Due to the many possibilities that purchasing land affords the investor, this kind of investment is always popular. Land values are generally known to increase as there is no depreciation involved. However, it is clear from recent events that India residential real estate has suffered dramatically due to the coronavirus outbreak and the economic havoc it has produced.
Local governments in cities map every square inch of land that is accessible to them and give it a unique number as part of record keeping for revenue purposes. This number is more frequently referred to as a land survey number since it serves as a unique identification for a specific land parcel. A land parcel is only given an identification number when authorities physically visit the location and thoroughly inspect it to establish its precise form, size, kind, limits, etc. By utilizing the land survey number, users may examine the exact position of the land parcel on maps. The revenue officers in each State are in charge of completing this work.
Municipal authorities or revenue officials give every piece of land in the city a special number as part of recordkeeping for taxation reasons. The number, often known as a land survey number, serves as a unique identifier for the parcel of land. In addition, this particular number may be used by real estate investors to obtain information about the property, such as the size, location, neighborhood, and ownership rights.
After carefully inspecting the land site, the tax officers in each State integrate the data, and the relevant government provides the land survey number. For instance, the Superintendent of Land Records and the Taluka Inspector of Land Records assign the land survey number in Maharashtra.
The land survey number is one of the numerous things you must include in the form when registering a property. But this is only one straightforward application of this number.
More importantly, the land survey number aids a potential buyer in inspecting and comprehending specifics about the property he wishes to purchase. In addition, the buyer can use this number to obtain information about the land.
The buyer may be able to avoid any future purchase-related obstacles by acquiring the answers to these questions.
An illustration would help you better understand this. Let say you come across a vendor who owns an agriculturally-zoned property tract on the city outskirts. Since non-farmers cannot own agricultural property in India, it is crucial to modify the land use to allow for non-farmer ownership. If the vendor hid that important information from you, it might cause you a lot of difficulty in the future. You might determine what kind of land it is and take appropriate action if you look up the land survey number online.
The same applies to owning land. The land passed down from one generation to the next usually has several co-owners, and any transaction involving the land must get the approval of all of them to be enforceable. By looking up each co-details owner in the land records, you can eliminate any opportunity for fraud on the part of the sale.
