
- Release an advertisement in a News paper with survey no to avoid the possibility of future problems.
- Check the EC for the last 15 years.
- Properly check the previous capital levy receipts to avoid taxation problems.
- In case of Joint Agreement, no objection certificate is a must from the partner.
Location plays a major role when it comes to buying plots in Chennai
- Constructing a home for personal use – Make sure that it is located in a residential area that supports comfortable living.
- Construction for Commercial purpose – Focus on areas with already established business hubs or in emerging locations that promise future developments.
- Combined purpose of both Residential and Commercial – Focus on areas with corner plots which will satisfy both the purposes.
- Investing with resale plans – Look for places where builders and developers will be interested in. Some places in Chennai are favorite destinations for investors who look forward to making a high profit.
- Importance of Environmental factors – Make sure that the places should not get frequently affected by natural calamities like cyclones and floods and should not be very near to lakes and ponds. Avoid sloppy and unshaped lands.
Size to access before buying plots in Chennai
- The Floor Space Index (FSI) is an important factor before buying plots in Chennai. It actually shows how much % of the total square feet area of the land should be used for the construction purpose. It differs from state to state. The range is. 8FSI – 2FSI.
- Additional 30 % Premium FSI, 40% Premium FSI are possible. If the connecting road to plot is of size from 30 feet to 40 feet, then 30% extra square feet can be used. If the connecting road to plot is of size from 40 feet to 60 feet, then 40% extra square feet can be used.
- Check the actual square feet offered match with the FSI of the plots in Chennai. It is very important that we can use only the FSI value of the plot for construction purposes.
- Check whether satisfy the current and immediate space requirements.
- Check whether it has extra land area to satisfy our future expansion process if any in our future.
- If one wants to invest and resale after sometime , then it should be of minimum 900 square feet. Because the small sizes will not get much attraction and demand , the struggle is high to resale small areas of sizes from 500 – 800 square feet.
- Always avoid unshaped land and avoid wastage of land.
- Visit the site physically and verify the length and breadth of the plot is of correct size by asking the people to do the measurements in our presence. It is very important. As an investor, we have every right to check and verify.
Social Infrastructure around the plot
Superior connectivity and excellent infrastructure are the reason of high value appreciation for the plots in Chennai
- Comfortable approach – The plot you buy should have local and national connectivity to all the areas in around Chennai. If the area is near to the railway station and the Metro railway network then it will enhance the comfortable approach.
- Check whether government have future plans for the areas nearby the plot you are going to buy, so that we can analyze whether is to safe to buy the plot, means advantage or disadvantage to buy plots in the specific location.
- Strategic Location – It enhances mobility and accessibility to educational institutions, offices, IT parks, hospitals, marriage halls, clubs, malls and all kinds of need satisfying shops and bazaars.
- Hub Nature – The hub nature improves our time management and hassle free movement.
- Distance Factor – The distance from the main road and main junction should be favorable and feasible for living.
- Scope of Growth – If the level of upcoming new projects of both State, Central government sectors and Private sectors in the area is highly appreciable and If the area is surrounded by plenty of IT parks and Industrial Hubs, then the scope of growth of the area will be tremendous.
Size of the Road
- The size of the connecting road from the plot has an impact on the value of the plot. If it is
40 feet road – Best
30 feet road – Better
23 feet road – Good
- If the size is below 23 feet, then the acceptability is very low. Same time movement of two vehicles is difficult on 23 feet roads.
Direction and Facing of plots in Chennai
- East facing and North facing plots are the most preferred in the selection process.
- Astrological and sentimental reasons have an impact in selecting a particular direction.
Safety Factors on the plots in Chennai
- Make sure that there are no overhead cables across the land.
- Ensure no water logging problems during the rainy days/rainy season.
- Both daytime and night time safety is important.
Ready to Build Plots
- A plot with ready piping connections to provisions for metro water, provisions for electricity, and provisions for drainage is called ready to build plots.
- These types of plots are most preferred and more advantageous for investment and also for resalable in future for no waiting period for these connections.
- Traffic congestion area comes under developed area part, for which rate will be hike always in future.
Peace of Mind
The following are the most important five factors, that are considered for the peace mind:
- Environment should be eco friendly nature.
- Environment should be free from noise pollution.
- Encourages healthy lifestyle with all kinds of basic amenities.
- Accessibility to religion centers for all types of religious people.
- Free from Traffic congestion.
- Chennai recently underwent major developmental changes, especially in terms of infrastructure. The region has already started gaining momentum among investors and home seekers.
- The demand for plots in Chennai has increased as there is a speedy growth with excellent connectivity, a good number of upcoming projects, day by day developments with excellent infrastructure.
- The scope of exponential growth at electronic industry makes many of the world’s leading IT companies to plan for expansion and future investments. This leads to tremendous increase in land value.
- The wide and expansive road structures with supreme connectivity, tremendous business developments with high level of job opportunities have lured many to look for plots in Chennai.
- An influx of global lifestyle with all the modern day conveniences and improved socio economic conditions increase the Migrant population due to increase in job opportunities. The migrant population tends to buy and invest in land and settle.
- As the city expands to include the suburbs and the areas beyond, there is a great deal of real estate transactions taking place.
- Chennai is a favorite destination and promising investment zone for investors who look forward to making a high profit from their investments.
- The plot buyers have multiple options to choose from according to their