Explore the Comprehensive Guide to Buy Plots in Chennai: Manage the Do’s, Don’ts, and Hidden Costs.
Excitement, research, planning, and more planning! All this rings true when one plans to buy plots in Chennai. Thank the city’s enthusiastic professionals seeking to find their homes in Chennai and the city’s infrastructure boom, recently. Well, the process can be strenuous when one begins to research to find the right plot and the most suitable real estate dealers in Chennai. More diligence is required when one is analysing the worth of the fast-selling residential plots for sale in Chennai. Because one can miss out on the hidden charges that come along which might skip the buyer’s attention. Your financial planning might turn topsy-turvy!
Fret not. This blog will act as the perfect guide in taking you through the do’s and don’ts to remember when looking to buy plots in Chennai. And, how partnering with a credible and established realtor like Elephantine Enterprises, can take the weight off your shoulders and make the entire purchase process a seamless one.
Key aspects to consider when planning to buy plots in Chennai.
Conduct thorough research: The property market is a volatile one, making market research imperative, more so for first-time home buyers. With overflowing property options in Chennai, thorough research helps plan your requirements and budgets. You can skim through online sources, read through reviews, talk to real estate agents, and visit the sites to get first-hand information.
Plan your budget: Setting and sticking to your budget will help you navigate through the purchase process and manage deviations easily. Consider your affordability (including miscellaneous expenses). Seek the assistance of a financial advisor or real estate agent to align your financials with your purchase goals.
Partner with a credible realtor: To avoid hitches in your purchase journey and manage hidden costs while looking for residential plots for sale in Chennai, it is vital to find a well-established real estate developer such as Elephantine. The company with its expert industry knowledge will be able to take you through the legalities, negotiate on your behalf, & ensure a smooth buying process.
Seek legal advice: To ensure due diligence and avoid legal disputes at every stage of the purchase deal consult a lawyer or reputed real estate developer. Renowned companies like Elephantine will help you with document and ownership verifications, ensuring utmost legal compliance at every stage.
“Don’t” forget the below aspects when buying plots in Chennai
Do not jump to conclusions: Evaluate options, visit different properties, and consider the pros and cons. Conduct thorough due diligence on the property and locality before making a final decision so that you do not overlook crucial details.
Do not forget to validate the documents: Thoroughly verify the property’s title, check for encumbrances or liens, and the legal rights of the seller. So, you do not end up feeling cheated or overcharged.
Do not overlook scope for growth: When buying residential plots for sale in Chennai, consider the locality’s scope for development, and the promoter’s ongoing and future projects.
Do not ignore the resale/appreciation value: When you plan to buy plots in Chennai, consider the property’s worth now and in the future. Remember, factors like location, amenities, & potential for growth can significantly impact the resale value. The top realtors in Chennai such as Elephantine ensure that they offer residential plots for sale in Chennai with the best appreciation values because they know the market and its entities, the best.
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Look out for the below-hidden costs when buying plots in Chennai.
Stamp duty & registration charges: These charges will be applicable on the sale deed and are based on the property’s market value.
Legal fees: Taking the support of a lawyer (and legal fees) to review the property documents will ensure a smooth transaction.
Property tax & maintenance fees: Stay informed about the ongoing property taxes and maintenance fees which are essential for long-term ownership.
Infrastructure & development charges: Some plot developers levy extra charges for the development of the surrounding areas.
Brokerage fees: Factor in brokerage fees if you a real estate agent/broker are involved in the transaction.
Utilities charge: Premium plots in Chennai will carry costs associated with utilities like water, electricity, & sewage, include these when planning your budget.
Loan processing fees: If financing your plot purchase through a loan, keep in mind the associated processing fees & charges from the lending entity.
Land conversion charges: In some cases, agricultural land may need to be converted for residential use, which can entail additional charges.
GST and other taxes: Consider the impact of GST and other taxes on the overall purchase cost.
Contingency fund: It is wise to allocate a contingency fund for any unforeseen expenses or additional costs arising during the purchase process.
Elephantine’s successful projects set a lofty benchmark for the rest! The company has been a renowned real estate promoter, dealer, land aggregator and the best guide for new buyers, investors, and resellers. The company’s prudence, knowledge of the demography, and industry expertise can prove to be your most fitting real estate partner. The company’s much-talked-about and hot-selling projects include:
Haven in Thirumullaivoyal – A secure and spectacular community of villa plots.
Easton Enclave in Perungalathur – 3 acres of secured community within the sensational SSM Nagar.
Aztec in Thirumazhisai – an exceptional residential enclave housing 211 premium villa plots.
Do not miss your chance to own a home in Chennai with the best of amenities and in the prime locality. Visit Elephantine’s website today.
