Real estate investment is an investment that is a life changing decision. Not everyone
can get a positive result in terms of investment in the field unless the right steps are
followed. One of the most important steps to take when investing in a real estate is
checking the land records. It is a comprehensive data of the land that you are willing to
invest in for future. Real estate is a growing sector if smart steps are taken and by taking
land records into consideration. There are reasons why you need to consider it.
Continue reading and know the reason.
Land Records and the Important Aspects
Age of the Property
It can be a land or a built property. Whatever it may be, you need to know the age of the
property because it tells you the property’s true worth. By having a look at the property,
you won’t be able to guess the property’s age. When you have the land records handy,
you will know the real age of the property. It is imperative that you seek for the records
of the land.
Registration of the land
You need to have the land registration detail for a better inspection of the land before
you take the decision of investment. Registration of a land is important and whether it
was done in the past or not will be revealed with the help of the registration details.
Land record also consists of the Title Deed which saves the potential buyers from getting
false information and taking a wrong decision. It shows the ownership of the land and
this is how you save yourself from any kind of fraud that may come your way. It is
similar to buying a used vehicle. You definitely look for the transfer of ownership but
before that you check if the owner details match with what has been provided.
Do you want to buy a land that has dues that you will be burdened with later? I am sure
you don’t want to. It is, therefore, necessary that you get the encumbrance certificate
and know about hidden pending dues that you never want.
You want to be sure that the land is free from any tax. The land record will give you
transparent information about the tax payment and the receipt. The record will be
beneficial in taking the right decision in buying a land that you have chosen. It is illegal
not to pay land lax and you don’t want to acquire a land that has been illegally possessed
all these years.
There are other important factors that will need consideration before you invest in a
land. The ones that you can’t ignore apart from the ones mentioned above are sale deed,
land measure record, agreement details and more.
Don’t jump the gun when you have heard positive reviews about a land that the broker
or property dealer has brought to you. You need a few other items to consider so that
you know whether the land is a potential buy or not. Land record is the status of the land
that tells you legal binding on the land. Is it a white land or a black land? You know the
best strategy to buy a land that will be a buy that gives you potential benefit in the past.
You will have no difficulty in finding the land record as it is published in public forums
for the information to be read by everyone. Maintained and updated by government, you
get a clearer picture of the property and take only a decision that is in your favor.