Chennai is becoming synonymous with lucrative investment choices! More so with the boom and advancements in the city’s real estate landscape.
Most real estate developers in Chennai leveraging the rise in the city’s income-earning crowd are offering unmissable property investment choices.
But don’t fall for just the location or the price of the land!
Because many buyers make grave mistakes that can cost them time, money, and peace of mind, whether you are looking for residential plots in Chennai, villa plots in Chennai, or simply exploring options to buy plots in Chennai as an ideal investment option, this blog will help you avoid important pitfalls to help you make a smart investment.
Looking for plots in Chennai? Watch out for these 5 common mistakes to avoid
Forgetting to verify the legal approvals and documentation.
Is the Plot Legally Approved?
Do not be one of the many new buyers who rush into a property purchase without checking the legal status of the plot.
- Ensure the plot has DTCP and CMDA approvals in place.
- Verify property titles, sale deeds, and encumbrance certificates.
- If the property is a villa plot in Chennai, ensure it is part of an officially sanctioned layout.
Did you know many non-approved plots may lead to legal disputes, lack of infrastructure development, or even demolition by authorities?
Do not ignore the plot’s location and future growth potential
A strategically located = high-value appreciation.
- Check proximity to essential landmarks like IT parks, metro stations, schools, and hospitals.
- Look for infrastructure growths like new & important connecting highways and metro extensions.
- Research the past price trends of plots in Chennai to ensure long-term value.
Pro Tip: A cheap plot in a remote area might seem like a clever bargain, but if the location has poor development potential, then your investment may take a downward dive.
Related: As a buyer, why is it vital to understand the appraisal process of plots in Chennai?
Why buy our plots?
- Located at the most-developing locations in Chennai
- Few minutes from the IT hubs, schools, hospitals, malls.
- Proximity to Chennai highways & city connecting roads.
- Potential for high value appreciation.
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DO NOT overlook hidden costs.
Is the price really what you pay?
- While the initial cost of buying plots in Chennai might seem affordable, hidden expenses can inflate your budget.
- Registration fees, legal charges, and stamp duty can blow up the agreed property price.
- Development costs for roads, water, and electricity may not be included.
- If you’re considering villa plots in Chennai, check for additional maintenance fees.
Did You Know? Stamp duty in Tamil Nadu is around 7%, and registration charges are 4%, significantly increasing the overall investment.
Do not overlook the risks associated with soil & flood.
Is the Land Fit for Construction?
- Assess the soil quality & vulnerability to flood before purchasing a residential plot in Chennai.
- Conduct a soil test to ensure it is fit for construction.
- Check if the area is prone to flooding, especially during monsoons.
- Avoid plots in low-lying areas without proper drainage systems.
Pro Tip: A plot with poor soil conditions may require additional foundation work, increasing your construction cost.
Check the builder/real estate developer’s credibility.
Are you ready to trust the chosen real estate developer with your hard-earned money?
- Do not be one of the buyers who fall for false promises and misleading advertisements by unverified developers.
- Research the developer’s performance record and previous projects.
- Read customer reviews and verify project completion timelines.
- If choosing a property in a gated community, check the amenities and legal clearances.
Did You Know? Tamil Nadu has regularized 33 lakh (3.3 million) unauthorized plots in just three years!
Final thoughts
As impossible as it can seem to buy a residential plot in Chennai, it is also one of the best investments if done wisely.
Whether you are looking for plots in Chennai for immediate construction or long-term investment, due diligence must be at the top of your mind.
Do your research to avoid the above-discussed mistakes to ensure that your plot purchase is not only a wise, profitable, and hassle-free one but also brings along good growth potential.
Visit the Elephantine Enterprises website for some of the quick-selling plots in Chennai at the most-happening locations and also for expert consultation to help you make well-informed investment decisions.
