Thanks to its higher resale value, low maintenance, and lesser investment costs as opposed to constructed properties, land purchase is a popular investment option in our country. However, fraudulent schemes always lurk around such lucrative businesses. Hence, it becomes imperative to keep a vigil on the same through some regulatory checks.
A Factor of Authentication
A land survey number is one regulatory factor that needs to be considered when buying a new property. Not only does it assure the authenticity of the land purchase, but it also makes the record-keeping process easier. A land survey number is a unique number given by local authorities to every piece of land in their city. Checking a land survey number is not only necessary when buying a piece of land, but it is also necessary when buying a new home in constructed properties such as residential complexes, housing societies, and even stand-alone buildings. A land survey number is given after revenue officers assimilate data through a thorough examination of the land site.
Assimilation of Data
A land survey number is necessary to complete the registration of the residential property. It helps verify details like the type of land (agricultural or non-agricultural), shape and size of the land, ownership rights, location, demarcated boundaries, and details of adjoining plots.
Let us understand the importance of land survey through the following two simple examples:
- Suppose you are looking to buy land in the outskirts of a city and meet a potential seller who owns agricultural land but withholds this information. Since non-farmers cannot buy agricultural land unless officially changed, purchasing it might land you in legal trouble. The land survey number helps maintain transparency in the purchase by providing you with details such as its type, ownership etc.
- Similarly, buying a new home in a constructed property with no land survey number will also deem the purchase unauthorized and illegal.
Here is how you can verify
Land survey numbers are typically written on the property tax bill. All you need to do is, compare it with the land survey number registered in your sale deed. A mismatch could mean a red flag. Contact local municipal or revenue authorities to confirm the same. You can correct the Land survey number by asking the seller to prepare a rectification deed and have it duly stamped and registered before finalizing the purchase.
Apart from this, most states have now made it easier to verify land survey numbers through online portals. This process helps buyers obtain land survey numbers anywhere at any time. While some states have websites for verification, others facilitate their residents with land survey numbers and other crucial information through mobile apps for easier access.
A word of caution
Buying a dream home could entail investing one’s life savings. Hence, falling prey to fraudulent deals while purchasing a new property could make a severe dent in their financial status. So apart from verifying a valid land survey number, it is also necessary to make sure if the residential property is Real Estate Regulation Authority (RERA) registered, as it guarantees the authenticity of the purchase.