Buying Land

With increasing prices of condominiums, people get ideas of buying land and building their dream house at the same cost of a luxury condominium. Many people decide to move out of city limits where land prices are reasonable. Before you jump head-first into buying land, there are several things that you should check on before you do.

If the reason of moving out of the city is to build your dream home, you need to check on zoning ordinances like industrial areas, SEZ's and any restrictions the land may have on what you can or cannot build. You also need to research on future plans in the suburb that may cause your land to lose value.

Unlike other countries, most cities in India don't have a land plan and its more like a wild spread. You'll need to check for land boundaries from proposed road widening or gutters and footpaths. Most architects recommend to leave about a foot space from the site plan. This prepares you for any future circumstances, such as road widening etc.

If you're planning to buy land which is quite interior from any main road, you'll need to check on utilities for any municipal water supply, electricity supply, landline broadband, garbage pickup etc. If they are not, you'll need to plan for the costs associated to get them.

It's easier said than done, many people say to opt for independent houses but it totally depends on personal choices. Bottom-line, it's a massive risk to buy land as you'll have to check the family tree of the land owner and we've also seen cases where people have sold land to multiple buyers. Land cases get into civil courts and move at a lethargic pace. If you own the land, building your own house is the way forward.

It takes an average time of 14 months to get an approval and complete the construction. The average cost of construction for upper entry level specifications can come up to
1500 per sqft. Most builders charge over 3000 as the community common areas are included in your bill.