Hi Kruthika, If you are planning to invest on land , then you must follow some rules & regulations & verify some documents to ensure you are investing properly . Documents you need to check are :- 1- Title deed (Legal document showing person's right to the property), 2- Encumbrance Certificate(Proves that land is not any sort of legal dispute), 3- Release Certificate(in case the land was previously pledged to someone else),
Hi Kruthika, As per my knowledge,you should check like, it may also lack basic facilities such as water and power supply, or fall in a politically or socially challenged sector. It may also be in a zone notorious for encroachment. The piece of land may be under litigation or may be earmarked for a government project. It may be categorised as forest land or can be in a coastal regulation zone.
@ Kruthika, My opinion is you have to plan according to your finance. Because vacant land does not produce income, some bank lone will not be applicable. If you intend to use leverage to buy, you will probably need to find lenders that will provide you with loans that are tied to your income and ability to repay as opposed to being tied to the property's income.