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Legal Agrrement for a Plot, Pune

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Legal Agrrement for a Plot, Pune

Last updated: January 12 2015
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  • Legal Agrrement for a Plot, Pune

    What kind an legal agreement do you guys who have bought a plot in a plotting project do? Is it a R zone or Agri Zone NA done? If Agri NA , how did you guys do a deal without a 7/12 as you can't get a 7/12 unless it is more than 11,000 sq ft. How do people sell Farm house plots of only 5000 sq ft?

    Also heard something about developers who sell small plots saying it is sanctioned only do a Development agreement and Power of attorney rather than registration. Is this true?

    I visited a project close to Urse, and well the closest village was 3 kms away and yet the person was selling 1000 sq and 3000 sq ft plots saying it was R zone that I can build a home with 1 FSI from today itself with a gram panchayat sanctioned layout.

    I too am interested in buying a plot for long term investment but almost 90% projects I have seen around Pune seem illegal as either they sell plots less than 11,000 on agriculture zone land or take permission from the gram panchyat who are no longer authorized for the same.

    Or do people with long term view think that in future maybe 7-8 years later, your value will appreciate nonetheless or your land will come under R zone and you don't care about current legality. Cause thats the thinking most plot buyers I have seen have.

    Also my friend told me, it isn't a sanctioned layout unless it abides the rules of 15 % open space and 15% Amenity space.

    So Should I be looking to buy a Agri NA land far way of more than 11000 sq ft and get a 7/12 or should I go with one of these smaller plots which are claim are R zone Na Or whatever but close to the city and no 7/12 Or registration?
  • #2

    #2

    Re : Legal Agrrement for a Plot, Pune

    Hi,
    I would suggest you stay out of so called "plotting" schemes . Dont proceed unless you would get 7/12 in your name. In my opinion safer to buy agriculture land directly from farmers ( after all necessary checks) rather than deal with these so called developers of plots.

    regards
    Anand

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    • #3

      #3

      Re : Legal Agrrement for a Plot, Pune

      Hadapsar, Kharadi and Lohegaon have maximum supply of plots

      Plots are widely known to offer healthy returns on investments. As per a survey conducted by Magicbricks, more than 40 per cent of the property investors in Pune consider plots as an asset for the future. Close to another 40 per cent of the buyers prefer purchasing plots for building an independent house. Hadapsar, Kharadi and Lohegaon consist of the maximum supply of plots in East Pune. While the city has some supply of plots in several other areas such as Dighi and Pimpri Chinchwad in the North, the buyers need to be careful before buying this property type. Read more at http://content./industry-news/pune-r...une/63860.html

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      • #4

        #4

        Re : Legal Agrrement for a Plot, Pune

        Dear Aaravv,
        Most of the fraud schemes which happened in Maharashtra was due to the title deed. The land developers would keep the land in their name & claim that you would earn the profits. So if you really want to pump in your money which provides you good benefits years on, I would suggest you look to Wood County once. The website has all its details
        Website: Welcome to Woodcounty

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        • #5

          #5

          Re : Legal Agrrement for a Plot, Pune

          Refer this thread;https://www.indianrealestateforum.co...t=80854&page=4
          Beware of such deals which may cost you heavily. Be careful.

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          • #6

            #6

            Re : Legal Agrrement for a Plot, Pune

            Job well done Vaibhav. You nailed it right at root with evidence.

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