Site Purchase in Mysore
You have finally decided to go ahead with a site purchase in Mysore, but are unsure where to start. Here is a guide to simplify Mysore real estate and the process of buying plots in Mysore.
- RERA-approved projects
Real Estate Regulatory Authority (RERA) has been the standard authority for real estate in India since 2013. The RERA Act was passed in 2016 to protect buyers from malpractices by builders. Karnataka implemented the RERA Act in 2017. Always ensure to opt for RERA-approved projects.
- MUDA-approved sites
Mysuru Urban Development Authority (MUDA) offers the buyer a hassle-free purchase. You will avoid any future legal complications if you ensure that your site purchase in Mysore is of a MUDA-approved site.
- Other documents
You need to verify other important documents such as the encumbrance certificate (EC), Khata certificate and Khata extract to be assured that the plot or site is free from legal obligations including monetary obligations.
- Locality matters
Just like any other city, Mysore also has some areas that are better than the rest. It all depends on what your purpose of site purchase in Mysore is. A short research will give you plenty of options.
- What are your requirements?
The next question would be whether you are looking to relocate for work, education or a calm retirement option. Accordingly, you can purchase a plot or site that is close to your requirements.
- Purpose of site purchase in Mysore
Whether you are buying plots in Mysore for investment, agriculture, construction or reselling purpose, the choice of land should be the one that’s suitable for the same.
- Basic amenities
Basic amenities such as electricity and water are a must for any site; connecting roads must be available too, for smooth transport.
- Credibility of seller
Whether you are purchasing directly from MUDA or from someone who already owns and has rights over the property, you need to verify the credibility of the seller. The seller could be an individual or a company.
- Pricing – market price
Make sure to do some research online or ask the locals around to learn about the current market value of the plot that you are planning to invest in. Do not end up paying much higher than is necessary; this happens quite often in real estate.
- Return of investment
When you buy MUDA-approved sites in Mysore, you can be assured that you will have a good return of investment in the future. When you wish to sell the plot or property that you have constructed on the plot is completely your decision. Either way, ROI will be high as site purchase in Mysore is always a good investment.