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Source: indiaproperty.com

How to avoid land fraud when investing in a plot in Hyderabad

How to avoid land fraud when investing in a plot in Hyderabad

How to avoid land fraud when investing in a plot in Hyderabad

The realty sector is fast becoming a dubious industry. And with a number of conmen entering the sector- several home buyers are shying away from purchasing properties. The recent incident that sent shock waves across India was the land scam conducted by a native of Andhra Pradesh. Yellapragada Prabhakar Sharma duped several customers by promising to develop a township which would house members a particular community in the outskirts of Hyderabad. Selling them fictitious plots, he floated an easy scheme selling 200 square yards of land priced between INR 6 lakhs and INR 6.5 lakhs. With 20% of the amount being paid as down payment- Yellapragada started cheating his clients by selling the same plot to other customers. Although he was arrested recently – there are a few things one needs to know before purchasing plots as Hyderabad is growing faster than any other city leaving several loopholes open for scammers to exploit. So if you want to buy land in Hyderabad – here are a few pointers for you.

Pointers to keep in mind before buying the plot

Begin by verifying if the seller actually has the right to the plot you like. Ask to see the title deed of the land and confirm if the land is registered under his name and if he has full rights to sell the property. If you do not understand this, you could always hire a lawyer to verify the document for youBefore you close the deal, check if the land has any legal dues. You don’t want to end up putting your hard earned money into a piece of land that is still under litigation. Collect the EC (Encumbrance Certificate) from the sub registrar office and check if the certificate states that the property does not have any legal complaints or dues against it and only then buy the propertyCheck if the plot has been approved by the HMDA (Hyderabad Metropolitan Development Authority)Do some background research for any contingenciesBuy the plot only if it meets your infrastructure requirements, check for a deeded right of way that allows the right to construct a public road on the landCheck if the land-use zone is in accordance with the master plan for the plot

Documents to collect from the seller

Collect the title of the property along with the sales deed from the sellerGet your land registrations deals with the ownership immediatelyAsk the previous owner/dealer to submit all the older copies of the sales deed. This will give you access to all the previous ownersCollect all the bills, and tax receipts of the plot that is for sale before you actually purchase itCollect the land measurement documents along with the urban land & ceiling and regulation certificate

Nidhi C Thacker for IndiaProperty.com

Image: https://pixabay.com/en/road-sign-attention-note-scam-464641/

By: indiaproperty.com

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