Plots for sale in Tambaram are popular due to their excellent connectivity to the city center and the presence of good educational institutions nearby.
Chennai, the capital of Tamil Nadu, has been experiencing rapid growth in its real estate sector. With the city expanding in all directions, plots for sale in Chennai have become an attractive investment option for many. Whether you're looking at plots for sale in Tambaram or considering plots in Kelambakkam, it's crucial to have a comprehensive checklist before making your purchase. This guide will walk you through the essential factors to consider when buying a plot in Chennai.
1. Location and accessibility
The first item on your checklist should be the plot's location. Consider the following:
- Proximity to main roads and highways
- Access to public transportation
- Distance from your workplace or children's schools
- Nearby amenities like hospitals, shopping centers, and recreational facilities
For instance, plots for sale in Tambaram are popular due to their excellent connectivity to the city center and the presence of good educational institutions nearby.
Read more about why investing in Prime Location: Chennai’s promising location to invest
2. Legal verification
Ensuring the legal status of the plot is crucial. Here's what you need to check:
- Verify the seller's ownership through original documents
- Check for any legal disputes or encumbrances on the property
- Ensure the plot has a clear title
- Verify that the land use is approved for residential purposes
3. Approval and permits
Different areas in Chennai may have different regulations. Ensure that:
- The plot has approval from the Chennai Metropolitan Development Authority (CMDA) or other relevant local authorities
- There are no pending legal issues or violations
- The plot adheres to local zoning laws
This is particularly important for rapidly developing areas like Kelambakkam, where plots are in high demand due to the IT corridor's proximity.
4. Site visit and inspection
Never purchase a plot without personally visiting and inspecting it. During your visit:
- Check the plot's dimensions and ensure they match the documents
- Assess the topography and soil quality
- Look for any signs of water logging or drainage issues
- Evaluate the neighborhood and surrounding developments
5. Future development plans
Research the future development plans for the area. This includes:
- Upcoming infrastructure projects
- Proposed commercial developments
- Plans for parks, schools, or hospitals in the vicinity
For areas like Tambaram and Kelambakkam, staying informed about future IT park expansions or road projects can help you make a more informed decision.
6. Water availability
Water scarcity can be a significant issue in Chennai. Verify:
- The availability of corporation water supply
- Groundwater levels in the area
- Any restrictions on borewell digging
7. Flood risk assessment
Given Chennai's history with floods, it's crucial to:
- Check if the plot is in a low-lying area
- Assess the area's flood history
- Verify if there are any nearby water bodies that could pose a risk
This is particularly important for plots in coastal areas or near lakes and rivers.
8. Power supply
Ensure that:
- The area has a stable electricity supply
- There are no issues with voltage fluctuations
- Verify if there's a need for a transformer installation
9. Price comparison
Before finalizing your purchase:
- Compare prices of similar plots in the area
- Research historical price trends
For instance, compare prices of plots for sale in Tambaram with similar areas to ensure you're getting a fair deal
10. Payment and documentation
Once you've decided to purchase:
- Negotiate the price and payment terms
- Ensure all payments are properly documented
- Obtain receipts for all transactions
- Sign a proper sale agreement
11. Future resale value
Consider the plot's potential for appreciation:
- Evaluate the area's growth prospects
- Consider upcoming infrastructure projects that could boost property values
- Assess the demand for plots in the area
Areas like Kelambakkam, with their proximity to the IT corridor, often show good potential for value appreciation.
12. Environmental concerns
Be aware of any environmental issues:
- Check for any industrial zones nearby that could cause pollution
- Verify if the plot is near any ecologically sensitive areas
- Ensure there are no restrictions due to coastal regulation zones
13. Social infrastructure
Evaluate the social infrastructure in the area:
- Quality of schools and colleges
- Availability of healthcare facilities
- Presence of markets and shopping centers
- Recreational facilities like parks and sports complexes
14. Security aspects
Consider the safety of the area:
- Check the crime rate in the locality
- Presence of street lights
- Proximity to a police station
15. Future construction costs
If you're planning to build on the plot:
- Estimate the construction costs in the area
- Check the availability of construction materials
- Verify if there are any specific building regulations in the locality
Purchasing plots for sale in Chennai can be a rewarding investment if done with proper research and due diligence. Whether you're looking at plots for sale in Tambaram for its excellent connectivity or considering plots in Kelambakkam for its proximity to the IT corridor, this checklist will help you make an informed decision.
Read more about Investing in Plots: Why buy plot in Tambaram location
Remember, each area in Chennai has its unique characteristics and potential. Take your time to thoroughly evaluate all aspects before making your purchase. By following this comprehensive checklist, you'll be well-equipped to find the perfect plot that meets your needs and offers good value for your investment in Chennai's dynamic real estate market.