Check list, tips, points to consider before buying N.A. land plots.
1. Check the EXACT location of the property and confirm it serves your purpose.
Check on Google Maps (check if location is verified) and Google Earth, also call the developer and ask for exact location with exact distance from landmarks. Decide if the location suits you and it serves your purpose for residential, commercial or industrial use.
Beach Flora technically is located in village Nivendi, sharing its boundary with Ganpatipule village but it can be said it is in Ganpatipule, as various villages are in Mumbai and Pune as are said to be part of the city. These villages are small having a radius of couple of kilometers only. LANDMARK: Beach Flora is just next to 3 star hotel property of Club Mahindra Fern Greenleaf Resort and Spa. Check on google maps here.
2. Can I buy agriculture land in Maharashtra?
If you are a farmer certified by Government of Maharashtra, ONLY then you can buy agriculture land. If you are a farmer and buy agricultural land then you can sell it to a farmer only, this limits appreciation of your property. Non Agriculture (NA) land can be bought and sold to anybody. Even though if your are a farmer buying a N.A. land is more beneficial as converting land use to non agriculture is a tedious and expensive process, N.A. land has limitless liquidity.
Beach Flora is Non Agriculture (N.A.) layout project, anyone can buy a plot in this project.
3. Check what is the land use approved by revenue department of government.
Land use can be changed from agriculture to non agriculture by the District collector only. Projects approved only by the gram panchayat are not legal. Non agriculture land use for residential, commercial or industrial use has to be approved by the district collector. You can check this on the 7/12 extract of the land where अकृषीक in Marathi has to be mentioned besides the lands survey number. You can check the 7/12 extract with the developer or apply and get your own copy from the Talathi office of that village or you can check online Here.
Beach Flora plots are non agriculture (NA) residential plots approved by Collector of Ratnagiri district. Check online here. Select District Ratnagiri, Taluka Ratnagiri, Village Nivendi, Survey no. 143/5A, 143/5B, 143/5C, 143/5D.
4. Check if the N.A. Layout is approved by the Town Planning authority of the district.
Even if the land is collector approved N.A. the layout has to be approved by the Town Planning authority of the district which ensures proper road access, correct demarcation, basic amenities and open space etc. You can check the Town planning approval stamp and signature on the original layout plan which will be available with the developer or you may apply and get your own copy from town planning department at your own cost.
Beach Flora plots are approved by Town Planning authority of Ratnagiri district.
5. Check if the land is Title Clear and do not have any dispute or illegal transactions.
After searching for all back dated records and transaction of the land, if every thing is fine then a competent lawyer gives title clearance certificate. This will be available with the land developer or if you want to be extra sure you can ask your lawyer to certify the title for you at your own expense.
Beach Flora plots are 100% title clear certified.
6. Check if the project is registered with (RERA) Real estate regulatory authority.
RERA registration is mandatory for ongoing real estate projects which ensures that buyers won't get cheated and get timely possession of the property.
Beach Flora N.A. plots already have received Completion certificate therefore RERA registration is not applicable. Confirm here.
7. When can I do the registration of the plot?
Every property transaction has to be registered at the concern Sub- Registrar's office.
You can get Beach Flora plot registered in your name immediately after payment of the entire sales consideration.
8. Check what are other charges / expenses and hidden costs?
Check for taxes, duty and fees like GST, Registration fees, Stamp duty, legal fees, development charges etc.
Currently 5 % Stamp duty and 1% registration fees are applicable on total sales consideration. Government reserves the right to change this from time to time. At Beach Flora GST is not applicable, nominal legal fees are applicable. We don't have Development charges & there are no other hidden costs.
9. Check if each land plot has clear demarcation and separate 7/12 extract.
Clear demarcation like fencing or wall compound avoids future disputes with your neighbors. Separate 7/12 gives you the freedom to get all necessary permissions easily for development on your land also you can sell the land easily.
At Beach Flora each plot has separate 7/12 extract and stone wall compound.
10. Check if the plot has road access
You need hurdle free access to your land and also building material should reach on the plot easily. Check the width of the access road.
At Beach Flora each plot is accessible with motorable 9 meter wide road.
11. Check what is the Floor Space Index (FSI) available?
When you invest your hard earned money in land it is very important that how much construction you can do on that N.A. land, it is called as Floor space index (FSI) which is approved by the concern town planning authority. At some place FSI is just 0.10 that means you can have construction of only 10% of the area of your land. Suppose your land area is 2000 sq. ft. then you can construct only 200 sq. ft. of area, this will depreciate your land value.
2At Beach Flora you get FSI of 1.32 which by any means is best suited for the location. This means that you can have construction of 132% of the area of your land. Suppose your land area is 2000 sq. ft. then you can construct whooping 2,640 sq. ft. of area, this will appreciate your land value rapidly and considerably.
12. Other than basic facilities what are the other facilities available?
If you build a holiday or second home away from city many facilities are needed for your day to day activities.
At Beach Flora basic facilities are available that are easy to maintain and we believe that offering extravagant amenities does attract more buyers but in the long run it is difficult and expensive to maintain for a holiday or second home. Beach Flora offers Children playground, Landscaped Garden, Open air Gymnasium, Solar LED street lights, Security, Beautified internal road side, Alphonso mango plants in each plots and open car parking.
13. See if the project is not in a secluded area & how far are public facilities?
Many N.A. land projects are located in a very beautiful location with high end amenities but those locations are out of the world. The project may be calm, peaceful and beautiful but it should be near basic public facilities. When you are on a holiday in your second home or living in your retirement home basic facilities like Transportation, Market, Medical aid, Restaurants, Bank, Temple etc should nearby.
Restaurants, Bus station, Taxi, Market, Medical store and clinic, Bank and ATM, Petrol pump, Temple etc. almost every public facility is within 0.5 to 2 kms radius of Beach Flora.
14. Most importantly check what are the chances of appreciation of your investment?
Investing on large plot because it is cheap but very far away from human habitat and in an undeveloped area is not a good idea. It will be a dead investment and it will be difficult to find a buyer if ever you want to sell the property. Instead invest in a small plot as per your budget which is closer to residential and commercial development (even if it is expensive) this will ensure appreciation of your investment and quick liquidity also.
As mentioned above, all basic public facilities are close to Beach Flora. Moreover Beach Flora shares its boundary with Club Mahindra 3 star property, Fern Greenleaf resort and spa. Few hundred meters from Beach Flora Muli-storied building are already developed and are occupied. There is already great demand for land in this area and the supply is scarce.
15. Explore possibilities of income from your second home.
Your second home should also generate secondary income for you. Rent is the best option. But when you buy a second holiday home / farm house / retirement home it is not in urban area or within city limits therefore to get a permanent tenant is difficult, moreover you would also like to enjoy your holiday home in vacations. Best option is to rent it to short stay tourist and post your property on www.airbnb.co.in type web portals. The only issue is there should be someone onsite to manage the check-in and checkout and maintain housekeeping, gardening etc.
Ganpatipule is a thriving tourist destination. The trend of avoiding hotels and to rent apartments or bungalows for short stays by families and groups is on the rise. If you are interested, we will take care of your facility management post your possession of the property and take care of your property in your absence and help to generate secondary income from your second home.
16. Can I get loan to purchase N.A. land and construct my second home?
Yes, if you are eligible few banks and financial institutions may fund you loan to buy N.A. land and to construct your home.
Beach Flora promoters have approached few financial institutions and hope to get the project approved very soon. Alternatively you may approach your bank in your own capacity and get the loan approved.