Metalhead44

Hi Guys
I want to buy a plot on Lohegaon wagholi road where 2-3 plotting projects have come up with 90+ plots in each scheme . The rate quoted is 550/Sqft and plot is for 2,3,4 guntas. I don't need it basicaly for investment but I see myself building my own house after 7-8 years of time. I stay in Dhanori itself.

My question are

1) The is not N.A and it is agricultural land. Builder says that 7/12 he will give on my name. Does that entitle me as the owner and I can build my house without any legal issue?
2) He wants the money in one month's time. Can I opt for a loan ? I heard banks don't give loan for Non NA plots.please clarify
3) The upcoming pune ring road is also a major concern .Any idea about ring road plan or any document you can share? I searched net and got info that the original plan of phase 1 - kesnand-wagholi-bhavdai,tulapur is now changed by Dilip Band which has reduced the 170 kms to 100 km thereby posing a risk to the plots on the lohegaon/waghioli road. Where can I get the latest plan so that I can validate it.
4) The plot is in Survey No 47. I tried to find details from internet but got no details from it. can you direct me if the local gram panchayat office of lohegaon can give me these details?

They are increasing the rates also. I hear 600/sqft now and people are still buying it in hurry.Should I wait and watch? Is it a best deal to grab it now?

Basically I am a very conservative buyer and want to play safe. This money which I want to put is for my future home and hence I don't want to take any major risks. Please advice your expert opinions. Many thankss!!!

bonigv

Could you give a Google map location link of the property?

Answers to my best knowledge:

(1) It will be in your best interests to hire a property lawyer who can do the verification of ownership history. In theory a 7/12 (and registration documents) will give you a basic ownership proof. But it is better to do a check yourself. I did when I bought mine.

(2)Banks are less reluctant to finance plots from small time developers. But there are many plot schemes pre approved by banks like ICICI bank (At least it used to be) NA ==> Non Agricultural. You can build only on NA plots. Sometimes people buy Agricultural plots and convert it to NA.

(3)(4) No idea. PMC on its website has the development plans area wise. You can check it.

All the best.

mankind

with latest rules, 7/12 can be made ONLY IF the plot size is 20 guntha and above.
please make sure you understand this...if plot size is less than that and builder is saying that he will give 7/12 on your name THAT'S ILLEGAL

bonigv

Is this very new update to the law? 'cause I got my 7/12 for a much smaller plot as recent as 2 months back from the Talati's office.

Repeat : Hire a lawyer if you are serious about buying land.

Metalhead44

Thanks Bonigv.. I have not yet contacted a lawyer, but I was myself able to get a copy of the Guntawari bill.

http://landsofmaharashtra.com/userfi...VELOPMENTS.pdf

After reading it, it is clear that plotting of agriculture land is not Legal.However it is still a common practice as government has a soft stand on it. seems like once people start building homes ,Gov is in no mood to uproot it and hence this practice thrives. Eventually they declare it R Zone .

Mankind :what is your source when you say that 7/12 cannot be done for plots <20Gunta? Does that mean 7/12 is fake?

NIKETAN

*First check the DP Plan , because there are network of DP roads passing through plots. Check if the road is not passing from your plot which you are thinking of buying. For the same contact a broker who is well known in that are -John, Mr. Vora- these might help. Or higher an well known architect from lohegaon Or. Simply get the DP Plan from collectors office if you are that concered about the rates.

*If you are buying land in Agriculture zone- you won't be able to construct a legal residence- there won't be a NA. Consult a Lawyer.

* Lohegaon comes under gram panchayat. Water, Infrastructure, surronding would create a problem. But that area is going to be developed someday- there is no time line.

* You are right Banks done give loan for NA plot. You can try in co-operative banks which would consider your reqiurement- that requires good relations of builder with that bank.

Metalhead44

Does Grampanchayat has DP plan? I thought only Cities have a DP plan in place.

minnie64

hey guys,
we invested in a plot in Lohegaon which was sold by Keerti Builders and developers about 8 years ago. Do you think it was a wise move? What do you think of this project?

NIKETAN

Yes Grampanchayats do have DP Plan under Town Planning - Governed and Executed directly by Collector Office.

Umchav

Hi Guys,

Most of the bank gives loan for buying NA plots. HDFC is one of them....do approach them if you are seeking a loan for buying NA plots.

Regards