The purchasing of land or plot has become a reward in large cities, in particular, these days because the land is scarce and the pride is linked to getting your property in which you can build the house as you desire.
Many individuals prefer to invest in lands which get guaranteed returns in a reasonable period. Adding to this in the current real estate boom, no one would like to miss out on an investment opportunity. But the people who want to invest their hard-earned money in owning land or plot in Hyderabad should be more cautious before buying a plot in layouts of Hyderabad Urban Development Authority (HUDA).
Verify Before Purchasing Land in Unauthorised Layouts
HUDA recently issued a notice that some developers were taking up unauthorised layout development and promoting the same, putting the unsuspecting public unknown about the unauthorised status of their layouts. People must have to buy a property only in approved layouts to keep their investment safe.
It realised that many applications for layout approvals are not reaching HUDA and some people in such areas are not clear about the layout approvals norms. HUDA has a method to check the land ownership and its approval would mean that the land has a clear title.
It is alerting the general public, builders, developers, promoters, public agencies and other interested bodies/agencies not to buy plots in unauthorised layouts or enter into transactions regarding such property. It further emphasised that some developer/builder/ agency dealing in the property business in HUDA and giving publicity to such ventures. If people continue to enter into such land transactions, they alone will be responsible for their decisions and face legal consequences.