Investing in plots of land is a smart choice in 2024. Here’s why buying land could be a great decision for your future:

Tangible Asset with Lasting Value

Owning a plot of land means you possess something real and valuable. Land generally retains its worth over time. As a finite resource, land often appreciates, providing a stable and reliable investment.

Flexible Use

A plot of land offers incredible flexibility. Whether you want to build your dream home, set up a business, or sell it later for a profit, land provides a blank canvas for various uses.

Potential to Increase in Value

Historically, land values tend to rise over time. As populations grow and available land becomes scarcer, your plot’s value is likely to increase. This potential for appreciation can be a significant financial advantage, making land a lucrative long-term investment.

Low Maintenance

Compared to properties with buildings, land requires minimal upkeep. You don’t have to worry about repairs, renovations, or managing tenants. This low-maintenance nature reduces costs and stress, making land a hassle-free investment.

Protects Against Inflation

Land acts as a hedge against inflation. As living costs rise, land values often increase, helping to preserve your investment’s value. This protection against inflation ensures that your asset maintains its purchasing power over time.

Opportunity for Future Income

While land doesn’t provide immediate income, it can be a source of future revenue. You might sell it at a higher price later or develop it to generate rental income. This potential for future cash flow adds to the attractiveness of land as an investment.

Investing in plots in 2024 offers numerous benefits. With its enduring value, flexibility, appreciation potential, and low maintenance, land is a solid investment choice. It provides protection against inflation and opportunities for future income, making it a wise addition to your investment portfolio. Start exploring land opportunities today to secure a prosperous future.

Here’s everything that you need to know 

Investing in Pune's real estate market can be profitable, thanks to its growing population, strong economy, and robust infrastructure. However, it's important to be aware of the risks involved. 

This guide explores Pune's real estate trends, opportunities, and challenges. We'll highlight the best areas to invest in and discuss various types of real estate investments.

 Additionally, we'll provide strategies to maximise returns and offer insights to help you make informed investment decisions.

Opportunities in Pune's Real Estate Market

1. Growing demand for affordable housing: The increasing population in Pune has created a strong demand for affordable housing options, presenting an opportunity for developers and investors to cater to this segment.
2. Range of projects for affordable housing: Developers are focusing on offering a diverse range of projects that cater specifically to the affordable housing segment, providing investors with various options.
3. Increase in the supply of affordable homes: The Pune real estate market has seen a rise in the supply of affordable homes, which not only meets the demand but also allows investors to tap into this growing market.
4. Rise of smart and sustainable developments: Pune is embracing smart and sustainable developments, incorporating energy-efficient appliances, water conservation systems, and waste management systems. 

Challenges in Pune's Real Estate Market

1. Cost of development and property prices: The high demand for housing and the need for infrastructure development has driven up the cost of development, which can impact property prices and potentially affect investor returns.
2. Fluctuation in property prices: Property prices in Pune's real estate market can be influenced by market conditions, economic trends, and government policies. Investors should be prepared for potential fluctuations and factor them into their investment strategies.

Types of real estate investments in Pune

1. Apartments: Pune's real estate market offers a plethora of residential complexes and apartments. These modern complexes have various amenities, providing residents with a convenient and comfortable living experience.
2. Plots: Investing in plots is a viable option for those who prefer to build their own homes. Pune offers plots of various sizes in different locations, allowing buyers to choose according to their preferences.
3. Commercial Spaces: Pune's real estate market also caters to investors interested in commercial properties. There are ample options available, including office spaces and retail spaces.

Strategies for maximising returns

1. Rental Income: Invest in high-demand properties such as apartments or commercial spaces that tenants can rent out. Rental income can help offset investment costs and provide a steady income stream.
2. Capital Appreciation: Look for properties with the potential for capital appreciation, where the property's value increases over time. Factors like rising demand, economic growth, and infrastructure development can contribute to the appreciation in property value, allowing investors to profit from their investment when selling in the future.

Risks and challenges of investing in Pune real estate

1. Market Fluctuations: Unpredictable changes in demand, interest rates, and economic factors can lead to sudden drops in property prices and impact the value of investments.
2. Property-related Risks: Zoning changes, environmental issues, and title problems can affect the value and viability of a property, making it challenging for investors to sell or rent it out.
3. Property Acquisition: Finding the right property that meets investment criteria, such as location, price, and potential for growth, can be a challenge in a competitive market.
4. Tenant/Renter Management: Managing tenants or renters can pose challenges such as dealing with late payments, property damage, or tenant turnover, impacting rental income and property maintenance.
5. Property Maintenance: Regular property maintenance, repairs, and renovations can be time-consuming and costly, requiring ongoing investment and attention.

With Genuine Plots experts by your side, mitigate risks and confidently reach your investment goals. Our commitment to transparency ensures smooth transactions, genuine guidance, and a seamless experience in buying and selling land.

In the state of Maharashtra, India, there exists a crucial law that aims to prevent the fragmentation of land into very small plots. This law restricts the sale or purchase of land measuring just 1 or 2 Gunthas (a unit of measurement used in India), unless prior permission is obtained from the collector or the competent authority. However, with the proper authorization, such transactions can be registered and made legally valid. 

Understanding the Prevention of Fragmentation and Consolidation of Holding Act 1947

The core legislation governing land fragmentation in Maharashtra is known as the "Prevention of Fragmentation and Consolidation of Holding Act 1947." Under this act, each district in the state is assigned a standard minimum area of land, and the sale or purchase of land parcels smaller than this standard is strictly prohibited under Section VIII.

The Introduction of Section VIII-B

In 2016, the state government made an important addition to the Prevention of Fragmentation and Consolidation of Holding Act 1947. This addition came in Section VIII-B, which was introduced through a gazette notification. Section VIII-B clarified that the act does not apply to land designated for non-agricultural purposes, such as industrial or commercial use, within the boundaries of Municipal Corporations or Municipal Councils, or under the Maharashtra Regional Planning and Town Planning Act 1966.

Urban Areas and the Sub Registrar's Role

The law against land fragmentation was occasionally ignored in urban areas and areas of influence. Consequently, the Sub registrar, who handles property registrations, rejected transactions involving very small land plots that violated the act. This reinforced the importance of obtaining the necessary permissions for such transactions to be deemed valid.

Revenue Department's Role in Informing Registration and Stamp Duty Department

To ensure compliance with the law, the Revenue department informs the Registration and Stamp Duty Department about transactions involving land that falls under the scope of Section VIII-B. This exchange of information ensures that proper documentation and permissions are obtained for such transactions.

Transactions with Already Purchased Small Land Plots

If an individual desires to sell a piece of land they already own, and that land is smaller than the standard area defined by the act, they must seek permission from the competent authority or the Collector under Section VIII-B of the Act. This provision ensures that even previously acquired small land plots are subject to regulation to prevent fragmentation.

Demarcated Land and the Role of the Land Records Department

In cases where the Land Records Department has officially demarcated a piece of land with a separate boundary map, permission for its sale is not required. However, if the land was formed independently without the demarcation, dividing it will necessitate the approval of the Collector or the Competent Authority, as per a circular from the Inspector General of Registration.

FAQs

Can I sell a small piece of land without permission?

No, the Prevention of Fragmentation and Consolidation of Holding Act 1947 in Maharashtra prohibits the sale of land smaller than the standard area fixed for each district without prior permission from the collector or the competent authority.

Is the law applicable to non-agricultural land?

No, Section VIII-B of the Act states that the law does not apply to land designated for non-agricultural use, such as industrial or commercial purposes, within the boundaries of Municipal Corporations or Municipal Councils.

What happens if I buy a small plot of land?

If you purchase a plot of land that is smaller than the standard area fixed under the Act, you will need permission from the competent authority or the Collector under Section VIII-B of the Act if you wish to sell it in the future.

What is the role of the Sub registrar?

The Sub registrar is responsible for handling property registrations. In urban areas, the Sub registrar ensures that land transactions comply with the law against land fragmentation.

Do I need permission for already purchased small land plots?

Yes, even if you already own a piece of land that is smaller than the standard area, you must obtain permission from the competent authority or the Collector if you wish to sell it in the future.

Are there exceptions to obtaining permission?

Yes, if the Land Records Department has officially demarcated a piece of land with a separate boundary map, permission for its sale is not required.

Section 25 of Property Registration In Maharashtra

If you're buying or selling property in Maharashtra, it's important to know about property registration. The Maharashtra Registration Act governs this process. Here's a simple explanation for those who may not speak English fluently.

Property Registration Timeframe and Penalty:

When you buy a property, you must register the related documents within four months of the property purchase. If you miss this deadline, you might have to pay a fine equal to ten times the registration fee.

Benefits of Property Registration:

1. Ensures Authenticity
2. Prevents Fraud
3. Public Record
4. Keeps Records Up-to-Date
5. Avoids Double Sales
6. Secures Documents

Who Can Register Property:

The Registration Act states that the person involved in the property transaction, their representative, or an authorized agent can present the documents for registration.

Required Documents for Property Registration:

When registering property in Maharashtra, you need to submit the following documents:

1. Aadhar card: This is an identification card.
2. Passport-Size Photos: Photos of both the seller and buyer.
3. Old Sale Deed Copy: A verified copy of the original sale deed.
4. No Objection Certificate (NOC): This is needed under the land ceiling Act.
5. Property Register Card Copy: The latest property register card.
6. Municipal Tax Bill Copy: Proof of tax payments.
7. Construction Completion Certificate: If applicable, a certificate showing that construction is completed.
8. Builder-Buyer Agreement: The original agreement between the builder and the first buyer of the property.

Understanding property registration is essential to protect your rights when buying or selling property in Maharashtra.

In Maharashtra, there are two main types of land: Occupancy land and Lease land. These are categories that help define how people use and own the land.

1. Occupancy Land: This type of land is a bit complex, but in most cases, the people with this land are considered the owners. It's like they own the land. Occupancy land has two categories: Class 1 and Class 2.

• Class 1: This is like a higher category of occupancy land. People with Class 1 land have more rights and benefits related to the land they use.
• Class 2: This is a slightly lower category of occupancy land. People with Class 2 land also have ownership-like rights, but there might be some differences compared to Class 1.

2. 2. Lease Land: Lease land is land given to people on a lease basis. This means they have permission to use the land for a specific time, but they don't own it like the way people own houses. It's more like borrowing the land for a while.

Bhulekh Mahabhumi Address 

Bhulekh Mahabhumi

https://bhulekh.mahabhumi.gov.in/

020-26050006

How to check Bhulekh Mahabhumi Land Records?

You can now access information related to land records in Maharashtra by visiting the Bhulekh Mahabhumi website without having to visit the office of the Tehsildar of the respective district. Steps to follow for Land Records details 

1. Visit the official website of Bhulekh Mahabhumi
2. 6 Locations are given. Aurangabad, Pune, Nashik, Nagpur , Konkan and Amravati
3. Select  7/12 or 8A 
4. In  7/12, select the district, taluka, and village for the land records required
5. Search by alphabetical survey number/group number. You can also search by survey number or the name in the records. 
6. Enter Mobile Number 
7. Click the See 7/12' tab and type the captcha code. 
8. You will get the required information on the web page. 

 Bhulekh Mahabhumi's Services 

1. Type of land (agricultural/non-agricultural)
2. Survey number of land
3. Land ownership
4. Area of land
5. Name of cultivator (in the case of agricultural land)
6. Type of cultivation
7. Encumbrances and encroachments
8. Litigation in land title

The Maharashtra government made an online system to help with land use and construction permissions. But if someone wants to use farmland for other things, they usually need to ask the Collector for permission unless they're doing big industrial or housing projects in certain areas.

But there are some rules in a law called The Maharashtra Land Revenue Code, 1966 (Code). According to these rules, if someone wants to use land meant for farming, but they want to use it for something else, they need to ask a person called the Collector for permission. This is also true if they want to change how they use land that's not meant for farming.

There are some special cases, though. If someone wants to use farming land for real factories or big housing projects, they may only need permission from the Collector. For example, if the farming land is in an area where the government has already made plans for factories or houses, or if it's in an area where no plans exist but they want to make a factory, they might not need special permission.

 FAQ

Q1: What is the Building Plan Management System (BPMS) created by the Government of Maharashtra?

 A1: The Building Plan Management System (BPMS) is an online system developed by the Government of Maharashtra to facilitate obtaining certificates for land use other than farming and permissions for construction projects.

Q2: What is the role of The Maharashtra Land Revenue Code, 1966 (Code) in land use and construction?

 A2: The Maharashtra Land Revenue Code, 1966 (Code) lays out regulations for land use. It mandates that if someone intends to repurpose farmland or change non-agricultural land use, they generally require permission from the Collector.

Q3: Are there exceptions to seeking permission from the Collector for changing land use? A3: Yes, there are exceptions. In cases where farmland is being utilized for significant industrial or housing projects, permission from the Collector might not be necessary if the government has existing plans for such development in the area.

Q4: What scenarios might not require special permission from the Collector for land use changes? 

A4: Land use changes involving farmland for substantial industrial or housing projects might not require special permission from the Collector if there are pre-existing government development plans or if the intention is to set up a factory in an area with no existing plans.