Buying a plot on installments is an affordable option. However, there have been several cases of fraud in property transactions. Therefore, I have listed things to consider before buying a plot on installments. Read the blog to learn more.
1. See the Location
Always buy a plot in a location with maximum infrastructural development and facilities. Ideally, it should have a settled population. It must have markets, schools, and hospitals nearby.
2. Verify Plot Ownership
Before booking a plot on installments, confirm the ownership of the land. Does the developer own the land? Ask for official ownership proof before paying the booking amount. You can verify the ownership from the land record office of the relevant tehsil/ district.
3. Conform NOC Status
It is always safer to invest in a registered housing society. Therefore, must check the NO-Objection Certificate (NOC) of the society you are going to invest in. The NOC approval from the government will ensure the provision of basic facilities: electricity, gas, water supply, and others.
4. Review the Developer History
Check the developer’s track record. If you are investing in a new residential society, A developer with a good history will always deliver the project on time. For example, Ch. Abudul Majeed is a credible developer. Therefore, Faisal Hills is safe to invest in.
5. Understanding the Hidden Cost
Do not focus only on the booking price. Instead, deeply understand the complete payment plan. Check the development charges and other hidden costs. After that, match this cost with your budget and then invest.
6. Price Comparison
Compare the plot price with other legitimate societies in the city. If they are offering a similar-sized plot at a low price, go for it.
Conclusion
Owning a plot through installment payment is a wise approach. It allows you to own land, leveraging the land developer’s finances. But you must verify the things to check before buying a plot on installments, like location, land ownership, and other details.
If you want to buy a legitimate plot on easy installments in any society of Pakistan, contact the marketing team of Property Naama Group.
Contact to Book Plots on Easy Installments
You can book residential and commercial plots on easy installments by reaching out to us via:
Our Email address: Info@propertynaama.com
Overseas and Domestic Clients (For WhatsApp):
WhatsApp: 0331 0105531
Disclaimer:
Please note that the information provided in this blog post is for educational and awareness purposes only and should not be considered professional advice. Property Naama Group is not responsible for any investment decisions by our clients or investors based on the information provided.
