10 percent Plots FAQs | LandsWorthInvestment

Percent Plots FAQs

Is the property an authorized property and is it safe to invest in such properties ?

All these properties come under planned development and is allocated in the master plan. These properties are very safe to buy and many bank are interested to offer loans on such properties as they consider such properties safe for investment.

Why were these plots allotted?

These plots were allotted to Farmer whose land was acquired to carry out the development in the area. They were compensated in for Money and 10 percent of their land was given as developed plots by the authority.

How will this property investment help my investment portfolio?

The Property investment is capable to offer Good rental income and a good capital gains as locations are surrounded by projects which are in the development phase.. These areas have a high capital investment in infrastructural projects by public or private investments. For example development of various manufacturing companies or IT companies or in many cases the properties are very nears to metro stations and the airport which is under developing phase. All these factors are responsible for future increase in capital gains as well as increase rental income.

Are these properties commercial plots or residential plots ?

These plots are residential plots but 50% of the maximum ground coverage is only commercially allowed after paying the required conversion charge of the authority. For example if there is a 200 sq meters plot and the maximum ground coverage allowed in the plot after following the bylaws of the authority comes out to be 160 sq meters. 50 percent of 160 meters that is 80 sq. meters of the area on the ground floor is only commercially allowed after paying the required conversion charge.

Which all authorities have such plot deals for sale in the market ?

Greater Noida Authority , Yamuna Expressway Authority and Noida Authority.

Is there a way to verify all details of the offered plots ?

Plots details can be checked in the designated department at the authority. There are various verification process to check the details of the property. Are there ways to check that the deal offered does not have problems of any form Authority has made certain process to help the investors and the farmers but many are unaware about them. We guide our investors by giving them the right guidance.

Does the Farmer have any rights after transferring the property ownership?

Farmer has no right over the property after the transfer of the property.

What is the strategy to maximize your profit?

Buying properties on a main road to get commercial location advantage and earn high capital gains.

When will I get the possession of the property?

Properties where were the lease plan is made and site is developed immediate possession is available but in many cases lease plans are not made and the transfer cannot be done without a proper lease plan of the property, in such cases possession of the property is delayed till the transfer is executed.

What are the Documents are important for executing the transfer of a lease hold property ?

Lease Plan - : scaled metric drawing depicting exactly what area of land is included in the lease.

An allotment letter -: is an important document meant for the buyer. Generally, while you will be pursuing a bank loan to buy a certain property, the builder/housing society issues the allotment letter to the buyer which includes details pertaining to the description of the property being sold/bought by the two partie

Is it safe to buy properties on Will, GPA ( General Power Of Attorney) and Agreement in case the allotment letter is made and lease plan of the property is still pending and authority will take more time to issue the document ?

Properties where the lease plan has been made and the development work is actually done, immediate possession and transfer is available. But there are many sites where the development work has not been done at the site and the authority has delayed the issue of the lease plan in such situations immediate possession and transfer of the property is not possible. In such cases the property deal can be secured with the help of legal documentation like WILL,GPA and registered Agreement which is valid till transfer of the property .All these documents give legal power to the buyer of the property till the time the property is actually transferred on his name.

Are conversion charges applicable for commercial usage ?

Yes

Is there a time boundation of any form and farmer is not legally allowed to execute transfer of the property before the expiry of the period?

Farmer has no legal boundation and can execute transfer after obtaining the permission to tranfer from the Authority.