Purchasing a plot of land on a main road in a village can be a truly transformative investment opportunity, offering a wealth of advantages for smart investors. While the convenience of easy access to transportation and local amenities is undeniable, it is essential to carefully weigh the pros and cons before making this significant financial decision.
The prospect of owning a roadside property in a village setting is an enticing one, as it often comes with a more affordable price tag compared to urban areas. This can be a game-changer for those seeking to maximize their investment, providing the potential for substantial returns down the line. Moreover, the constant flow of traffic and activity along the main road can create a vibrant, bustling atmosphere, catering to those who thrive on the energy of a well-connected community.
However, the delicate balance between accessibility and serenity is a crucial factor that each prospective buyer must weigh carefully, based on their individual needs and preferences.
In this comprehensive guide, we will delve into the key factors to consider when buying a roadside land on a main road in a village, empowering you to make an informed decision that aligns with your long-term goals and lifestyle aspirations.
Whether you are a first-time investor or a seasoned real estate enthusiast, this article will equip you with the knowledge and insights necessary to navigate this exciting and potentially lucrative opportunity.
Better Access to Transport:
A plot on a main road in a village will have easy access to transportation, making it convenient for residents to commute to and from work. People will also have close access to public transportation as houses on main roads are usually close to bus stops, etc.
Visibility:
A plot on a main road in a village will be more visible, increasing the chances of your property getting noticed by potential buyers or tenants. This makes it a good option for commercial properties or businesses that rely on foot traffic.
Higher Resale Value:
Plots on main roads in villages tend to have a higher resale value due to their prime location and easy accessibility. As the area develops, the property value is likely to increase, making it a good investment opportunity.
Better Infrastructure:
Main roads in villages are usually the first ones to get better infrastructure facilities like water supply, electricity, and internet connectivity. This can be a big advantage, especially if you plan to build a house or a commercial property on the plot.
Where Everything Is:
The main road of a village is always the busiest of all roads. A huge number of people will commute on a daily basis from the road close to your home.This is a major plus for the people who appreciate a lively neighbourhood and enjoy the hustle and bustle of the village.
Close Proximity to Schools, Hospitals, Businesses:
As previously mentioned, accessibility is one of the main pros associated with living on the main road in a village. You will most likely have easy access to the greatest amenities in the village, such as schools, hospitals from your place.
Better Security:
Compared to homes in quiet regions, people have far better security and police presence on the main roads in a village. These roads are close to the regular noise and the busy life of the village. Furthermore, main roads in a village are also well-lit and crowded, making it very likely that you feel safer going alone at night on the main road as compared to walking alone on quiet roads.
Better Road Maintenance:
Due to low traffic, side lanes and streets do not receive the same care as main roads in a village. In case of a region, which sees snowfall, main roads are always cleared first due to their high usage.
By considering these detailed advantages, prospective buyers can make a more informed decision when evaluating the potential of purchasing roadside land on a main road in a village.
Unwanted Noise: Living on a main road exposes residents to higher levels of noise from traffic, including vehicle engines, horns, sirens, and general road noise. If noise is a significant concern, a busy street might not be the best choice.
Lack of Privacy: The constant presence of neighbors and passersby can make it challenging to maintain privacy. Additionally, noise from the road and nearby activities can further diminish the feeling of seclusion within the property.
Dust and Pollution: Living on a main road means dealing with more dust, automobile exhaust, and other forms of pollution. If you are sensitive to air quality or don't have a good air filtration system, this could be a problem.
Parking Challenges: Finding parking on a main road can be difficult, especially if you have more cars than your garage and driveway can accommodate. Additionally, even if you can find parking on the side of the road, your car may be at a higher risk of being hit.
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Do Not Hurry and Do Proper Research:
Buying land is an emotional decision and often salespeople use a lot of tactics for selling the plots . Don't believe the seller when they say that just 12 plots are remaining or the prices are increasing next quarter when they do their Mega Launch . It never happens. Period! Make many visits to the plot. Don't book the plot just after one meeting or without visiting the plot yourself. Make at least 3 to 4 visits before the deal. Understand the local zoning laws and regulations regarding land use and development and dont forget to research the area's history, growth prospects, and infrastructure development plans.
Check the Nearby Development Yourself
Don't believe the salesperson about the nearby development information. If the salesperson says that a new road/ hospital is coming up nearby or if there are 3 colleges within a 2 km radius, just find it out yourself.
Talk to People Nearby the Plot
If you can go a bit further, see if you can talk to people who live nearby the plot. Make a random visit and then ask the shopkeepers nearby, houses nearby on the points which concern you.
Bargaining for the Price
Often the list price quoted for the plot is never the final price. In a country like India, it's a well-known fact that there is always bargaining. So you can easily assume a 5-10% margin. Ask them to reduce and settle only after you feel satisfied. Take a lot of time to decide and often you will see the prices coming down. It's very important that you do not show your desperation on buying and also share with them some names of nearbyplots available and how you also like them and you need a strong reason to buy a plot from them.
Search Online About the Plot Scheme or the Area of Land:
Always search for information about the project or builder online. You will often come across others who have visited the site, or interested in the same project, you can connect with them and have a throrough decision. Ensure the land is legally registered and the title is clear and Verify the land's boundaries and dimensions with the local authorities.
Check the Infrastructure:
Always ensure the land has access to basic amenities like water, electricity etc. Check if the land is connected to the main road and if there are any plans for road widening or development. Make sure to ensure there are no restrictions on the land use or development and find out if there are any environmental or conservation restrictions that may impact the land's potential.
Inspect the land
Before considering to buy a land, always inspect the land to ensure it is in good condition and free of any environmental hazards.Check for any signs of erosion, flooding, or other natural disasters that may impact the land's value.
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There are several government regulations and procedures that one has to go through when buying a road side land in villages in India.
Here are some key points to consider:
Stamp Duty on the Land: Stamp duties are government taxes that vary from state to state. These duties are paid on the sale deed and are considered a legal document that can be admitted in court as evidence. For example, in Maharashtra, the stamp duty is 5% of the sale value of the land.
Registration of the Land: Registration is the process by which a copy of a document is recorded and the title of the immovable property is transferred in the name of the buyer at the registrar's office. This process must be completed within four months of the date of the execution of the document. In India, the registration process is governed by the Indian Registration Act, 1908.
Conveyance Deed or Sale Deed of the Land: A sale deed is a document that transfers the title of the property from the seller to the buyer. This document helps determine ownership of the property, its location, and details such as site measurement and boundary details. The sale deed must be executed by the parties involved and registered at the sub-registrar's office.
Tax Receipt and Bills: The buyer should check the latest property tax bills and ensure that all outstanding debts have been paid in full. Water, electricity, and other bills should also be up to date. For example, in Maharashtra, property tax is levied by the municipal corporation and is based on the annual value of the property.
Encumbrance Certificate: An encumbrance certificate may be obtained from the sub-registrar's office for the last 13 or 30 years to ensure that the land has no legal duties or complaints. This certificate is essential to verify the title of the property and ensure that there are no outstanding liabilities.
Measuring the Land: A recognised surveyor can ensure that the measurements of the plot and its boundaries are accurate and as indicated in the title certificate. In India, the Survey of India is responsible for conducting surveys and mapping the country.
Changing the Title of the Land in the Village Office: The entire legal procedure for the purchase of the property is completed only if the name of the new owner is added to the village office record. An application can be made to the village office, together with a copy of the registered deed.
Conversion of Agricultural Land to Residential Land: An application form must be submitted to the concerned authorities, clarifying the reason behind conversion. Necessary documents like sale deed, tax paid receipt, and mutation letter must be submitted with the application form. The authorised person will permit conversion of the land if the necessary conditions have been met and no litigation is pending.
Due Diligence: Conduct thorough due diligence by verifying the property's title deed, ensuring the seller is included on the title deed, and confirming that all outstanding debts have been paid in full. Original receipts should be obtained from the seller, and the buyer should ensure that the seller has proper identity proof.
Legal and Title Verification: Engage a qualified lawyer to conduct a thorough legal and title verification to ensure that there are no gaps or issues with the property's title. This includes verifying the ownership, boundaries, and any outstanding liabilities.
Gram Panchayat Approval: In some cases, approval from the Gram Panchayat may be required for construction on the land. However, it is essential to verify the specific requirements for the area in question.
Registration and Mutation: Ensure that the land purchase is registered at the sub-registrar's office and that the mutation process is completed to transfer the title of the property. Mutation is the process of updating the records of the property in the name of the new owner.
Zoning and Land Use: Check the zoning and land use regulations for the area to ensure that the land can be used for the intended purpose. In India, zoning regulations are governed by the Town and Country Planning Act, 1973.
By considering these regulations and procedures, you can ensure a smooth and successful roadside land purchase in a village in India.
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Investing in roadside land in a rural area can be a lucrative opportunity, but it also comes with several potential risks. Here are some of the key risks to consider:
Market Fluctuations:
The value of rural land can fluctuate based on market conditions, making it difficult to predict the future value of the land. Changes in government policies, economic conditions, or environmental factors can impact the land's value.
Environmental Risks:
Rural areas are often prone to natural disasters like floods, droughts, or landslides, which can damage the land and affect its value. Environmental concerns like pollution, soil degradation, or water scarcity can also impact the land's value.
Infrastructure and Accessibility:
The lack of proper infrastructure, such as roads, water supply, and electricity, can make it difficult to develop the land. Limited accessibility can also make it challenging to sell or rent the land.
Zoning and Land Use Restrictions:
Zoning laws and land use restrictions can limit the use of the land, making it difficult to develop or sell. Changes in zoning laws or land use restrictions can also impact the land's value.
Title and Ownership Issues:
Title and ownership issues can arise due to unclear or disputed ownership, making it difficult to sell or develop the land. Ensuring clear title and ownership is crucial before investing in rural land.
Maintenance and Management:
Rural land often requires more maintenance and management compared to urban areas, which can be time-consuming and costly. Ensuring proper maintenance and management is essential to maintain the land's value.
Security and Safety:
Rural areas can be more vulnerable to crime and security issues, which can impact the land's value. Ensuring proper security measures are in place is crucial for the land's safety and value.
Regulatory Compliance:
Investing in rural land often requires compliance with local regulations, which can be complex and time-consuming.Ensuring compliance with regulations is essential to avoid legal issues and maintain the land's value.
Market Saturation:
Over-saturation of the market with similar properties can lead to decreased demand and lower land values. Ensuring the land is unique or has a competitive advantage is crucial to maintain its value.
Long-Term Commitment:
Investing in rural land often requires a long-term commitment, which can be challenging for investors with short-term goals. Ensuring the land aligns with the investor's long-term goals is crucial to maximise returns.
By understanding these potential risks, investors can better assess the potential of roadside land in a rural area and make informed decisions about their investment
An opportunity to buy a road side land in a village is certainly a great chance. The investment appeal of owning a plot away from the city, also is a dream for many buyers. However, it is crucial to carefully weigh the pros and cons before making this significant financial decision. By conducting thorough due diligence, understanding the relevant government regulations, and taking the necessary precautions, investors can navigate this opportunity successfully. Engaging with the local community, verifying the land's title and infrastructure, and ensuring compliance with zoning laws are all essential steps in the process.
Ultimately, the decision to invest in roadside land on a main road in a village will depend on the individual's long-term goals, lifestyle preferences, and risk tolerance. For those who value accessibility, connectivity, and the energy of a well-connected community, this investment can be a game-changer. By carefully considering the factors outlined in this comprehensive guide, prospective buyers can make an informed decision that aligns with their unique needs and aspirations, maximizing the potential of this exciting investment opportunity.