Buying a plot in a major city like Chennai can be an exciting milestone. Whether you have plans to build a house for your family or want to grow your wealth, investing in land for sale in Madhavaram, Thirumazhisai, and other flourishing parts of the city can be a smart long-term decision.
Many first-time property buyers, however, do make certain avoidable mistakes that may lead to legal complications and unexpected expenses down the line. Fortunately, you can prevent many of these mistakes simply by carrying out proper research and ensuring adequate process.
Not Researching the Location
A number of buyers buy plots simply based on their current prices, without understanding the future potential of the locality. This can be a big mistake, as the value of land is significantly influenced by the surrounding infrastructure and connectivity. Hence, you should prioritise buying plots in Thirumazhisai, Madhavaram and similar well-connected locations. These neighbourhoods are well-connected to major roads, public transport, schools, hospitals, and shopping centres and hence can offer better appreciation over time.
Failure to Verify Title and Ownership
First-time property investors might not be well-versed in the real estate market and hence can end up buying disputed land. Therefore, before buying a plot, you must:
- Make sure that a clear and marketable title exists.
- Demand the title deed, recent tax payments, and ownership documents that show the chain of ownership.
- Confirm the seller is legally able to execute the title transfer.
Skipping the Encumbrance Certificate (EC)
Many first-time buyers simply assume that a clean title deed is enough for proof of ownership, and hence skip asking for the EC or Encumbrance Certificate altogether. However, while the title deed shows ownership, it doesn’t show if the land has an active bank loan, mortgage, or legal claim against it. Without checking the EC, you may unknowingly buy a plot that is still pledged to a lender. Therefore, you must:
- Request the EC for at least the last 15–30 years from the sub-registrar’s office.
- Cross-check if EC period matches the ownership history on the title deed.
Steering clear of the common mistakes discussed above can help you make a successful and profitable property investment.
