Investing in Plots in Pune

Q: Hello Experts,

I am planning to invest in Farmhouse/Agricultural plots around Hinjewadi, Pune.My budget is around 7-8 lakhs. I understand that investing in farmhouse (Non NA) plots is a risky investment, but I am planning to go through a well known agencies who already have the plots developed, which nullifies the risk of encroachment,etc. Please suggests what all leagal things I need to take care of and what documents should be checked before investing in such plots.

Thanks!!

Rahul Bhoyar, Pune

9th December 2014

Investment Advice in Pune

residential plots in pune

residential plots in hinjewadi

buying plots in hinjewadi,pune

plots for sale in hinjewadi, pune

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Replies (4)

To purchase a piece of land, the following documents are required from the seller's end: 1) Original Land Deed of the current owner, known as the 7/12 document and also the previous owners with the proper names on the title. 2) An Encumbrance Certificate from the Sub-registrar's office for the last 30 years at least. 3) Release Certificate from the bank, stating that the loan on the land has been completely repaid.
4) Original property tax receipt and other bills relating to the plot.

Nitesh Patil, Pune

9th December 2014

Comment

If you decide to buy a land you need to be careful to avoid falling into legal hassles. Before buying a land, a number of points to be checked before you confirm that the land has a clear title. The legal status of the land is one of the first issues that should be addressed before confirming a property. However, please consult the lawyer at every required step.
Checklist for buying plots:- 1. Sale Deed, 2. Mother Deed, 3. Building approval plan, 4. Commencement Certificate (For under construction property), 5. Conversion Certificate (Agricultural to Non-Agricultural land), 6. Encumbrance Certificate (EC), 7.Betterment charges receipt, 8. Power of Attorney (POA), 9. Latest tax paid receipt.

Aarti Bal Pathak, Pune

9th December 2014

Comment

Factors for growth in the past:- Lack of sufficient space in the CBD area (as compared to demand) of Pune led to the emergence of Hinjewadi as an IT destination. Further, well planned infrastructure and swift road connectivity acted as a catalyst for the growth of the area. Today, several IT giants have their centres at Hinjewadi. These include Infosys, TCS, Wipro, IBM, Cognizant Technology Solutions, to name a few. As per the distance, Hinjewadi is about 18km from the Pune Railway Station and about 28km from the Pune Airport. Current residential property rate in the locality is Rs. 5400-5700/sq-ft. And the plots rate is between Rs. 6300-7000/sq-ft.

Nitesh Patil, Pune

9th December 2014

Comment

Hi,
Hinjewadi has developed as a major IT hub in Pune but was a village on NH-4 bypass earlier. Rajiv Gandhi Infotech Park is located in Hinjewadi which houses about 20 software companies. An advantage for Hinjewadi is that it is about 10 kms from Pune city and close to Mumbai-Pune Expressway. Hinjewadi is a desired destination for residential projects due to the presence of IT companies, hotels and educational institutes in the vicinity.

Aarti Bal Pathak, Pune

9th December 2014

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