Useful Tips To Help Avoid Fraud While Investing In Plots In Mysore

Posted Date: March 6, 2023

Mysore is a fast-growing Tier-2 city in India that is soon turning into a real estate hotspot given the growing number of opportunities that it offers.

Investing in plots in general has always been a good real estate investment even considering the future as plots offer multiple benefits to owners. In the case of investing in buildings too, there certainly are many benefits but land offers the most benefits. Given that real estate investment is a huge investment and is done after thorough planning for good reasons, it must be done securely. Fraud is not new in the sector; while fraud has been cut to a great extent as compared to many years ago, it is still not eradicated. Rather than getting into unseen complications after investing in plots, it is always safer to invest in plots with caution while avoiding fraud.

Useful Tips To Help Investors Avoid Fraud While Investing In Plots In Mysore

Frauds happen even in smaller cities

The world is growing faster than ever and this includes the real estate sector. There is a misbelief that frauds only happen in bigger Tier-1 cities, but in reality, Tier-2 and even Tier-3 cities are not free from fraud as there are always fraudulent developers and resellers trying to profit through unethical means and fake promises made to potential investors while they are planning on investing in plots. Being aware is the first step in being mindful before taking the plunge.

Know the developer

Not all real estate developers are what they claim to be! But fret not, some research will surely throw light on facts. Right from going through the developer’s website to talking to its past clients about their experiences can help you figure out whether investing in plots with the said developer is reliable.

Know the seller

As land is being used up faster than ever, there are many resellers who wish to make a profit out of the rising demand for plots. Knowing the reseller by communicating with them with the right questions can be a safe way to analyze if they can be trusted. Ensure to also ask some questions on how they happened to own the plot in consideration too!

Learn about the history of the land

A mother deed is a document that contains the entire history of the said land. While investing in plots in Mysore or elsewhere, ask for the mother deed from the developer or reseller to verify that there are no ongoing litigations and that the land is free to be sold or bought.

Verify land details

Details of the land such as the type of land and the amenities are important. In India, any property that has an area of over 500 sq. m. is mandated to be registered under RERA which means it would have a RERA registration number allotted at the time of registration. You can verify all details regarding the said land and its registration by searching for the same using its RERA registered number on the official website of RERA Karnataka. In fact, registration is required even before a property is promoted.

It is always better to make a fully informed investment through a reliable real estate consultant and developer rather than investing in a property without enough information. This avoids the investor from being a victim of real estate fraud.

Your search for a reliable real estate consultant in Mysore ends at GSS Projects! The company has been around since 1995 and has made great progress in the field of real estate. Contact us for help from an expert team and rest assured that you be safe in investing in plots.